DGAP-News: 11880 Solutions AG looks back at 2019: - Revenue up 11 percent to EUR 47.7 million - EBITDA rises to EUR 2.8 million - Highest digital customer growth in the Company's history - Revenue growth in Directory Assistance segment
DGAP-News: 11880 Solutions AG
/ Key word(s): Annual Results
11880 Solutions AG looks back at 2019: - Revenue up 11 percent to EUR 47.7 million - EBITDA rises to EUR 2.8 million - Highest digital customer growth in the Company's history - Revenue growth in Directory Assistance segment
26.03.2020 / 08:00
The issuer is solely responsible for the content of this announcement.
The Company generated revenue of EUR 34.6 million in the Digital segment (2018: EUR 30.3 million), thus exceeding the guidance of EUR 30.0 to 34.0 million issued at the start of the year.
In the Directory Assistance segment, the Company recorded moderate growth for the first time in ten years with revenue of EUR 13.0 million (2018: EUR 12.6 million). This positive performance was primarily attributable to rising customer figures in the call centre third-party business. 11880 Solutions AG successfully established this line of business three years ago to offset declining call volumes to the 11880* directory assistance service.
While the Company's financial results for 2019 provide impressive confirmation of its successful operating performance, there were also further improvements to its cost structure. The general administrative expenses of 11880 Solutions AG fell once again by 15.8 percent to EUR 8.0 million in 2019 (2018: EUR 9.5 million).
"2019 was a very successful year, even though we have by no means reached the end of our journey," says Christian Maar, CEO of 11880 Solutions AG. "Having completely revamped our product portfolio in both business segments in recent years, our aim now is to add as much value as possible to our products for the benefit of our customers. This includes the need to introduce a new Company-wide IT structure and the development of new intelligent SEO measures to help our customers market themselves online even more efficiently. In short, there is still plenty to do. After all, as well as achieving sustainable profitability, we also want to grow successfully."
11880 Solutions AG expects consolidated revenue between EUR 47.8 and EUR 51.0 million and EBITDA between EUR 1.7 and EUR 3.2 million for the current 2020 financial year.
The 2019 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
26.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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