NNIT A/S: 8/2017 NNIT settles an arbitration with a public customer and changes outlook for 2017
(Thomson Reuters ONE) -
Company announcement 8/2017
Søborg/Copenhagen, October 20, 2017
NNIT settles an arbitration with a public customer and changes outlook for 2017
NNIT A/S ("NNIT"), a leading provider of IT services and consultancy announces
that it has settled an arbitration with a public customer.
The arbitration was initiated before NNIT's IPO in 2015 and is described in the
IPO prospectus.
As a consequence of the settlement, NNIT makes a one-time revenue reversal of
DKK 33 million impacting operating profit negatively by DKK 33m.
As a result, NNIT changes outlook for 2017:
* Expected revenue growth is narrowed to 4-6% in constant currencies
(previously 4-8%). Expected organic growth is narrowed to 1-3% (previously
1-5%). The impact of the settlement on revenue growth is approximately 1pp
* Expected operating profit margin is lowered to around 9% (previously around
10%) due to the settlement. The underlying operating profit margin excluding
the settlement is maintained to be around 10% in constant currencies
The settlement does not have any impact on NNIT's long-term targets.
A detailed description of the arbitration was disclosed in the 2015 IPO
Prospectus as well as in the annual reports for 2015 and 2016, which can be
found at www.nnit.com/pages/investor.aspx.
Contacts for further information
Investor contacts:
Jesper Wagener, Head of Investor Relations: +45 3075 5392, jvwa(at)nnit.com
Media contacts:
Rikke Dalager, Head of Communications: +45 3077 8080, rida(at)nnit.com
About NNIT
NNIT A/S is one of Denmark's leading IT service providers and consultancies.
NNIT A/S offers a wide range of IT services and solutions to its customers,
primarily in the life sciences sector in Denmark and internationally and to
customers in the public, enterprise and finance sectors in Denmark. As of June
30, 2017, NNIT A/S had 2,965 employees. For more information please visit
www.nnit.com.
NNIT settles an arbitration and changes outlook for 2017:
http://hugin.info/163771/R/2137933/821228.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: NNIT A/S via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 20.10.2017 - 14:05 Uhr
Sprache: Deutsch
News-ID 564559
Anzahl Zeichen: 2732
contact information:
Town:
Søborg
Kategorie:
Business News
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