Solteq Plc to Initiate an Efficiency Programme Concerning Commerce Back-End System Solutions

Regulatory News:

On 25.5.2016 Solteq Plc revealed its new growth strategy. One of the strategic targets was to increase profitability by implementing operational improvements.

We want to ensure that our commerce solutions continue to be the best and most cost-efficient alternatives for our customers. In accordance with our strategy, we wish to improve our profitability and have therefore initiated an efficiency programme for commerce back-end system solutions.

The efficiency programme for commerce back-end system solutions is driven by decline in demand for older technologies and a decline in order back-log of commerce back-end system solutions. One of the efficiency programme procedures we have undertaken is the initiation of codetermination negotiations in the SAP, NAV, AX and Tekso business. Should the negotiations result in any impact on personnel, the impact will result in layoffs affecting a maximum of 25 persons.

Solteq's VP, Client Technologies, Tiina Honkiniemi says: "The disruption of commerce can also be seen in our business operations. On one hand we are taking commerce towards a more modern and digital era, and we are reaping good results around the core of digital commerce. On the other hand, we have to critically review our own solutions portfolio and make sure that it remains attractive and competitive in tomorrow's world. And carry out even unpleasant measures, if necessary."

Solteq Plc will keep its guidance unchanged and expects its revenue to grow significantly compared to financial year 2015. The operating result and operating result before non-recurring items are expected to grow compared to financial year 2015 as well.

DISTRIBUTION NASDAQ OMX Helsinki Key media channels www.solteq.com

Solteq in Brief

Solteq is a digital commerce expert that provides you with integrated total solutions for multichannel commerce: from back office processes all the way to the purchasing experience of the customer – from supply chain management to digital marketing. Our passion is to deliver the unexpected to our clients – in the fast changing world, you need a partner that can deliver today what you will need tomorrow. We employ about 500 experts in three countries and make deliveries to Europe, North America, Asia and Australia. In 2015, our annual net sales amounted to 54 million euro.

This information was brought to you by Cision http://news.cision.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20160622006563/en/