DGAP-Adhoc adesso SE raises full-year forecast for sales and EBITDA on the basis of strong preliminary figures for the third quarter of 2020
DGAP-Ad-hoc: adesso SE / Key word(s): Change in Forecast/Quarter Results
adesso SE raises full-year forecast for sales and EBITDA on the basis of strong preliminary figures for the third quarter of 2020
On the basis of preliminary business figures for the third quarter of 2020 with a noticeable increase in capacity utilisation in the IT service business of the parent company adesso SE and the highest number of working days in 2020 as well as the first significant license revenues of the in|sure product family, adesso is raising its full year 2020 forecast for sales (previously: > EUR 490 million) and the operating result EBITDA (previously: > EUR 50 million).
After the first nine months of the year, sales increased by 17 % to around EUR 384 million. The operating result EBITDA reached EUR 47 million after nine months (previous year: EUR 28.9 million) and, in addition to the first significant license revenues in the area of the in|sure Ecosphere product family, benefited from a noticeably higher utilisation in the IT service business in the third quarter whith COVID-19-related savings and the highest number of working days in 2020.
In view of the renewed contact restrictions that have been in force since today as part of the partial lockdown in Germany and the continuing increase in COVID-19 infection numbers worldwide, it can no longer be ruled out that the final quarter could again be affected by dampening effects on the order and capacity utilisation situation. In contrast, there are good chances of being able to conclude further deals in the product business and a higher number of working days compared to the last quarter of the previous year. On the basis of this assessment as well as the current knowledge from the preparation of the financial statements for the third quarter and the first nine months of the year, the Management Board now expects sales of > EUR 500 million and an EBITDA in the range of EUR 55 million to EUR 65 million for the Full year 2020.
Explanations of the key figures used are published on the company's website at www.adesso-group.de/en/apm/. The complete interim announcement based on final figures will be published as scheduled on 13 November 2020 and will be available on the company's website at www.adesso-group.de/en/.
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1144845 02-Nov-2020 CET/CEST