DGAP-News: 11880 Solutions AG publishes financial results for Q1 2018: First revenue growth in nine years

Essen, 8 May 2018 - 11880 Solutions AG today announced that for the first time in nine years it has started the new financial year with a slight increase in revenue. In the first quarter of 2018, the Company generated revenue of EUR 10.6 million (Q1 2017: EUR 10.4 million). Of this total, EUR 7.5 million was attributable to the Digital segment (Q1 2017: EUR 6.7 million) and EUR 3.1 million to the Directory Assistance business (Q1 2017: EUR 3.7 million). The number of corporate customers in the Digital business reached 27,300 by the end of March 2018, a year-on-year increase of more than 5,000.
 
Between January and March 2018, 11880 Solutions AG generated EBITDA of EUR 0.0 million, at the same level as in the previous year. Cash flow from operations amounted to EUR -0.9 million compared to EUR -0.3 million in the first quarter of 2017. This rise in cash outflow was due to one-off costs associated with restructuring and personnel measures totalling EUR 0.6 million implemented in the 2017 financial year.
 
"Our quarterly results once again show the positive performance of our business," said 11880 Chief Executive Officer Christian Maar. "For the first time since 2009, we have achieved revenue growth compared to the same period a year earlier. With our cash flow from operations no longer impacted by last year's restructuring costs in the next few quarters, we expect to significantly improve this figure."
 
11880 Solutions AG is currently developing an additional service that is scheduled to start this year. An integrated job portal will give 11880.com corporate customers the opportunity to publish vacancies online. The Company will also present its customers with suitable applicants searching for new jobs online. 11880 Solutions AG believes that this new offering will quickly become established in the market due to staff shortages in several sectors. 
 
 
The Q1 2018 interim management statement of 11880 Solutions AG is available at:
 
https://ir.11880.com/english/reports
 
 

Contact:
Anja Meyer
11880 Solutions AG
Tel.: 089/ 8954-1188
Fax: 089/ 8954-1189
E-Mail: anja.meyer@11880.com