06.08.2018
QSC AG DE0005137004
DGAP-News: QSC increases revenues by 6% in first half of 2018
DGAP-News: QSC AG / Key word(s): Half Year Results
QSC increases revenues by 6% in first half of 2018
06.08.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
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QSC increases revenues by 6% in first half of 2018
- Revenues rise to EUR 186.2 million in first six months of 2018
- Cloud revenues up 36% to EUR 15.6 million
- Further double-digit growth in TC business
- Key earnings and financial figures develop as planned; consolidated net
income up 18%
- QSC now expects revenues at least at upper end of EUR 345 million to EUR
355 million range
Cologne, 6 August 2018. The Cloud and ICT provider QSC increased its
first-half revenues to EUR 186.2 million, up from EUR 175.9 million in the
previous year's period, and now expects its full-year revenues for 2018 at
least to reach the upper end of the EUR 345 million to EUR 355 million range
communicated in March 2018.
Growing demand for cloud services and IoT solutions
The growth generated in the first half of 2018 was driven by the Cloud and
Telecommunications (TC) segments. In its Cloud business, QSC managed to
increase its revenues by 36% to EUR 15.6 million in the period under report.
This growth was due to success in both areas of activity - cloud services
and Internet of Things (IoT). In the first half of 2018, the TC business
benefited above all from higher demand in the international voice
termination business: TC revenues rose by 14% to EUR 103.8 million. The two
other segments - Consulting and Outsourcing - largely performed in line with
expectations.
EBITDA came to EUR 18.2 million in the first half of 2018, as against EUR
20.2 million in the previous year's period. Operating earnings (EBIT) for
the same period rose from EUR 4.4 million to EUR 4.6 million. Consolidated
net income improved to EUR 1.3 million in the first half of 2018, up from
EUR 1.1 million one year earlier. Free cash flow totalled EUR 2.8 million at
the end of the first six months, compared with EUR 6.4 million in the
previous year's period. The Company's key earnings and financial figures
therefore developed in line with expectations in the first half of 2018. For
the financial year as whole, QSC therefore still plans to generate EBITDA of
between EUR 35 million and EUR 40 million and free cash flow of more than
EUR 10 million.
QSC benefits from new vertical organisational structure
CEO Jürgen Hermann is satisfied with the business performance in the first
half of 2018: "Our operating business is already benefiting from
implementation of the new vertical organisational structure." At the
beginning of 2018, QSC assigned responsibility for sales and technology to
its business units and thus significantly boosted their autonomy. With
regard to the second half of 2018, Hermann added: "We now expect the
spin-off of our TC business into a standalone subsidiary to provide added
momentum." This move was approved by the Annual General Meeting in July
2018. In future, QSC will be pooling its TC business at its wholly-owned
subsidiary Plusnet GmbH.
EUR million Q2 2018 Q2 2017 H1 2018 H1 2017
Revenues 92.1 87.2 186.2 175.9
Cloud revenues 8.4 6.3 15.6 11.5
Consulting revenues 9.4 10.0 19.2 20.7
Outsourcing revenues 23.9 26.3 47.6 53.0
Telecommunications revenues 50.4 44.5 103.8 90.7
EBITDA 9.0 9.7 18.2 20.2
EBIT 2.3 1.7 4.6 4.4
Consolidated net income 0.5 0.5 1.3 1.1
Free cash flow 3.6 2.8 2.8 6.4
Capital expenditure 5.0 5.6 7.9 9.8
Employees as of 30 June 1,305 1,371 - -
Notes:
The complete Half-Year Report can be downloaded at
www.qsc.de/en/qsc-ag/investor-relations.html. This Corporate News contains
forward-looking statements that are based on current expectations and
forecasts on the part of the management of QSC AG with regard to future
events. Due to risks or erroneous assumptions, actual events may deviate
materially from these forward-looking statements.
Contact for enquiries:
QSC AG
Arne Thull
Head of Investor Relations
T +49 221 669-8724
F +49 221 669-8009
[email protected]
www.qsc.de
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06.08.2018 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.
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Language: English
Company: QSC AG
Mathias-Brüggen-Straße 55
50829 Cologne
Germany
Phone: +49-221-6698 117
Fax: +49-221-669-8009
E-mail: [email protected]
Internet: www.qsc.de
ISIN: DE0005137004
WKN: 513700
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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710895 06.08.2018
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