Teleste, a technology company specializing in broadband technologies, experienced a mixed first year with the adjusted operating result holding steady but turnover plummeting. The company anticipates a loss in the second quarter. Their January-March report revealed both positive and negative aspects, with adjusted operating profit reaching 1.5 million euros, meeting expectations. However, reported operating profit fell to -0.2 million euros, and turnover experienced a significant decrease of 19.3 percent.
CEO Esa Harju noted that while turnover decreased, relative profitability improved, and the operating cash flow remained strong. Orders received declined in the Broadband Networks business unit due to low demand in the European market, but there was improvement in gross margin and cost savings. Orders increased in the Public Safety and Mobility unit, but turnover was lower than in the comparison period.
Teleste aims to grow their business in North America to counter the uncertainty in the European market and focus more strategically on train manufacturers and public transport in the Public Safety and Mobility sector. The company maintains its guidance for the year, estimating turnover between 140-165 million euros and adjusted operating profit between 3-6 million euros.
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