Challenges posed by major customers holding back on orders

Press contact: Helgrid Jenne

SEVEN PRINCIPLES AG (7P), a German IT consulting and services company focusing on the digitalisation of business processes, expects to remain profitable in the 2023 financial year despite various challenges posed by the reluctance of several major customers to place orders.

According to the unaudited half-year results, consolidated revenue of
approximately EUR 37.2 million (previous year: approximately EUR 41.6 million) and EBIT of approximately EUR 0.2 million (previous year: approximately EUR 2.5 million) were achieved. From the second quarter of the current financial year onwards, the company suffered sharp declines in revenue due to the consolidation programme of a major customer. In addition, other major customers have delayed the awarding of new projects. Against this backdrop, the annual forecast has been adjusted as follows:

For the 2023 financial year, revenue of EUR 65 million to EUR 67 million (previously EUR 72 million to EUR 84 million) and gross profit of EUR 41 million to EUR 43 million (previously EUR 44 million to EUR 48 million) are expected. The new forecast for EBITDA is EUR 1.0 million to EUR 1.5 million (previously EUR 3.3 million to EUR 4.0 million) and for EBIT EUR 0.3 million to EUR 0.7 million (previously EUR 2.5 million to EUR 3.2 million).