Heeros lowers its financial outlook for 2022
HEEROS Plc Press release 30.11.2022 at 2.40pm
This release is an unofficial translation of the Heeros Company announcement released on 30 Nov 2022. The original Heeros Company announcement is available on the company’s website at www.heeros.com/sijoittajille/tiedotteet
Heeros January-September total revenue grew by 22% year-on-year and the combined EBITDA (EBITDA, % of revenue) margin and revenue growth percentage (Rule of 40, adjusted) was 39%. As stated in Q3 business review, it has been difficult to predict the Finnish economic development for the SME segment customers.
New sales activity remains strong, but there are delays in customer decision making process. Recurring revenue growth has slowed down and revenue from onboarding projects has not reached targets. Additionally, weak economic development reflects on purchase and sales invoice transaction volumes.
For the reasons stated above Heeros changes its financial outlook for 2022.
New financial outlook for 2022:
Heeros is expecting the combined EBITDA margin (EBITDA, % of revenue) and revenue growth percentage (Rule of 40) to be approximately 40% for the 2022 financial period.
Previous financial outlook, provided 3 February 2022 and last communicated 13 October 2022:
Heeros is expecting to increase the combined EBITDA margin (EBITDA, % of revenue) and revenue growth percentage (Rule of 40) to over 40% for the 2022 financial period.