Corporate | 4 August 2016 08:00
DGAP-News: 11 88 0 Solutions AG / Key word(s): Half Year Results
2016-08-04 / 08:00
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
* Cost of revenues and selling and distribution costs down
* EBITDA after investments slightly negative
* New strategy shows first signs of success
Essen / Munich, 4 August 2016 - 11 88 0 Solutions AG (formerly: telegate)
today announced EBITDA of EUR -1.3 million for the first half of 2016 as a
result of investments in the company's reorganisation and the development
of a new product portfolio (HY 2015: EUR 0.5 million). The directory
assistance business posted EBITDA of EUR -0.2 million (HY 2015: EUR 1.1
million) and the digital business posted EBITDA of EUR -1.1 million (HY
2015: EUR -0.6 million). 11 88 0 Solutions AG generated revenues of EUR
23.0 million in the first half of 2016 (HY 2015: EUR 27.4 million). The
digital business accounted for EUR 8.2 million (HY 2015: EUR 11.0 million)
and the directory assistance business for EUR 14.7 million (2015: EUR 16.4
million) in revenues.
Selling and distribution costs were down 27 percent year on year, from EUR
12.8 million to EUR 9.4 million. Cost of revenues also fell by four percent
from EUR 13.9 million in the first half of 2015 to EUR 13.3 million. The
company's new strategy is showing first signs of success as the first
vertical portals significantly reduced the customer churn rate and
increased customer acquisition.
"We invested heavily in the new 11 88 0 Solutions AG in the first half of
2016. As expected, these investments in a new strategy and new products are
reflected in the key financial figures," said Christian Maar, Chief
Executive Officer of 11 88 0 Solutions AG. "The listing service, the seven
verticals we have launched already and our new metasearch for reviews at
www.werkenntdenBesten.de are very popular with consumers and businesses
alike. While we are convinced that the new product portfolio will be a
success, we need to remain patient for a little while, before this success
generates visible results."
The full 2016 half-yearly report of 11 88 0 Solutions AG is available at:
http://www.telegate.com/investor-relations/english/reports.html
Contact:
Anja Meyer
11 88 0 Solutions AG
Tel.: 089/ 8954-1188
Fax: 089/ 8954-1189
E-Mail: anja.meyer@telegate.com
---------------------------------------------------------------------------
2016-08-04 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: 11 88 0 Solutions AG
Fraunhofer Str. 12a
82152 Planegg-Martinsried
Germany
Phone: +49 089 - 89 54 0
Fax: +49 089 - 89 54 10 10
E-mail: info@telegate.de
Internet: www.telegate.com
ISIN: DE0005118806
WKN: 511880
Indices: Prime All Share
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service