23.03.2017
11880 Solutions AG DE0005118806
DGAP-News: 11880 Solutions AG publishes 2016 financial results: EBITDA still depressed by company restructuring - Positive trend in operating business
DGAP-News: 11880 Solutions AG / Key word(s): Final Results
11880 Solutions AG publishes 2016 financial results: EBITDA still depressed
by company restructuring - Positive trend in operating business
23.03.2017 / 08:00
The issuer is solely responsible for the content of this announcement.
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Munich / Planegg, 23 March 2017 - 11880 Solutions AG today announced that it
generated revenue of EUR 44.7 million (FY 2015: EUR 53.5 million) and EBITDA
of EUR -2.7 million (FY 2015: EUR -0.3 million) in 2016. The digital
business accounted for EUR 28.5 million and the directory assistance
business for EUR 16.2 million in revenue.
"2016 saw the emergence of a new company," said Christian Maar, Chief
Executive Officer of 11880 Solutions AG. "We now have a completely new
product portfolio, a single consistent brand and a much more streamlined
personnel and cost structure. We tackled some long overdue issues in 2016
and completely realigned the company to make it competitive for the future."
11880 Solutions AG's new product portfolio has been well received, resulting
in a three percentage points decline in the contract termination rate for
the digital business and higher new customer growth than ever before.
WerkenntdenBesten.de, the first search engine for online reviews, is a smash
hit among small businesses and consumers. For the first time, every review
published online for a single service provider, tradesman or restaurant can
be found with one click on the same website. "Our company's positive
business performance is yet to be reflected in our financial results, as we
are still tackling some legacy issues. This will change at the end of the
current year," explained Christian Maar.
In light of the continued decline of the directory assistance business,
11880 Solutions AG expects revenue of between EUR 37.2 million and EUR 43.2
million in financial year 2017
The 2016 annual report of 11880 Solutions AG is available at:
https://ir.11880.com/english/reports
Contact:
Anja Meyer
11880 Solutions AG
Tel.: 089/ 8954-1188
Fax: 089/ 8954-1189
E-Mail: [email protected]
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23.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: 11880 Solutions AG
Fraunhofer Str. 12a
82152 Planegg-Martinsried
Germany
Phone: +49 089 - 89 54 0
Fax: +49 089 - 89 54 10 10
E-mail: [email protected]
Internet: www.11880.com
ISIN: DE0005118806
WKN: 511880
Indices: Prime All Share
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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557295 23.03.2017
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