Zenterio Reports Fourth Quarter
Comments from Jorgen Nilsson, CEO of Zenterio: The fourth quarter has again been a busy one. Our greatest challenge in this quarter has been the large number of software releases for our main customers. We have now delivered more than 10 major software releases to the Deutsche Telekom Group. It has been a fantastic achievement, and it is bigger than anything that Zenterio has done in the past.
However, as a result of these large demands on the organization, we have been forced to increase the number of resources as well as use overtime when needed. Those efforts have naturally increased our overall cost base. In addition, our quarterly result was impacted by the consequences of our largest customer’s multi year fixed-priced program. We have identified additional risk factors and prudently revised the profitability levels from the start of the program up until the end of the quarter. Hence both revenue and EBITDA for the fourth quarter were impacted by this SEK 19.8 million program write down accumulated from the beginning of the project, leading to negative development on EBITDA, compared to the same quarter last year.