A €7.7 million impairment in Teleste’s German services business has the Finnish tech firm to deliver a profit warning.
The company has also recorded a €1.6 million provision related to the restructuring of the business. The restructuring will be carried out later in the year.
The impairment, coupled with a low share of orders scheduled for 2017 has led to a new outlook statement, though the company says business outlook remains favourable in the medium term.
It’s estimated net sales and operating profit for 2017 will remain below the 2016 level.
