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Nepa publishes preliminary results for Q2 2023

MAR

Nepa anticipates that net sales for the second quarter of 2023 will amount to approximately SEK 75 million and EBIT to approximately SEK -10 million. The decrease in earnings is mainly attributed to a continued weak ad hoc revenue development and an excessive cost structure. Additional cost-saving measures have been implemented during the quarter to achieve the targeted annualized cost base of SEK 220 million by Q4 2023. Excluding restructuring costs, the adjusted EBIT is expected to be approximately SEK -3 million. Nepa will after these measures meet the targeted run rate by Q4 2023 but continue to take measures to ensure profitable operations.

Although ad hoc revenue has continued to decline since its peak in H1 2022, subscription revenue and ARR (Annual Recurring Revenue) have remained consistent. Given the prevailing market conditions, Nepa has during the quarter implemented supplementary measures to achieve the targeted cost structure. The company incurred restructuring costs of circa SEK 7 million in the quarter. Nepa remains actively engaged in restoring profitability and continues during H2 2023 to take additional measures, including redundancies, to achieve this goal.

The Board’s search process for a permanent CEO is progressing according to plan, and further announcements will be made in due course.

All figures in this press release are preliminary and unaudited. The interim report for Q2 2023 will be published at 08:00 CET on August 18, 2023.

For more information, please contact:
Edvard Hagman, Investor Relations, ir@nepa.com

About Nepa
Nepa, a leader in Brand Experience and Marketing Optimization, helps some of the world’s most reputable brands drive growth through data. This is achieved by combining first-class research, cutting-edge technology, deep expertise, and innovative solutions. Headquartered in Stockholm, Sweden, with offices in Norway, Finland, Denmark, UK, USA and India, the company is listed on the Nasdaq First North Growth Market and has been publicly traded since 2016.

Redeye AB is Nepa’s Certified Adviser. Full contact details are available at nepa.com/investor-relations.

This information is information that Nepa 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 2023-07-31 18:40 CEST.

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Nepa publishes preliminary results for Q2 2023

Datum 2023-07-31, kl 18:40
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Nepa publishes preliminary results for Q2 2023
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