Our Interim Report 1 January 2023 – 31 March 2023 has been published.
Solteq Plc's first quarter was moderate and profitability development was better than we expected. The Group's revenue was EUR 16.9 million, EBITDA EUR 1.3 million, and comparable operating result EUR 0.1 million. The Group's revenue decreased by 12.2 percent from the comparison period partly due to the general decline in demand and, especially, to the continued quality problems in the Utilities business.
Profitability decreased from the comparison period in both segments. The Retail & Commerce segment was able to balance the challenging market situation with successful sales and improved efficiency. The Utilities segment continued to focus on solving problems in the development and quality of software products, which reduced customer invoicing and increased project delivery costs.