Solteq Plc’s Financial Statements Bulletin January 1 – December 31, 2023 published

Solteq Plc has published Financial Statements Bulletin January 1 – December 31, 2023. 

We decided on two very significant company matters in the last quarter. Due to the changed circumstances, the treatment of product development costs was updated and aligned with the new operational logic. We ceased product development cost activations during the quarter and fully wrote off the activated product development costs of EUR 7.5 million from the balance sheet. Additionally, we concluded the change negotiations for the Utilities segment, resulting in an annual cost reduction of approximately EUR 3.8 million. Both implemented matters positively affect the company's business, but particularly the change in product development cost treatment practices complicates the comparison of the quarter to the corresponding quarter of the previous financial year.

The comparable revenue of Solteq Plc was EUR 14.2 million, remaining at the comparison period’s level. The comparable revenue decreased by 1.4 percent in Retail & Commerce and increased by 4.3 percent in Utilities.

The entire Financial Statements Bulletin is available at Solteq's Investors site.