Waystream revises its growth projection and reorganizes Sales department

Waystream, who develops and sells advanced digital infrastructure such as switches and routers for fiber-based broadband networks, is re-organisiing its Sales department. With this reorganisation, all Sales staff will report directly to CEO Johnny Hedlund. The reorganisation is a consequence of the revised annual growth projection.

Previously, Waystream has announced that the company has pulled out of Russia and Poland where the sales and marketing conditions have gradually deteriorated during this year. Instead, the company has chosen to focus on the DACH region, i.e. Germany, Austria and Switzerland, where it believes that there is a greater potential for growth. This autumn, Waystream has hired Ulrich Hammerschmidt as the national channel manager for the region to supplement local distributors so that they can perform better and more efficiently in the market.

The reorganisation is a consequence that the company will not reach the 20% annual growth target that has been previously announced. Waystream expects, however, that the fourth and final quarter will show a 20% increase compared with the same period one year ago.

In conjunction with the reorganisation, the position of International Sales Manager that is part of the Management Team and currently held by Peter Hagberg, is removed. Peter has therefore chosen to leave the company.

For more information, contact:
Johnny Hedlund, CEO Waystream
Mobile: +46 (0) 734 – 38 23 29
Email: johnny.hedlund@waystream.com

About Waystream
Waystream sells and designs advanced digital infrastructure including switches and routers. With our products and expertise, we help telecom operators and service providers to offer reliable and usercentric network services with a high level of functionality. Our products are smart, easy to use and manage, and designed to create the best possible experience for the end user.

The company is traded on the NASDAQ OMX First North. Waystreams Certified Adviser is Avanza Bank.  

This information is such that the Company is obligated to provide according to EU market abuse regulations. The information is delivered, by the supervision of above contact persons, to be published on December 18, 2016 at 16:00 CET.