Siili Solutions Oyj lowerd group revenue guidance for 2023. The company expects now the group revenue for 2023 to be EUR 120 million to EUR 140 million. The previous guidance for the current year’s group revenue was EUR 125 million to EUR 145 million.

Reasoning for the updated financial guidance: The weakening of the market conditions during the current year has increased uncertainty which is slowing down the commencement of new projects within Siili clientele both in Finland as well as internationally. Respectively, the price competition in the market has increased, which makes it more difficult to transfer the inflation-based costs to customer prices. These factors are expected to weaken the company’s profitability this year in comparison to the previous estimate.

The company will intensify and introduce measures to increase sales and improve cost efficiency in the changed market environment.