Lower than expected volumes in the last financial quarter of the year have forced Teleste to lower its guidance for 2023.
The Finnish tech firm is now estimating net sales in 2023 to come in between €145-152 million and that the adjusted operating result in 2023 will be €1-2 million.
Its issued new guidance anticipating its Broadband Networks business will remain at a lower level than previously expected in the last quarter of the year. It follows a period of delays to orders caused by the availability of materials.
Previously, Teleste estimated that net sales in 2023 would amount to €150-160 million and that the adjusted operating result in 2023 will be €2-3 million.
Teleste has now brought in several measures to target reducing costs and securing cash flow.
