EQS-News

q.beyond confirms preliminary results: revenues grow by 8% in Q3 2022

EQS-News: q.beyond AG / Key word(s): Quarter Results/Quarterly / Interim Statement q.beyond confirms preliminary results: revenues grow by 8% in Q3 2022 07.11.2022 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. q.beyond confirms preliminary results: revenues grow by 8% in Q3 2022 Cologne, 7 November 2022. As reported on 26 October, in a quarter marked by great economic uncertainty q.beyond increased its revenues by a further 8% to € 43.1 million. The IT service provider benefited here from its business model, large parts of which are crisis resistant. Of total revenues in the third quarter of 2022, 78% were recurring, while 60% were generated in the company’s three focus sectors of retail, logistics and manufacturing.

SAP business set to return to profitable growth course

q.beyond has a strong market position, particularly in its cloud business, and is continually extending its head start. In recent quarters, the company has, among other moves, extended its hybrid cloud expertise and to this end established a proprietary Cloud Competence Center with around 150 experts. Due not least to this, revenues in the “Cloud & IoT” segment grew year-on-year by 18% to € 35.3 million in the past quarter. Following realignment, the second segment, “SAP”, will also return to a course of profitable growth in the coming year. In the third quarter of 2022, revenues here amounted to € 7.9 million compared with € 10.0 million in the previous year’s period.

Net liquidity of € 42.5 million

Based on revenues of € 43.1 million, EBITDA came to € 1.7 million in the third quarter of 2022 while the free cash flow stood at € -1.7 million. The previous year’s figures of € 29.4 million for EBITDA and of € 3.6 million for the free cash flow were significantly influenced by the successful sale of the colocation business in that quarter. With net liquidity of € 42.5 million and virtually no debt, the company is also very well financed for a more prolonged economic downturn.