IC Group revises EBIT outlook for FY17/18

Based on the preliminary financial figures for the first three quarters of the financial year, IC Group’s board of directors has revised the earnings forecast for the financial year 2017/18. The company said that it now expects the EBIT margin to increase to approximately 6 percent compared to previous estimate of approximately 5 percent. However, the group still expects to a minor revenue reduction compared to the financial year 2016/17.

The company added that this upward revision is primarily attributable to a faster than expected implementation of the new organizational structure as reported in May 2017. In particular, the re-organization and adjustments of IC Group's central functions at its headquarters have been implemented faster and more efficiently than initially expected. Investments for the financial year are expected to amount to approximately 2-3 percent of annual revenue against previous expectation of 3-4 percent.

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