DORTMUND (dpa-AFX) - IT service provider Adesso is sticking to its forecasts for the full year despite a weak first quarter. Despite the earnings development falling short of expectations, the outlook for the rest of the fiscal year remains positive, the SDax company announced in Dortmund on Friday evening. A normalization of the sickness rate and an increase in capacity utilization are to be expected. The order backlog is at a record level. On this basis, the original forecast for 2023 of more than one billion euros in sales with earnings before interest, taxes, depreciation and amortization (Ebitda) of 100 to 110 million euros was confirmed.

According to preliminary figures, sales in the first quarter increased by 32 percent to 276.2 million euros. The cyber attack on IT discovered in January did not have a significant impact, it added. The company strongly accelerated its workforce expansion. Operating profit (Ebitda) fell 36 percent to 17.9 million euros compared to the same period last year, which benefited from higher license sales and other operating income. Significantly higher personnel expenses had a negative impact. The Group's earnings slumped to 2.0 million euros. A year earlier, Adesso had earned 12.5 million.

In an initial reaction, Adesso's share price on the Tradegate trading platform plummeted by four percent compared to the closing price on the main Xetra trading platform. The full quarterly statement is to be published on May 15./jha/he