Vivendum reiterates full-year profit forecast
By Alexander Bueso
Date: Thursday 24 Nov 2022
(Sharecast News) - Videndum reiterated its full-year guidance for full-year profits before tax despite the uncertain economic environment and weakness in consumer spending.
The outfit, a provider of hardware and software for the content creation market, reported "strong" demand in its Media Solution and Production Solutions units, while demand at its Creative Solutions division remained "high".
Management also guided towards a covenant net debt-to-earnings before interest, taxes, depreciation and amortisation of 2.2 as at year end 2022.
"The fundamental growth drivers of the business remain very positive, and these are underpinned by technology change driving shorter product replacement cycles," group chief executive officer, Stephen Bird, said.
"The Group's market-leading, premium brands allow us to manage inflationary headwinds with pricing actions and to manage supply chain challenges through operational excellence."
In the same statement, the company announced the appointment of Teté Soto to its Board of Directors as well as to its Audit, Remuneration and Nominations Committees.
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