Otovo AS Class A (DE:89K) has released an update.
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Otovo AS Class A reported a 42% decline in revenue for Q3 2024 compared to the same period last year, largely due to challenging market conditions and restructuring efforts. The company has implemented cost-saving measures, including downsizing and operational streamlining, which are expected to improve profitability in the medium term. Despite short-term challenges, Otovo anticipates increased sales as market conditions improve.
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