DGAP-News
QSC confirms preliminary figures for the third quarter of 2014
DGAP-News: QSC AG / Key word(s): Quarter Results
QSC confirms preliminary figures for the third quarter of 2014
10.11.2014 / 07:30
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QSC confirms preliminary figures for the third quarter of 2014
- Revenues reach EUR 106.6 million
- EBITDA totals EUR 8.8 million
- Free cash flow stands at EUR 3.7 million
Cologne, November 10, 2014. QSC's quarterly report published today does not
contain any changes compared to the preliminary figures reported on October
16, 2014. Revenues totaled EUR 106.6 million following EUR 113.8 million
for the same quarter the year before: Because of a noticeable downturn in
the economy neither business with new ICT products nor IT Consulting and IT
Outsourcing picked up discernibly following the summer vacation.
Since revenues in high-margin lines of business, in particular, remained
below expectations and since QSC, from the current fiscal year on, will no
longer benefit from the return of a deferred income line item in the amount
of EUR 5.2 million per quarter, EBITDA of EUR 8.8 million in the third
quarter of 2014 was down from the previous year's level of EUR 19.4
million. Consolidated net income was EUR -6.2 million following EUR 4.7
million for the same quarter the year before. Free cash flow stood at EUR
3.7 million, compared to EUR 6.5 million in the third quarter of 2013.
Dividend of at least 10 cents per share planned
In view of the final figures for the third quarter of 2014, QSC confirms
the adjusted guidance for the 2014 fiscal year, which was presented on
October 16, 2014. As expected, the company anticipates revenues of at least
EUR 430 million, an EBITDA of at least EUR 40 million, and - taking into
consideration a one-off negative working capital effect of some EUR 18
million - a free cash flow of not more than EUR -12 million. The company
still intends to pay a dividend of at least 10 cents per share for the 2014
fiscal year.
QSC started to specifically strengthen its sales operations as early as the
summer of 2014; as a result, order bookings of EUR 55.3 million were
recorded in the third quarter of 2014 - the highest level in the past two
years. The company has also been pushing the sale of new ICT products since
autumn 2014, with an entire package of measures, including the development
of an independent sales unit for the new products, a telesales team to
directly address smaller and mid-sized businesses, and an onboarding team
for the active transition of customers into the cloud age.
- Revenues reach EUR 106.6 million
- EBITDA totals EUR 8.8 million
- Free cash flow stands at EUR 3.7 million
Cologne, November 10, 2014. QSC's quarterly report published today does not
contain any changes compared to the preliminary figures reported on October
16, 2014. Revenues totaled EUR 106.6 million following EUR 113.8 million
for the same quarter the year before: Because of a noticeable downturn in
the economy neither business with new ICT products nor IT Consulting and IT
Outsourcing picked up discernibly following the summer vacation.
Since revenues in high-margin lines of business, in particular, remained
below expectations and since QSC, from the current fiscal year on, will no
longer benefit from the return of a deferred income line item in the amount
of EUR 5.2 million per quarter, EBITDA of EUR 8.8 million in the third
quarter of 2014 was down from the previous year's level of EUR 19.4
million. Consolidated net income was EUR -6.2 million following EUR 4.7
million for the same quarter the year before. Free cash flow stood at EUR
3.7 million, compared to EUR 6.5 million in the third quarter of 2013.
Dividend of at least 10 cents per share planned
In view of the final figures for the third quarter of 2014, QSC confirms
the adjusted guidance for the 2014 fiscal year, which was presented on
October 16, 2014. As expected, the company anticipates revenues of at least
EUR 430 million, an EBITDA of at least EUR 40 million, and - taking into
consideration a one-off negative working capital effect of some EUR 18
million - a free cash flow of not more than EUR -12 million. The company
still intends to pay a dividend of at least 10 cents per share for the 2014
fiscal year.
QSC started to specifically strengthen its sales operations as early as the
summer of 2014; as a result, order bookings of EUR 55.3 million were
recorded in the third quarter of 2014 - the highest level in the past two
years. The company has also been pushing the sale of new ICT products since
autumn 2014, with an entire package of measures, including the development
of an independent sales unit for the new products, a telesales team to
directly address smaller and mid-sized businesses, and an onboarding team
for the active transition of customers into the cloud age.
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