17.11.2016
11880 Solutions AG DE0005118806
DGAP-News: 11880 Solutions AG publishes nine-month figures: Financial results do not yet reflect current business performance
DGAP-News: 11880 Solutions AG / Key word(s): Quarterly / Interim
Statement/9-month figures
11880 Solutions AG publishes nine-month figures: Financial results do not
yet reflect current business performance
17.11.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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Essen / Munich, 17 November 2016 - 11880 Solutions AG today published its
nine-month results. "As expected, the figures do not yet reflect the actual
performance of our company," said Christian Maar, Chief Executive Officer
of 11880 Solutions AG. "As a matter of fact, we have been adding more new
customers than ever before since launching our specialist portals. And
although contract terms are highly flexible, the termination rate has never
been lower. These successes will not be reflected in our key financials
until the second half of 2017."
From January to September 2016, 11880 Solutions AG generated revenues of
EUR 33.95 million (9M 2015: EUR 40.78 million). The drop in revenues is
primarily due to the declining directory assistance market and the
reduction of loss-making field sales capacity. EBITDA amounted to EUR -1.30
million (9M 2015: EUR 0.14 million) and was depressed mainly by capital
expenditure for restructuring the company. Administrative expenses (9M
2016: EUR 8.45 million vs. 9M 2015: EUR 8.96 million), selling and
distribution costs (9M 2016: EUR 13.54 million vs. 9M 2015: EUR 18.68
million) and cost of revenues (9M 2016: EUR 19.68 million vs. 9M 2015: EUR
20.86 million) were all reduced compared with the prior-year period.
In addition to the 15 specialist portals covering major trade and service
sectors, 11880 Solutions AG this year also launched WerkenntdenBesten.de,
the largest metasearch site for online reviews, which has enjoyed very good
feedback from 11880.com business customers. The site has already attracted
around 2,000 new customers in the first four months after its launch.
werkenntdenBesten.de has also quickly established itself with consumers:
traffic is doubling each month, with the number of reviews shown on the
site already reaching almost 20 million. Furthermore, the listing service
that was launched in the third quarter of 2015 and guarantees small
businesses a listing of current contact information in more than 30 popular
search engines and portals already has more than 7,000 customers.
Christian Maar: "We are positioned very well in terms of products. Now, our
task is to increase productivity. As announced, in the next quarters we
will therefore focus even more on reducing costs and adjust our
organization to the new product and sales structure."
The full 2016 nine-month report of 11880 Solutions AG is available at:
https://ir.11880.com/finanzberichte
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17.11.2016 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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