Stock exchange release
Unless otherwise specified, the figures in brackets refer to the year-on-year comparison period.
January-
- Net sales decreased by 19.3%, amounting to
- Adjusted EBITDA increased by 4.3%, amounting to
- Adjusted operating result increased by 6.0%, amounting to
- Operating result decreased to
- Adjusted earnings per share were
- Earnings per share decreased to
- Cash flow from operations increased to
- Orders received decreased by 25.2% to
- The order book decreased by 2.6% and amounted to
-
Outlook for 2024 (unchanged)
Segment reporting
As the company announced on
Key figures
EUR million | 1-3/2024 | 1-3/2023 | Change | 1-12/2023 |
Net sales | 36.6 | 45.3 | -19.3% | 151.3 |
Adjusted EBITDA 1) | 3.1 | 2.9 | 4.3% | 7.2 |
Adjusted EBIT 1) | 1.5 | 1.5 | 6.0% | 1.2 |
Adjusted EBIT, % 1) | 4.2% | 3.2% | - | 0.8% |
EBIT | -0.4 | 1.2 | >-100.0% | -0.5 |
EBIT, % | -1.0% | 2.7% | - | -0.3% |
Net result for the period | -0.5 | 2.2 | >-100.0% | -0.5 |
Adjusted earnings per share, | 0.08 | 0.14 | -41.9% | 0.09 |
Earnings per share, EUR | -0.02 | 0.13 | >-100.0% | 0.00 |
Cash flow from operations | 7.3 | 2.0 | >100.0% | 10.8 |
Orders received | 30.5 | 40.8 | -25.2% | 149.6 |
Order book | 124.3 | 127.6 | -2.6% | 130.4 |
Net gearing, % | 42.5% | 58.4% | - | 51.7% |
Equity ratio, % | 47.4% | 41.6% | - | 45.4% |
Personnel at period-end | 703 | 842 | -16.5% | 750 |
1) An alternative performance measure defined in the tables section of the report.
Comments by President & CEO
"The first quarter of fiscal year 2024 was two-fold. Our turnover decreased from the comparison period, but relative profitability improved and cash flow from operations was strong. We also achieved important progress in implementing our strategy. However, the outlook for the whole year is still overshadowed by market uncertainty, and we expect the second quarter to be difficult.
Orders received and turnover decreased in the Broadband Networks business unit, due to very low demand in the European market. However, relative profitability improved due to an increase in gross margin and cost saving measures. The European market is expected to remain uncertain during 2024. Demand is expected to improve at the earliest in the second half of the year. As the first supplier in the industry, our 1.8GHz ICON smart amplifiers, designed for the North American market, have now reached general availability status and the first field deployments to our customers have started. Four North American operators have confirmed smart amplifier orders to
Orders received grew in the Public Safety and Mobility business unit. However, turnover was below the comparison period. One reason for this was the political industrial action in
We continued several measures to improve profitability and to prioritize our operations. Cost savings are targeted at all company's operations. The change negotiations started in
As we announced in a stock exchange release on 25.4.2024, we have changed and updated our reporting practices. These changes increase the transparency of investor communication. The clarification of the company's group structure and the reorganization of business units under their own legal companies are proceeding according to plan.
We have steadily increased our focus on corporate social responsibility. As evidence of this, we achieved a gold medal in
In 2024, the main goal of the Broadband Networks business is to grow the business in
For further information, please contact:
President and CEO
CFO
tel. +358 2 2605 611
investor.relations@teleste.com
company in broadband, security and information technologies and related services. We work in close cooperation with our customers, both virtually and through our worldwide sales network. In 2023,
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