Based on the information available for the period July-September 2017, G5 forecasts quarterly revenue of approximately SEK 265 M, which corresponds to achieving 110 per cent revenue growth versus comparable figures for the same period 2016.
For the interim period January-September 2017, G5 forecasts revenue of approximately SEK 776 M, which corresponds to achieving 134 per cent revenue growth versus comparable figures for the same period 2016.
Vlad Suglobov, G5's CEO, comments: "We do not normally comment on currency exchange rates, but it is a special situation in this quarter. Since the beginning of the year SEK has strengthened against two currencies responsible for approximately 70% of the group's revenue: USD and JPY. This affected our rate of growth negatively in the first half of the year, but it was still very high in SEK terms because of extremely strong sequential growth. There was further sharp strengthening of SEK against USD and JPY during Q3. At the same time, our sequential growth has slowed down to more normal sustainable levels: 6% in USD terms from Q2 to Q3, according to our internal revenue reports. While healthy, this rate of sequential growth was not enough to compensate for the strengthening of SEK in this particular quarter, and as a result our sequential quarterly numbers show decline, despite the fact that the company continues to grow fundamentally."
More information about the Company can be found on www.g5e.se/corporate.
This information was distributed by Cision http://www.cisionwire.se/