Field Solutions Holdings (ASX:FSG) restructured its operations after a review found high revenue concentration across customers in mining and wholesale groups, increasing its exposure risk to market and customer changes, according to a Friday filing with the Australian bourse.

As part of the restructuring, the company has ceased telecommunications network provider nbn's wholesale operations and started reducing related operating costs, with full implementation expected by May, the filing said.

The company is also in the process of negotiating the termination of related contracts. In addition, it has made a non-binding offer to sell its mining business unit, with due diligence underway by an interested party, the filing added.

Following lower-than-expected fiscal first-quarter revenue and margins, the company said it expects continued challenges for the remainder of the year as it works through its review and capital raising efforts.

Once the review and capital raise are completed, the company expects a return to modest earnings before interest, taxes, depreciation, and amortization (EBITDA), with stronger EBITDA growth in the medium term.