EQS-News

123fahrschule SE publishes annual report 2023

EQS-News: 123fahrschule SE / Key word(s): Annual Report/Annual Results 123fahrschule SE publishes annual report 2023    29.02.2024 / 14:29 CET/CEST The issuer is solely responsible for the content of this announcement. 123fahrschule increases turnover by 23.7 % compared to the previous year to EUR 20,613 thousand

123fahrschule SE publishes annual report 2023   

 

Cologne, February 29, 2023 - 123fahrschule SE (ISIN: DE000A2P4HL9; ticker symbol: 123F; primary market Düsseldorf Stock Exchange), a digitally driven driving school chain in Germany with a focus on e-learning, today published its annual report for the 2023 financial year.  

The Group succeeded in significantly improving revenue and earnings in the 2023 financial year. The 123fahrschule increased its turnover by 23.7% year-over-year to EUR 20,613 thousand. EBITDA (earnings before interest, taxes, depreciation and amortization) improved significantly by 66.8% year-over-year to EUR -887 thousand.

The Management Board of 123fahrschule SE looks back on a challenging but generally successful 2023. The implementation of the optimization measures adopted in December 2022 was completed in the course of the year and, in addition to a clear increase in efficiency in the operating business, ensured a significant improvement in EBITDA for the 2023 financial year. The restructuring of the holding company and the reallocation of management tasks made a significant contribution to this. In addition, the business segment professional driver training & education provider ("Bildungsträger") was significantly expanded and thus contributed significantly to revenue growth. As a result, 123fahrschule was able to achieve a significantly improved result in 2023 despite difficult economic conditions. In particular, the measures taken enabled EBITDA to increase significantly faster than revenue compared to the market. Overall, the 2023 financial year should nevertheless be regarded as a transition year and the full-year effect of the measures will have a positive impact on earnings in 2024.