Company announcement no. 7 / 2024
Schindellegi, Switzerland – 1 February 2024
Trifork adjusts outlook for 2023 financial results and reports strong performance in Trifork Labs
Based on preliminary results for the fourth quarter of 2023, Trifork adjusts the full-year 2023 guidance as follows:
- Revenue is expected to be EURm 207-209 (previously EURm 207-212).
- Trifork Segment adjusted EBITDA is expected to be EURm 34.5-35.5 (previously EURm 34.5-36.5).
- Group EBIT is expected to be EURm 19.2-20.2 (previously EURm 20.5-22.5).
- In Trifork Labs, the review and audit until now has resulted in positive fair value adjustments of EURm 9.9 in the fourth quarter equal to EURm 6.9 for the full year 2023.
- The result from Trifork Labs positively contributes to Group EBT in 2023, which is expected to total EURm 20.8-22.8 (no previous guidance provided).
All results are subject to a finalized external audit.
The guidance update on revenue and adjusted EBITDA in the Trifork Segment is partially explained by customer engagements expected to commence in the first half of 2024 instead of the fourth quarter of 2023 and continued investments in business development.
The lower EBIT guidance is primarily related to higher depreciations than expected in relation to Trifork units moving from old offices into new offices. In 2023, Trifork established new offices in Copenhagen, Aarhus, Eindhoven, Barcelona, and Palma.
The increased fair value in Trifork Labs is primarily driven by two investments delivering significantly stronger-than-expected operational and financial performance through 2023 and in the fourth quarter.
More details and full-year financial guidance for 2024 will be provided when Trifork publishes its 2023 Annual Report on 28 February at 07:00 CET.
Trifork is currently observing its mandatory quiet period until the release of the 2023 Annual Report.
An online conference call and Q&A with CEO Jørn Larsen and CFO Kristian Wulf-Andersen will take place on 28 February at 11:00 CET via the following Zoom link: https://trifork.zoom.us/j/98723267006?pwd=T1ZoN1Y1cExvRU1KaCtxdkpLQXBEZz09.
An overview of Executive Management’s upcoming investor activities can be found here: https://investor.trifork.com/events/
For further information, please contact:
Investors
Frederik Svanholm, Group Investment Director & Head of IR
frsv@trifork.com, +41 79 357 7317
Media
Peter Rørsgaard, CCO Fintech & Head of Press
pro@trifork.com, +45 20 42 24 94
About Trifork
Trifork is a global NextGen IT company that develops innovative software solutions in collaboration with its customers. As of Q3 2023, the company had 1,202 employees across 72 business units and offices in 15 countries in Europe, USA, and Australia. Trifork works in six business areas: Digital Health, FinTech, Smart Building, Cloud Operations, Cyber Protection, and Smart Enterprise. Trifork’s research and development takes place in Trifork Labs, where Trifork continuously invests in and develops technology startups with clear synergies between the startup and Trifork. Trifork is behind the brand GOTO, which runs a global tech community with more than 58 million views on YouTube and Instagram. Trifork Holding AG is a publicly listed company on Nasdaq Copenhagen.
