EQS-News

NFON AG further advances its reorganisation in Q1 2024 and increases revenue and profitability as planned

EQS-News: NFON AG / Key word(s): Quarterly / Interim Statement NFON AG further advances its reorganisation in Q1 2024 and increases revenue and profitability as planned 23.05.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. NFON AG further advances its reorganisation in Q1 2024 and increases revenue and profitability as planned

• Recurring revenue up 2.8% at EUR 19.9 million in first quarter of 2024
• Share of recurring revenue increases to 93.6% of total revenue
• Significantly improved adjusted EBITDA of EUR 2.8 million results in adjusted EBITDA margin of 13.2% in relation to revenue
• Further milestones achieved in creating solid foundations for sustained profitable growth

Munich, 23 May 2024 – NFON, a leading European provider of integrated cloud business communications, recorded positive business performance overall in the first quarter of 2024 and reached key strategic milestones.

In addition to successful customer acquisition, the growth achieved in the first quarter of 2024 was also attributable to the fact that the number of seats installed with customers increased by 2.0% year-on-year to 658,544 in the first quarter of 2024 (3M 2023: 645,582). Revenue growth was also boosted by cross-selling activities with the expanded product portfolio (premium solutions). Recurring revenue, a key figure for NFON, therefore grew by 2.8% to EUR 19.9 million (3M 2023: EUR 19.3 million). Total revenue saw an increase of 2.2% to EUR 21.2 million (3M 2023: EUR 20.8 million). As a result, the share of high-margin recurring revenue rose to 93.6% of total revenue in the first quarter of 2024 (3M 2023: 93.1%). Seat growth is stable and in line with our planning for the following quarters in 2024, with price indexation leading to additional sales from April 2024. The high share of recurring revenue is driven by the high level of satisfaction among NFON’s customers and forms a solid foundation for the future. With the focus on profitability, earnings performance also improved in the first quarter of 2024. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) increased to EUR 2.8 million in the first three months of 2024, after EUR 2.0 million in the same period of the previous year. Before adjustments, EBITDA for the reporting period amounted to EUR 2.7 million (3M 2023: EUR 1.9 million).