Intershop Communications, a German software company, has announced a widened loss in the first half of the year. The company adjusted its forecast for 2023, attributing the decision to economic uncertainties that are impacting customers’ investment decisions.
Financial Details
According to preliminary results, Intershop Communications recorded a loss before interest and taxes of €800,000 ($898,200) in the period, compared to a loss of €525,000 in the same period last year. However, the company experienced a slight increase in revenue, which reached €19.4 million, up from €18.52 million.
Revised Forecast
Looking ahead to the full year, Intershop Communications anticipates an improvement in EBIT loss compared to the previous year, alongside moderate revenue growth. Initially, the company had projected a “balanced” operating income from the prior year and a 10% increase in revenue. However, due to the uncertain overall economic situation, potential customers have displayed a noticeable reluctance to invest. This has led to the adjustment in the company’s forecast.
Upcoming Results
Intershop Communications is expected to release its first-half results on July 26.
