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Profit warning: Net sales in 2021 are estimated to be on the same level and operating results lower compared to the previous year due to re-assessment of revenue recognition of a significant project and write-off of goodwill

Written by Customer Service on . Posted in Public Companies.

QPR SOFTWARE PLC, STOCK EXCHANGE RELEASE, FEB 14, 2022, AT 8:30 PM

QPR Software Plc (“Company”) estimates Company 2021 net sales to be at the level of 2020 net sales. The company’s EBITDA and operating results are expected to decline in comparison with 2020. 

The company’s net sales growth is lower than previously expected due to the re-assessment of revenue recognition regarding a substantial project. This re-assessment will result in lower net sales and operating results than previously estimated.

In preparation of the financial statement, the Company has re-evaluated the goodwill related to the acquisition of Nobultec Oy in 2011, and the book value of certain product development activations by using precautionary principle and sensitivity analysis, and concluded, that certain write-offs are needed to be executed. 

New guidance for the year 2021: The company estimates net sales to remain on the same level, and EBITDA and operating result to be on a lower level than in the previous year.

Earlier guidance, published on, Oct 22, 2021:
QPR Software Plc expects its net sales to grow by 4-9% in 2021 (2020: EUR 8,971 thousand), and EBITDA and operating results to improve compared to 2020.

QPR Software Plc
Board of Directors

For additional information, please contact: 
Jussi Vasama, 
Chief Executive Officer, QPR Software Plc
Tel. +358 50 380 9893

About QPR Software
QPR Software Plc (Nasdaq Helsinki) provides process mining, performance management, and enterprise architecture solutions for digital transformation, strategy execution, and business process improvement in over 50 countries. QPR software allows customers to gain valuable insights for informed decisions that make a difference.
Dare to improve. www.qpr.com

DISTRIBUTION
Nasdaq Helsinki
Main media
www.qpr.com

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