Teleste: Demand slows in H1
August 8, 2013
Finnish technology company Teleste has reported that net sales amounted to €46.5 million, a decrease of 6.4 per cent, for the period January 1st to June 30th. Operating profit stood at €1.7 million, a decrease of 28.2 per cent. Orders received totaled €44.2 million, a decrease of 10.1 per cent.
Jukka Rinnevaara CEO commented: “Network investments of our Video and Broadband Solutions business were slowed down by the operators’ on-going significant consolidations as well as comparisons between future network technologies. Net sales increased on account of the Asheridge acquisition made at the beginning of April 2013. The year-on-year operating profit improved mainly due to the good level of deliveries in video surveillance. The decline in Network Services’ net sales and the operating profit being in the red were caused by the lower demand of services in Germany. We expect the current adjustment of cost structure in Germany to improve profitability as early as in the third quarter of this year.”