Basware Corporation, stock exchange release, January 2, 2017 at 14:30
Update on personnel costs and 2016 reporting
Basware launched a productivity programme on November 2, 2016 to simplify its operations and increase scalability, aimed at accelerating the growth of its cloud-based business and increasing productivity.
The costs booked in 2016 related to personnel reductions being part of the productivity programme will amount to roughly EUR 5 million and will be included in "Adjustments to EBITDA" in Basware's fourth quarter and full year 2016 reporting. The targeted annual savings related to personnel of approximately EUR 7 to 8 million starting from 2018 are unchanged, in addition to other potential savings through the programme.
Basware will publish its Financial Statements Bulletin for 2016 on Wednesday, February 1, 2017.
For more information, please contact:
Ben Selby, Head of Investor Relations, Basware Corporation
Tel. +358 50 305 8077, firstname.lastname@example.org
Basware (Nasdaq: BAS1V) is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Basware's commerce and financing network connects businesses in over 100 countries and territories around the globe. As the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers. Find out more at www.basware.com/investors.
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