Heeros Oyj | Press Release | June 08, 2023 at 14:59:00 EEST

Heeros has completed the co-operation negotiations that started on May 15, 2023, concerning the entire personnel of Heeros Oyj and the subsidiary Taimer Oy. The purpose of the change negotiations was to sharpen strategy execution and to strengthen cash flow during the year 2023.

The negotiations concerned the dismissal of less than ten employees, and the negotiations led to the termination of eight employments. Terminations are distributed across company's various functions.

Employment terminations and other identified cost savings will be implemented by the end of this year, so that they will be realized in full during 2024.

Heeros repeats its financial outlook for 2023 published on February 1, 2023: Heeros estimates that its combined EBITDA margin (EBITDA, % of revenue) and revenue growth percentage (Rule of 40) will be at the level of 30% during the 2023 financial period.

Contacts
Additional information:
Heeros Oyj,
CEO Niklas Lahti, mobile +358 40 7741 777
E-mail: niklas.lahti@heeros.com
Distribution:
Nasdaq Helsinki
Essential media outlets
www.heeros.com/en/for-investors

About Us
Heeros is a Finnish software company specializing in cloud-based business management solutions. Heeros solutions meet the changing needs of SMBs that are looking to invest in integrated, user-friendly systems used across the organization. Heeros portfolio covers solutions to digitalize key business processes from financial and human resources management to enterprise resource planning. Established in 2000, Heeros’ shares are listed on Nasdaq First North Growth Market Finland (trading ID: HEEROS). www.heeros.com

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