Q4 difficult as expected, more detail on cost savings program
The report came with no major surprises given that the figures were partly pre-announced, and EBITA was EUR -4m (ABGSCe -2.4m). The main reason for the poor figures was inflation on input costs, but the company also saw customers slowing their purchasing activity. Eltel also gave some additional detail on its pre-announced cost savings program, wherein the company will take a one-off expense of EUR 5m in Q1 in order to gain an expected annual EBITA effect of EUR +10m starting in Q2 by scaling down its workforce.
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