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Oct 29, 2020
TELESTE CORPORATION INTERIM REPORT 1 JANUARY TO 30 SEPTEMBER 2020 NET SALES AND RESULT DECREASED DUE TO THE COVID-19 PANDEMIC AND THE TECHNOLOGICAL TRANSFORMATION OF ACCESS NETWORKS, PROGRESS MADE WITH THE CABLEWAY DIVESTMENT The income statement figures presented in this interim report only include continuing operations, except where otherwise noted. The figures in the statement of financial position and the cash flow statement include both continuing and discontinued operations. July-September 2020, continuing operations - Adjusted operating result stood at EUR 2.2 (3.1) million, a decrease of 27.9% - Operating result amounted to EUR 2.2 (3.1) million, a decrease of 27.9% - Earnings per share were EUR 0.09 (0.14), a decrease of 33,0% - Earnings per share including discontinued operations amounted to EUR -0.38 (0.14), a decrease of 366% - Cash flow from operations, including discontinued operations, was EUR -2.8 (0.3) million, a decrease of 901% - Orders received totalled EUR 29.8 (31.5) million, a decrease of 5.4% - Order backlog at period-end totalled EUR 73.1 (67.5) million, an increase of 8.4% January-September 2020, continuing operations - Adjusted operating result stood at EUR 3.8 (7.1) million, a decrease of 46.4% - Operating result amounted to EUR 3.2 (-0.2) million, with the figure for the comparison period including losses and a provision totalling EUR 7.3 million arising from a crime against a foreign subsidiary - Earnings per share were EUR 0.10 (-0.11) - Earnings per share including discontinued operations amounted to EUR -0.57 (-0.13) - Cash flow from operations was EUR 8.5 (-3.8) million - Orders received totalled EUR 105.7 (120.2) million, a decrease of 12.1% Outlook for 2020 Due to the COVID-19 pandemic, many countries in Teleste's main market area have imposed restrictions effecting Teleste’s customers’ and company’s own operations. At present, it is difficult to estimate the extent of the negative impact of the pandemic on Teleste's net sales and operating result for the financial period 2020. We estimate the company’s comparable net sales and comparable adjusted operating result of continuing operations for 2020 will remain below the 2019 level.