Net sales in 2021 are expected to continue
QPR SOFTWARE CORPORATION, STOCK EXCHANGE RELEASE, FEBRUARY 14, 2022, AT 8:30 PM
QPR Software Corporation (the “Company”) estimates that the Company’s net sales in 2021 will be at the level of net sales in 2020. The company’s EBITDA and operating profit are expected to decrease compared to 2020.
The company’s revenue growth is lower than expected due to a reassessment of the revenue recognition of a major project. This reassessment will result in lower revenue and operating profit than previously estimated.
When preparing the financial statements, the company reassessed the goodwill related to the acquisition of Nobultec Oy in 2011 and the carrying amount of certain product development capitalizations using the precautionary principle and sensitivity analysis and determined that certain write-downs are required.
New guidelines for 2021: The company estimates that net sales will remain at the same level and that EBITDA and operating profit will be lower than in the previous year.
Previous instructions, published 22.10.2021:
QPR Software Corporation estimates that net sales will increase by 4-9% in 2021 (2020: EUR 8,971 thousand) and that EBITDA and operating profit will improve compared to 2020.
QPR Software Corporation
Board of Directors
For more information, contact:
Jussi Vasama,
President and CEO, QPR Software Corporation
Tel. +358 50 380 9893
About QPR Software
QPR Software Corporation (Nasdaq Helsinki) offers process mining, performance management and enterprise architecture solutions for digital transformation, strategy implementation and business process improvement in more than 50 countries. With QPR software, customers can gain valuable insight into informed decisions that matter.
Dare to heal. www.qpr.com
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Nasdaq Helsinki
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www.qpr.com