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Siili Solutions: Cuts 2024 guidance - SEB

Siili just came out with a profit warning, cutting the sales guidance mid-point by 15% while EBITA-guidance mid-point comes down 39% or EUR 3.5m. We had already input FY 24 sales estimate below the guidance range. However, the new midpoint for EBITA is some 37% below our estimate. Despite some positive signs, the recovery is taking longer than expected and the company is also feeling the cuts in the Finnish public sector.

Siili just came out with a profit warning, cutting the sales guidance mid-point by 15% while EBITA-guidance mid-point comes down 39% or EUR 3.5m. We had already input FY 24 sales estimate below the guidance range. However, the new midpoint for EBITA is some 37% below our estimate. Despite some positive signs, the recovery is taking longer than expected and the company is also feeling the cuts in the Finnish public sector.
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