Banking

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 companys 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 years 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 years 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.

For the current financial year, the company has budgeted revenues of between  174 million and  178 million, EBITDA of between  6 million and  8 million, and free cash flow of up to  -10 million. Like in the previous year, it expects a strong fourth quarter. Alongside growth in the organic business, revenues will also benefit for the first time from the majority stake recently acquired in productive-data. This Hamburg-based data analytics specialist focuses on introducing, enhancing and operating data warehousing solutions in sectors including retail. It will further raise the value created within q.beyonds cloud business.

Key figures at a glance

million Q3 2022 Q3 2021
Revenues 43.1 40.0
– Cloud & IoT 35.3 30.0
– SAP 7.9 10.0
EBITDA 1.7 1.6 (+29.4*)
Consolidated net income (2.8) 20.7
Free cash flow (1.7) 3.6
Equity ratio at 30 September 76% 75%
Employees at 30 September 1,127 1,037

* Including impact of colocation sale.

 

Notes:
This Corporate News contains forward-looking statements that are based on current expectations and forecasts on the part of the management with regard to future events. Due to risks or erroneous assumptions, actual results may deviate materially from these forward-looking statements. The complete Quarterly Statement is available at www.qbeyond.de/en/investor-relations.

 

About q.beyond AG:
q.beyond AG is the key to successful digitalisation. We help our customers find the best digital solutions for their business and then put them into practice. Our strong team of 1,100 people accompanies SME customers securely and reliably throughout their digital journey. We are experts in Cloud, SAP and SaaS. With nationwide locations and its own certified data centres, q.beyond is one of Germanys leading IT service providers.

 

Contact:
q.beyond AG
Arne Thull
Head of Investor Relations/Mergers & Acquisitions
T +49 221 669 8724
[email protected]
www.qbeyond.de

 

07.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Share this news on your Fb,Twitter and Whatsapp

File source

Times News Express – Breaking News Updates – Latest News Headlines
Times News Express||USA NEWS||WORLD NEWS||CELEBRITY NEWS||POLITICS||TOP STORIES

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close