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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: GlobalData
Provider: GlobalData

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Industrial and Financial Systems IFS AB Maintains FY 2013 Financial Outlook

Tuesday, 26 Mar 2013 03:00am EDT 

Industrial and Financial Systems IFS AB announced that at annual meeting on March 26, 2013, its Chief Executive Officer will inform shareholders of the Company that in the full year report for 2012, released on February 5, 2013,the Company stated that it was planning efficiency improvements to align resources with the evolving direction of its business. At the time, the Company stated that the cost for achieving this would affect EBIT in the first half of 2013, and that the overall cost would be matched by savings realized in the full year 2013, and significantly contribute to improved earnings thereafter. The cost of the ongoing efficiency improvements is expected to amount to SEK 95 million and will, depending on timing issues, be fully or largely charged in the results for the first quarter of 2013. Savings, relative to the current cost base, are expected to be SEK 120 million on a full-year basis. Savings of SEK 95 million are expected for 2013. The outlook for 2013 includes the cost arising from and the savings realized through the ongoing efficiency improvements and remains as previously communicated. For fiscal year 2013, the Company expects license revenue growth and an improvement in EBIT. The Company reported fiscal year 2012 EBIT of SEK 195 million. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2013 EBIT of SEK 249.96 million. 

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