Temenos cuts 2024 outlook for second quarter in a row
Adds CEO quotes, cost cutting programs in paragraphs 1, 4-7
By Marleen Kaesebier and Isabel Demetz
Oct 23 (Reuters) -Swiss banking software firm Temenos TEMN.S lowered its full-year outlook on Wednesday for the second quarter in a row and said it launched a "company-wide efficiency program" that includes reorganizations at management level.
Releasing third-quarter results, Temenos said in a statement sales execution issues in the Middle East and Africa (MEA) led to a software licensing revenue slightly below a company compiled consensus expected at $101.5 million.
"We had clearly expected a significantly stronger software licence number than was delivered," CFO Takis Spiliopoulos said, adding "the issues in MEA were not linked to any change in customer behavior or change in the overall sales environment but were specific to sales execution."
The Geneva-based company now expects software licensing sales to be "flattish" in 2024, having previously expected the sales to grow 3% to 6% in 2024. This figure had already been cut from 7%-10% in July when the company cited impact from a short seller report.
"We have acted decisively to address the sales leadership issues in the region and conducted a detailed review of the Q4 '24 pipeline," CEO Jean-Pierre Brulard said in a statement.
Brulard, who joined the company in May after interim CEO Andreas Andreades came under pressure to step down from activist shareholder Petrus Advisers, added that Temenos had launched an efficiency program "designed to reduce management layers and organizational complexity."
Temenos is set to present a mid-term outlook and financial plan at its Capital Markets Day on Nov. 12.
Reporting by Marleen Kaesebier and Isabel Demetz in Gdansk; Editing by Christoph Steitz, David Evans and Emelia Sithole-Matarise
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
