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Solteq is an IT consulting company. The company specializes in ERP - Enterprise Resource Planning. Other services offered are related to financial management and inventory management. The customers consist of small and medium-sized business customers operating in the retail and hospitality industries. The operations are conducted on a global level, mainly in Europe, North America and Asia.
The divide deepened: the turnaround seen at the end of last year did not extend to the sector as a whole, and differences between companies widened even further in Q2.
Solteq reported a weak Q1, with both revenue and earnings below estimates. The Retail and Commerce segment was hit by the subdued customer demand more than expected, while Utilities continued its gradual improvement and slightly beat our revenue estimate...
Solteq reports Q1 on 29 April. We expect gradual improvement through the year as savings feed through to profitability, but visibility on sales development remains limited.
Solteq reported its first comparable revenue growth in eight quarters, driven by the Utilities segment. However, profitability remained weak as expected, well in line with our estimates.
