Essen, 26 March 2020 11880 Solutions AG today announced that it grew its revenue by 11 percent to EUR 47.7 million in the 2019 financial year (2018: EUR 42.9 million). Consolidated EBITDA improved significantly to EUR 2.8 million (2018: EUR 1.0 million). The Company recorded its highest-ever customer growth in the Digital segment, with 7,368 small and medium-sized companies choosing a 11880.com online package. The business had 38,666 paying customers as of 31 December 2019.

The Company generated revenue of EUR 34.6 million in the Digital segment (2018: EUR 30.3 million), thus exceeding the guidance of EUR 30.0 to 34.0 million issued at the start of the year.

In the Directory Assistance segment, the Company recorded moderate growth for the first time in ten years with revenue of EUR 13.0 million (2018: EUR 12.6 million). This positive performance was primarily attributable to rising customer figures in the call centre third-party business. 11880 Solutions AG successfully established this line of business three years ago to offset declining call volumes to the 11880* directory assistance service.

While the Company's financial results for 2019 provide impressive confirmation of its successful operating performance, there were also further improvements to its cost structure. The general administrative expenses of 11880 Solutions AG fell once again by 15.8 percent to EUR 8.0 million in 2019 (2018: EUR 9.5 million).

"2019 was a very successful year, even though we have by no means reached the end of our journey," says Christian Maar, CEO of 11880 Solutions AG. "Having completely revamped our product portfolio in both business segments in recent years, our aim now is to add as much value as possible to our products for the benefit of our customers. This includes the need to introduce a new Company-wide IT structure and the development of new intelligent SEO measures to help our customers market themselves online even more efficiently. In short, there is still plenty to do. After all, as well as achieving sustainable profitability, we also want to grow successfully."

11880 Solutions AG expects consolidated revenue between EUR 47.8 and EUR 51.0 million and EBITDA between EUR 1.7 and EUR 3.2 million for the current 2020 financial year.

The 2019 Annual Report of 11880 Solutions AG is available at:

https://ir.11880.com/finanzberichte

Contact:
Anja Meyer
11880 Solutions AG
Tel.: 0201 / 8099-188
E-Mail: [email protected]