Net sales

Net sales in 2021 are estimated at the same level and operating results lower than the previous year due to the reassessment of the revenue recognition of a major project and the write-off of goodwill

QPR Software Oyj

QPR SOFTWARE PLC, STOCK MARKET RELEASE, FEBRUARY 14, 2022, AT 8:30 PM

QPR Software Plc (“Company”) estimates that the company’s net sales in 2021 will be at the level of net sales in 2020. The company’s EBITDA and operating results are expected to decline compared to 2020.

The company’s net revenue growth is lower than expected due to the reassessment of revenue recognition on a major project. This revaluation will result in lower net sales and operating results than previously estimated.

When preparing the financial statements, the Company reassessed the goodwill related to the acquisition of Nobultec Oy in 2011 and the carrying amount of certain product development capitalizations using the precautionary principle and a sensitivity analysis, and concluded that certain radiations are necessary to be executed.

New forecasts for the year 2021: the company estimates that net sales will remain at the same level, and that EBITDA and operating income will be at a lower level than the previous year.

Previous guidance, published on October 22, 2021:
QPR Software Plc expects net sales to increase 4-9% in 2021 (2020: €8,971 thousand), and EBITDA and operating results to improve compared to 2020.

QPR Software Plc
board of directors

For more information, please contact:
Jussi Vasama,
Chief Executive Officer, QPR Software Plc
Phone. +358 50 380 9893

About QPR Software
QPR Software Plc (Nasdaq Helsinki) provides process mining, performance management and enterprise architecture solutions for digital transformation, strategy execution and business process improvement in more than 50 countries. QPR software empowers customers with valuable insights to make informed decisions that make a difference.
Dare to improve. www.qpr.com

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