QPR Software, a Finnish mining and architecture software company, has announced that it expects a decline in net sales at the end of the year. This is primarily due to the early completion or reduced scope of some consulting projects in the domestic public sector.
Despite this setback, QPR Software remains optimistic about its overall performance for the full year. The company predicts that its net sales will remain flat compared to the previous year, thanks to the growth of its software business.
In particular, QPR Software is confident that its software as a service (SaaS) turnover for 2023 will continue to expand. It expects this segment to grow by more than 35% compared to the previous year. Additionally, the company foresees growth in its non-consulting business activities as a whole.
QPR Software aims to maintain its turnover at the same level as in 2022 when it reported 7.8 million euros ($8.2 million). This is an ambitious target considering the expected decline in net sales from consulting projects. However, the company believes that the strong performance of its software business will offset this decline.
Furthermore, QPR Software is confident that it will see a turnaround in its earnings before interest, taxes, depreciation, and amortization (EBITDA). After reporting an EBITDA loss of EUR1.75 million the previous year, the company anticipates a positive EBITDA for the current year. QPR Software attributes this improved profitability to significant cost-saving measures and a strategic focus on its more profitable SaaS and software business.
In conclusion, while QPR Software expects a decline in net sales due to certain consulting projects, it remains optimistic about its overall performance. The company anticipates continued growth in its software business and aims to maintain its turnover at the same level as the previous year. With cost-saving measures in place and a strategic focus on profitability, QPR Software is confident in its ability to achieve positive financial results.
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