WithSecure Corporation publishes its financial outlook for
WithSecure Corporation, Stock Exchange Release (Inside information), June 3, 2022, 8:00 a.m. EEST
WithSecure Corporation publishes its financial outlook for 2022
As announced in a February 17, 2022 stock market release, WithSecure Corporation will pursue the separation of the Consumer Security business through a partial spin-off.
WithSecure Corporation’s Board of Directors releases financial outlook for 2022, due to the progress of the spin-off process.
Cloud-native product revenue will grow approximately 30% year-on-year, accelerating in the second half of 2022. In the prior year, cloud-native product revenue was 51 .8 million euros.
The group’s comparable revenues will grow at a low double-digit rate compared to the previous year. Prior year comparable revenue, adjusted for divested consulting business, was €122.8 million.
The estimated comparable EBITDA will decrease compared to the previous year. The decline is primarily due to increased investment in new product areas, as well as sales and marketing efforts, including rebranding related to the business spin-off. The estimated comparable EBITDA will improve in the second half of 2022 compared to the first half.
The previously published medium-term financial objectives remain unchanged.
Laura Viita, Director of Investor Relations
+358 50 487 1044