Nixu lowers its financial guidance for 2021

Nixu Corporation changes its guidance from previous as follows:

New guidance for 2021:
Nixu estimates its revenue to remain on the same level and its EBITDA to decrease from 2020.
Simultaneously investments to growth are increased.

Previous guidance for 2021:
Nixu estimates its revenue to grow organically and its EBITDA to increase from 2020.
Simultaneously investments to growth are increased.

During financial year 2020 Nixu’s revenue was 53.3 MEUR and EBITDA 2.9 MEUR.

In Q1 2021, Nixu established a new international operating model and revised its organizational structure. During H1 2021, the change, together with fewer than estimated staff, somewhat slowed down the daily operations while it increased the costs related to the implementation of the new model. In the longer term the new model is expected to increase efficiency.

In addition, EBITDA was burdened by one time cost of Dutch COVID-19 NOW-benefit related subsidies received in 2020. Based on the final review by authorities the conditions were not met and the subsidies were returned. The subsidy of 0.3 MEUR increased EBITDA in 2020 and now decreases EBITDA in 2021 with similar amount.

Overall in 2021 Nixu estimates the market demand to further pick up speed during H2 in the markets where Nixu is operating. Together with increased recruitments Nixu expects growing revenues during H2 when compared to the corresponding period of the previous year.

Nixu will publish its 2021 half-year financial report on August 12, 2021.

Nixu Corporation

Further information:
Chief Executive Officer Petri Kairinen, NIXU Corporation
telephone +358 40 832 1832, email: petri.kairinen@nixu.com

Distribution:
Nasdaq Helsinki
Principal media
www.nixu.com/en

Nixu in brief:
Nixu is a cybersecurity services company on a mission to keep the digital society running. Our passion is to help organizations embrace digitalization securely. Partnering with our clients we provide practical solutions for ensuring business continuity, an easy access to digital services and data protection. We aim to provide the best workplace to our team of about 400 cybersecurity professionals with a hands-on attitude. With Nordic roots, we serve enterprise clients worldwide. Nixu shares are listed on the Nasdaq Helsinki stock exchange.
www.nixu.com