EQS-News

ecotel makes strong start to 2024 financial year - Seite 2

The operating result (EBIT) amounted to EUR 0.4 million in the first quarter. This represents a significant year-on-year decrease of EUR 5.6 million. After deducting all associated transaction costs, the sale of right-of-use assets for online resources in the first quarter of the previous year contributed around EUR 5.4 million to EBIT. Adjusted for these non-recurring effects, EBIT in the first quarter of 2024 was in line with the previous year.

After deducting depreciation and amortisation, which declined slightly as forecast to EUR 1.1 million (previous year: EUR 1.3 million), and taking account of net finance costs of EUR 0.0 million (previous year: EUR 0.4 million) and taxes of EUR 0.1 million (previous year: EUR -2.0 million), ecotel generated a net profit of EUR 0.3 million in the first quarter (previous year: EUR 4.5 million). This corresponds to earnings per share of EUR 0.08 (previous year: EUR 1.29).

As the year continues, the recently communicated strategic change and expansion of the Management Board will provide further support for the company’s growth path with its focus on cloud communication and smart broadband solutions for corporate customers (cloud & fibre).

The Management Board is maintaining its forecast for the 2024 financial year.
Specifically, the Management Board anticipates the following developments in 2024:
 

(EUR million)	Forecast for 2024
Consolidated sales	108 – 112
thereof ecotel Business Customers	48 – 52
thereof ecotel Wholesale	50 – 60
Gross profit	33 – 35
thereof ecotel Business Customers	31 – 33
thereof ecotel Wholesale	2 – 3
Operating EBITDA	9 – 10
thereof ecotel Business Customers	8 – 9
thereof ecotel Wholesale	~ 1
Consolidated net profit	> 2