DGAP-News q.beyond posts further record new orders and continues to grow
DGAP-News: q.beyond AG / Key word(s): Quarter Results/Quarterly / Interim Statement
q.beyond posts further record new orders and continues to grow
- New orders rise to € 52.3 million in third quarter of 2020
- Revenues of € 35.1 million mark fifth consecutive quarter of growth
- As planned, EBITDA of € -0.6 million approaches break-even; sustainably positive EBITDA from Q4 2020
- q.beyond expects strong final quarter and confirms forecast for 2020
Cologne, 9 November 2020 - q.beyond AG, which resulted from the rebranding of QSC AG in mid-September, increased its revenues for the fifth consecutive quarter in the third quarter of 2020, in this case to € 35.1 million. Despite the severest recession in post-war German history, the IT service provider generated year-on-year growth of 9%. Digitalisation, whose importance to and acceptance by SMEs is now undisputed, has received a further boost due to the coronavirus crisis. This is documented by q.beyond's new orders, the core indicator of its medium-term growth. In the third quarter of 2020, this key figure reached a new record of € 52.3 million, equivalent to an increase of 45% on the previous quarter. Around 70% of these orders were received from new customers, particularly in q.beyond's sector focuses of retail and manufacturing.
Cloud & IoT business posts double-digit growth
The Covid-19 crisis has created particularly strong demand for cloud solutions, with a key focus on the implementation and operation of digital workplaces. Revenues in q.beyond's Cloud & IoT segment therefore grew year-on-year by 11% to € 25.1 million in the third quarter of 2020. Revenues in the SAP segment rose over the same period by 4% to € 10.0 million. Coronavirus-related restrictions on contact held back the consulting business on location at customers. However, the broad-based positioning of this segment paid off, with SAP operations and application management hardly affected by the lockdown.