ROVI reports operating revenue growth of 3% for the first nine months of the first post-pandemic year
Wed, 08/11/2023 - 00:00
5 minROVI reports operating revenue growth of 3% for the first nine months of the first post-pandemic year
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ROVI REPORTS OPERATING REVENUE GROWTH OF 3% FOR THE FIRST NINE MONTHS OF THE FIRST POST-PANDEMIC YEAR
OUTLOOK
In November 2022 and February 2023, ROVI announced that it expected the 2023 operating revenue to decrease by a low-teen percentage in comparison with 2022. When the company published its results for the first half of 2023, this guidance was updated to a high-single-digit percentage decrease on 2022. With the visibility that the company has at present, ROVI is again raising its operating revenue guidance for 2023 from a high-single-digit percentage decrease on 2022 to stable sales.
It is reasonable to expect the company’s results to undergo a downward adjustment in 2023.
For 2024, ROVI expects its operating revenue to decrease by a mid-single-digit percentage in comparison with 2023. Notwithstanding, there are certain factors that have been considered when calculating this guidance that, although they could be relevant to the estimates, are difficult to specify at present, including, among others:
LAUNCHING OF A SHARE BUY-BACK PROGRAMME
ROVI informed that the Company launched, effective as of 26 July, 2023, a share buyback programme (the “Buy-back Programme”), in accordance with the following terms (see further information on page 26):
As of 31 October 2023, ROVI had executed approximately 27.67% of the buy-back programme, having acquired 747,049 shares.