The changes implemented during the year to strengthen Formpipe's market position have made operational progress in both company's business areas. However, the financial impact of these changes is expected to take longer than previously anticipated. The quarter was also burdened by a one-time cost for the cyber incident that occurred in the Danish operations during the autumn. Together with costs for ongoing change projects related to the repackaging of the Lasernet offering and the establishment of ONEPublic, which will be completed by the summer, the quarter's results are negatively affected.
Fourth Quarter 2024 Results Update
Revenue for the fourth quarter is expected to grow slightly compared to the same period last year and amount to SEK 138 million (SEK 136 million for the same period last year). EBIT excluding one-time costs is expected to decrease to SEK 7 million (SEK 17 million). One-time costs for the quarter amount to SEK 4.7 million and are related to the cyber incident. Thus, full-year 2024 revenue is expected to amount to SEK 526 million (SEK 525 million) and EBIT to SEK 24 million (SEK 49 million)
Action Plan and Financial Goals
To ensure profitability development in line with achieving the goal of 20% EBIT for ongoing operations in 2025, Formpipe has decided on measures in the cost structure, primarily focused on the Lasernet business area. Additionally, costs for ongoing change projects will decrease during the spring of 2025, which means that Formpipe maintains its financial goals for 2025, including strengthening the operating margin (EBIT), with the ambition to reach 20 percent in the latter part of 2025.
For additional information, contact:
Magnus Svenningson, CEO Formpipe Software AB, +46 73 963 97 00
Sophie Reinius, CFO Formpipe Software AB, +46 73 408 28 77
This is a translation of the original Swedish version. In the event of any discrepancies between the two versions, the original Swedish version shall take precedence.
This information is inside information that Formpipe Software AB (publ) is obliged make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 08.00 CET January 20, 2025
Formpipe builds valuable relationships between data and people. Driven by our core values, since 2004 we have developed premium software that provides you with the right information, in the right context, at the right time. Every time.
We help over 5,500 clients worldwide to digitize and automate business processes. Together with our customers and partners, we co-create a digital society where people thrive. We have offices in Sweden, Denmark, United Kingdom, Germany, France and USA. Formpipe Software is a publicly listed company on Nasdaq Stockholm.
