The global IoT enabler now expects the sale of its Automotive division (announced in July and initially expected in H2) to complete by the end of January. Meanwhile, the business has continued to trade well and revenue for FY 2018 is on track but we ease our adj. EBITDA expectations from $38.1m to $32.5m and now expect a small loss for the year compared with a small profit previously. Nevertheless, Telit is still on course to see ‘profit in cash’ (adj. EBITDA less capitalised R&am
11 Dec 2018
Telit - Automotive sale and trading update
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Telit - Automotive sale and trading update
- Published:
11 Dec 2018 -
Author:
Cavendish Research -
Pages:
3
The global IoT enabler now expects the sale of its Automotive division (announced in July and initially expected in H2) to complete by the end of January. Meanwhile, the business has continued to trade well and revenue for FY 2018 is on track but we ease our adj. EBITDA expectations from $38.1m to $32.5m and now expect a small loss for the year compared with a small profit previously. Nevertheless, Telit is still on course to see ‘profit in cash’ (adj. EBITDA less capitalised R&am