NNIT A/S: A CHALLENGING THIRD QUARTER. NECESSARY ACTIONS TAKEN TO IMPROVE PERFORMANCE IN 2024 AND LONG-TERM

Quick Summary:

Despite positive momentum in the first half of the year, including several levers initiated in Q2 to accelerate profitability, organic growth and group operating profit margin excl.special items decreased in Q3 2024 compared with last year.

The unfavorable development in the profit margin was due to lower topline performance and as a consequence of NNIT having too much capacityTo improve business performance, necessary actions were taken to reduce capacity in the relevant areas in Region Europe and Region US on top of the initiatives carried out in the first half of the yearFull-year financial outlook was adjusted on 22 Oct 2024 cf.company announcement 7.

The adjusted full-year outlook is an organic growth around 6 to 7% (previously around 10%) and group operating profit margin excl.special items between 6 to 7% (previously between 8 to 9%) The third quarter was more challenging than anticipated.

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Author / Journalist: NNIT A/S

Category: Technology

Markets: ChinaDenmark

Topics: DK0060580512 Copenhagen:NNIT

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 17:00:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 367 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © GlobeNewswire

News ID: 23434970

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