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.

Read Quick SummarySave Time

or

Article Details

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 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Readers: 51 people read this story

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

View Article Analysis

About GlobeNewswire

Main Topics: Technology

Official Website: globenewswire.com

Update Frequency: 2 posts per day

Year Established: 1998

Headquarters: China

News Last Updated: 12 hours ago

Coverage Areas: China

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #116

Publisher Details

Frequently Asked Questions