DGAP-News: 11880 Solutions AG confirms successful performance with key financial figures for 2018: revenue growth, positive EBITDA, strong growth in customer base

Essen, 10 April 2019 - 11880 Solutions AG today announced that it had a successful financial year 2018. The digital business in particular has seen an exceptionally positive performance: Revenue increased by 13 percent to EUR 30.3 million (2017: EUR 26.9 million), which was at the upper end of the annual guidance of EUR 29.1 to 30.3 million. Customer growth has also never been higher than in 2018: With a net gain of 6,000 customers, the total number of paying digital customers grew to more than 31,300 within one year.
 
In the Directory Assistance segment, the market-driven and expected decline in revenue of 13 percent was well below the usual market decline of around 20 percent thanks to the successful expansion of the call centre third-party business. This segment posted revenue of EUR 12.6 million in 2018 (2017: EUR 14.4 million).
 
For the first time in a decade, revenue has grown at Group level as well. In 2018, the Group generated EUR 42.9 million compared to EUR 41.3 million in financial year 2017, thus reaching the upper range of the guidance of EUR 39.8 to EUR 43.2 million issued at the start of 2018. On the back of further cost reductions and even higher process efficiency, EBITDA was positive again for the first time at EUR 1.0 million (2017: EUR -2.3 million).
 
"In the financial year ended, we proved that the turnaround course we embarked on in 2015 was the right one and is successful on a sustainable basis. We will once again significantly boost EBITDA in the current 2019 financial year. Our short-term goal is for 11880 Solutions AG to earn money again after many years and to generate a sustained positive cash flow," comments Christian Maar, CEO of 11880 Solutions AG. "We will continue to develop our intelligent product portfolio tailored to the needs of Germany's small and medium-sized enterprises in order to be able to respond optimally to our customers' requirements in the future as well."
 
11880 Solutions AG expects revenue between EUR 40.3 and EUR 47.0 million and EBITDA between EUR 2.0 and EUR 4.0 million for the current 2019 financial year.
 
The 2018 Annual Report of 11880 Solutions AG is available at:
https://ir.11880.com/finanzberichte
 
Contact:
Anja Meyer
11880 Solutions AG
Tel.: 0201 / 8099-188
E-Mail: anja.meyer@11880.com