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Cint is reducing its cost base to increase efficiency and sets a date for a strategy update

MAR

Cint is making strong progress consolidating its technology into the unified Cint Exchange, and finalizing the customer migration will be the top priority during 2025. In light of challenging market dynamics and the need to streamline operations, the company is implementing cost reductions to enhance efficiency and ensure long-term competitiveness. Key measures include general cost-saving actions and a workforce reduction of approximately 12 percent, affecting employees and contractors, compared to September 2024.

The cost reductions will come with a restructuring charge of approximately MEUR 5 in the fourth quarter of 2024 and is projected to reduce annual operating expenses by approximately MEUR 15. Operating expenses in 2025 are expected to remain in line with 2024 levels reflecting lower than normal bonus and LTIP accruals in 2024, while 2025 is affected by a higher run rate for key personnel recruited during 2024. These cost reductions are designed to strengthen Cint’s financial performance and provide the flexibility needed to reinvest in strategic priorities, ensuring the company remains well-positioned.

As previously communicated, Cint is in the process of revising its medium-term strategy and financial targets. To provide further details, Cint plans to host a strategy update for investors on 27 January 2025 to outline its medium-term strategic initiatives and financial targets, including progress on platform migration and growth opportunities. A webcast invitation will be shared well in advance of the event.

For more information please contact:
Niels Boon, CFO
niels.boon@cint.com

Patrik Linzenbold, Head of IR
patrik.linzenbold@cint.com

About Cint
Cint is a pioneer in research technology. Our customers use Cint to post questions and get answers from real people. They use these answers to build business strategies, confidently publish research, accurately measure the impact of digital advertising, and more. Our exchange is the world’s largest, with more than 300 million respondents in over 130 countries who consent to sharing their opinions, motivations, and behaviors. We are feeding the world’s curiosity.

Cint Group AB (publ), listed on Nasdaq Stockholm (STO: CINT), has a global workforce of approximately 900 FTEs. Cint has offices in Stockholm, London, New York, New Orleans, Singapore, Gurgaon, Japan, and Sydney, among others. 

This information is information that Cint 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 2024-12-12 08:45 CET.

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Cint is reducing its cost base to increase efficiency and sets a date for a strategy update

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Cint is reducing its cost base to increase efficiency and sets a date for a strategy update
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