22.03.2018
11880 Solutions AG DE0005118806
DGAP-News: 11880 Solutions AG successfully continued restructuring in 2017 financial year: EBITDA improved, costs reduced further, 5,000 new customers acquired
DGAP-News: 11880 Solutions AG / Key word(s): Final Results
11880 Solutions AG successfully continued restructuring in 2017 financial
year: EBITDA improved, costs reduced further, 5,000 new customers acquired
22.03.2018 / 08:00
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Essen, 22 March 2018 - 11880 Solutions AG successfully continued its
essential restructuring process during the 2017 financial year and remains
on course for growth, after improving EBITDA and reducing costs once again.
In the Digital business, the Company acquired approximately 5,000 net new
customers for the first time in its history.
11880 Solutions AG generated EBITDA of EUR -2.3 million in 2017 (2016: EUR
-2.7 million), with revenue totaling EUR 41.3 million (2016: EUR 44.7
million). Of this figure, EUR 26.9 million (2016: EUR 28.5 million) was
attributable to the Digital business and EUR 14.4 million (2016: EUR 16.2
million) to Directory Assistance. Although deferred revenue means that the
high number of new customers acquired is not yet reflected in the revenue
figure for 2017, this will have a noticeable effect in 2018. Earnings were
primarily impacted by non-recurring restructuring costs arising from events
such as the site closure in Munich and personnel measures at all sites.
Selling and distribution costs were reduced by 16 percent to EUR 14.9
million in the 2017 financial year (2016: EUR 17.8 million), while
administrative expenses were down 13 percent on the previous year to EUR 9.8
million (2016: EUR 11.3 million).
"The restructuring of our company is largely complete and will only impact
our cash flow in the first few months of the current year," said CEO
Christian Maar. "We are now turning our attention back to growth. The new
product portfolio has been very well received by small and medium-sized
companies and will be expanded further to include several promising features
this year. Our aim is to end the current financial year with EBITDA at
break-even or higher."
11880 Solutions AG expects revenue of between EUR 39.8 and 43.2 million and
EBITDA between EUR 0.4 and 2.4 million for the 2018 financial year. With
more than 1,500 new customers already added in the Digital business since
the beginning of the year, the Company has a good chance of achieving its
ambitious target.
The 2017 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]
---------------------------------------------------------------------------
22.03.2018 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
---------------------------------------------------------------------------
Language: English
Company: 11880 Solutions AG
Kruppstraße 74
45145 Essen
Germany
Phone: 0395 - 560 99 - 0
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
---------------------------------------------------------------------------
667231 22.03.2018
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
11880 Solutions AG ISIN: DE0005118806 können Sie bei EQS abrufen
Telekomdienstleistungen , 511880 , TGT , XETR:TGT