TURKU,
Finland, June 28, 2023 /PRNewswire/ -- The
divestment of the services business in Switzerland will sharpen Teleste's focus on
its Broadband Networks' technology business. The divestment does
not have any impact on Teleste's service business in other
countries.
The services business in Switzerland has been operated by Teleste
Network Services SA, a subsidiary of Teleste Corporation. In 2022,
Teleste Network Services SA reported net sales of CHF 5.4 million. The company had 34 employees at
the end of 2022.
The purchase price has been settled in cash. The transaction is
estimated to increase Teleste's cash flow by EUR 2.2 million in Q2 2023, but to have no
material impact on the operating result. Teleste will report the
proceeds from the sale as other operating income. The sale is
categorized as an extraordinary item and the income will be
eliminated from the adjusted operating result and the adjusted
earnings per share. The buyers and Teleste have agreed not to
disclose the transaction value.
"Teleste continues to provide its Broadband Networks products
and technologies to the Swiss customers both directly and via its
sales partner network, and this divestment has no impact on our
product deliveries and deployments. We look forward to fostering
our traditionally strong presence in Switzerland," said Mika Kavanti, Vice
President of Sales, Broadband Networks, Teleste
The operations of Teleste Network Services SA will continue
unchanged under the new ownership. The level and availability of
services remain ensured.
"The change of ownership will have no impact on our current
skills and services. The local management and all the staff will
remain unchanged and will continue to serve our customers with the
same high level of quality. Customer satisfaction will remain our
top priority. Greater independence will allow us to be more
flexible and better adapted to our customers' needs. The services
will be rebranded under new name later this year." stated
Raphael Beaud, Managing Director of
Teleste Network Services SA.
Inquiries for more information:
Esa Harju
CEO, Teleste Corporation
Juha Hyytiäinen
CFO, Teleste Corporation
Tel. +358 2 2605 611
About Teleste
Teleste offers an integrated product and service portfolio
that makes it possible to build and run a better networked society.
Our solutions bring television and broadband services to you,
secure your safety in public places and guide your use of public
transport. With solid industry experience and drive for
innovations, we are a leading international company in broadband,
security and information technologies and related services. We
connect with our customers through a global network of offices and
partners. In 2022, Teleste's net sales reached EUR 165 million and it had approximately 860
employees. Teleste is listed on Nasdaq Helsinki. For more
information, see www.teleste.com and follow @telestecorp on
Twitter.
View original
content:https://www.prnewswire.co.uk/news-releases/teleste-has-sold-its-broadband-networks-planning-and-services-unit-in-switzerland-to-the-local-management-and-a-private-investor-301865593.html
