DGAP-News

11880 Solutions AG optimistic after the end of the first quarter of 2017: EBITDA at break-even - costs reduced considerably - significant customer growth

DGAP-News: 11880 Solutions AG / Key word(s): Quarter Results 11880 Solutions AG optimistic after the end of the first quarter of 2017: EBITDA at break-even - costs reduced considerably - significant customer growth 10.05.2017 / 08:00 The issuer is solely responsible for the content of this announcement.

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Munich / Essen, 10 May 2017 - 11880 Solutions AG today announced that it reached break-even EBITDA of EUR 0.0 million in the first quarter of 2017 (Q1 2016: EUR -0.2 million). Costs were significantly reduced compared to the previous year: net cash flow was EUR -0.9 million in the first quarter of 2017 (Q1 2016: EUR -1.8 million), primarily driven by one-off severance costs of EUR 0.7 million arising from the latest personnel measures. The Company has reported a clear upward trend since the start of the current financial year for the first time since 2011, with the number of customers in the digital business rising by four percent in the past three months alone.

 

"We are finally on the right track and aim to report a profit no later than 2019," said Christian Maar, Chief Executive Officer of 11880 Solutions AG. "We have succeeded in stopping the loss of customers of the past five years and reversing this trend. We are currently experiencing significant customer growth and are extremely satisfied with the development of all of our key sales figures. In the past 18 months, we have created a competitive product portfolio that is causing the number of new customers to steadily increase as terminations continue to decline. Interest in our products is so significant that we have recruited external resources to support our sales efforts. At the same time, we are continuing to adjust our administrative organisation and are lowering costs again this year."

 

11880 Solutions AG posted revenue of EUR 10.4 million in the first three months of the current financial year (Q1 2016: EUR 11.8 million). Of this amount, the directory assistance business accounted for EUR 3.7 million (Q1 2016: EUR 4.1 million) and the digital business for EUR 6.7 million (Q1 2016: EUR 7.6 million).

 

During the current financial year, 11880 Solutions AG is focusing its operational efforts on its new sector portals and the WerkenntdenBesten.de search engine. The specialist portals for the most important trades and service sectors are becoming increasingly popular among consumers, as they enable anyone to obtain a non-binding yet detailed quote for their individual job in just a few clicks. By creating WerkenntdenBesten.de, the first independent search engine for online reviews, 11880* has developed a platform that offers unparalleled value for both consumers and companies. The site gathers all of the customer reviews published online for a service provider, doctor, tradesman or fitness studio in one place.