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Sitowise Group Plc Stock Exchange Release 26 October 2022 at 9.00 EEST

Inside information, profit warning: Sitowise lowers its full year adjusted EBITA guidance while maintaining the net sales guidance, and provides preliminary key figures for the third quarter

Sitowise lowers its full year adjusted EBITA guidance while maintaining the net sales guidance and provides preliminary key figures for the third quarter.

New guidance:

  • Sitowise Group estimates that the net sales in euros will increase compared to 2021, and that the adjusted EBITA in euros will be at the same level or slightly below the adjusted EBITA in 2021.

Previous guidance:

  • Sitowise Group estimates that both net sales and adjusted EBITA in euros will increase compared to 2021.

Background for revising the guidance

During the third quarter, Sitowise’s net sales and order book continued to grow strongly, both organically and through recent acquisitions. The market outlook remains solid in Sweden, but the uncertainty in the construction market in Finland has increased during the third quarter.

The effects on the technical consulting business are not quite as significant, but the risks of somewhat lower activity levels are visible in some of Sitowise’s market segments. Therefore, Sitowise has updated its guidance for profitability in 2022. The guidance for net sales remains unchanged.

Preliminary key figures:

  • The net sales for the third quarter is expected to increase by 16 percent to EUR 45.9 million (EUR 39.6 million in Q3 2021)
  • The adjusted EBITA is expected to be EUR 4.9 million (EUR 4.9 million in Q3 2021).

Sitowise will publish its Interim Report for January-September 2022 on Wednesday, 2 November 2022 at 8.00am (EEST). There will be a webcast for analysts, media and investors at 1.00pm (EEST) on the same day.

Sitowise Group Plc

Additional information:

Hanna Masala, CFO, Sitowise Group Plc, tel. +358 40 558 1323

Distribution:

Nasdaq Helsinki
Major media
www.sitowise.com

About Sitowise

Sitowise is a Nordic expert in the built environment and digital solutions. We provide design and consulting services to enable more responsible and smarter urban development as well as smooth transportation.  We operate in three business areas in Finland and Sweden: real estate and buildings, infrastructure, and digital solutions.

We want to raise the bar for intelligence and sustainability, and that is why our vision is to be the most responsible partner in developing thriving and sustainable living environments. Sitowise has grown rapidly and profitably in recent years. The Group’s net sales in 2021 were approximately EUR 179 million and the company employs more than 2,000 experts. Sitowise Group Plc is listed on Nasdaq Helsinki under the trading symbol SITOWS. www.sitowise.com