Telit Communications - Trading Statement
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
Year end trading update
Group revenues, excluding revenues of the automotive business sold in
· IoT Cloud and connectivity revenues are expected to be
Group adjusted EBITDA, excluding the contribution of the automotive business sold in
Group profit in cash is expected to be in line with the Board's expectations.
The Group expects to publish its full year results in
"In 2019 Telit improved both its financial position and operating performance, reflected in increased profitability and cash generation.
Telit enters 2020 as a more focussed, agile and innovative group, well positioned to capitalise on growth opportunities in the rapidly expanding industrial IoT market."
Yariv Dafna, Finance Director & President
Tel: +44 203 289 3831
finnCap (Nomad and Broker)
Tel: +44 20 7220 0500
Tel: +44 20 7631 8618
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Telit (AIM: TCM), is a global leader in Internet of Things (IoT) enablement. The company offers the industry's broadest portfolio of integrated products and services for end-to-end IoT deployments - including cellular communication modules in all technologies, GNSS, Wi-Fi, short-to-long range wireless modules, IoT connectivity plans and IoT platform services. Through the IoT Portal, Telit makes IoT onboarding easy, reduces risk, time to market, complexity and costs for asset tracking, remote monitoring and control, telematics, industrial automation and others, across many industries and vertical markets worldwide.
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