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Addnode Group announces weaker earnings than previous year for the second quarter 2023

MAR

Addnode Group estimates that EBITA for the second quarter 2023 will amount to SEK 100-110 m (154).

The weaker earnings in the second quarter is mainly due to substantially lower sales volumes than expected in the Design Management division, attributable to weaker demand from customers in the construction industry, longer sales cycles and a significantly lower proportion of multi-year agreements regarding third-party products.

As previously communicated, restructuring measures are initiated in the Product Lifecycle Management division with the aim to increase efficiency by adapting organisation and cost structure. In the second quarter 2023, the costs for the measures are estimated to approximately SEK 10 m.

The interim report for the second quarter 2023 will be released as planned on July 14, 2023. All figures in this press release are preliminary.

For more information, please contact:
Johan Andersson, CEO and President, Addnode Group
Phone: +46 (0) 704 20 58 31
E-mail: johan.andersson@addnodegroup.com

Christina Rinman, Head of Corporate Communication and Sustainability, Addnode Group
Phone: +46 (0) 709 711 213
E-mail: christina.rinman@addnodegroup.com

About Addnode Group
Addnode Group acquires, operates and develops cutting edge enterprises that digitalise society. We are a leading global provider of software and services for design, construction, product data, and facility management. We also support the public sector with document and case management solutions. By acquiring new businesses and providing a growth platform for our subsidiaries, we create sustainable value growth.

Addnode Group has 2,500 employees and consists of around 20 companies with geographical presence in 19 countries across four continents. Net sales in 2022 amounted to SEK 6.2 billion. Addnode Group's Series B share is listed on Nasdaq Stockholm, in the Large Cap segment. For more information, please visit: www.addnodegroup.com.

This information is information that Addnode Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-06-30 14:18 CEST.

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Addnode Group announces weaker earnings than previous year for the second quarter 2023

Datum 2023-06-30, kl 14:18
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Addnode Group announces weaker earnings than previous year for the second quarter 2023