Corporate | 7 November 2011 07:30
|
QSC AG / Key word(s): Quarter Results
QSC sustains profitable growth in third quarter of 2011 – Revenues up 21 percent to EUR 128.3 million – EBIT improves by 23 percent to EUR 8.0 million – Growth stems from consolidation of two new subsidiaries as well as positive new customer development – QSC now anticipates free cash flow of EUR 40 to EUR 45 million for full 2011 fiscal year Cologne, November 7, 2011. Cologne-based QSC AG sustained its profitable growth in the third quarter of 2011; revenues advanced to EUR 128.3 million, compared to EUR 105.6 million for the same quarter one year earlier. A major share of this development was attributable to the consolidation of the company’s two new subsidiaries, IT Outsourcing and IT Consulting provider INFO AG as well as Housing and Hosting specialist IP Partner. Moreover, the QSC Group succeeded in winning new small and mid-size customers, especially in ICT solutions business. These successes enabled the company to significantly increase the share of IP-based revenues in the third quarter to 80 percent, compared to 69 percent for the same quarter the year before; the company generated only 20 percent of its revenues in the conventional lines of business of a TC provider, such as Call by Call and reselling DSL lines. Profitability up sharply The strong rise in IP-based revenues and new multi-year contracts necessitated the recruitment of additional IT specialists in the third quarter of 2011. The workforce at INFO AG, alone, rose by 26 people to 638; further recruitment is planned for the coming quarters. Nevertheless, QSC was able to grow its EBITDA moderately to EUR 20.8 million, in contrast to EUR 20.3 million for the same quarter last year. During the past quarter, EBIT rose from EUR 6.5 million to EUR 8.0 million, while consolidated net income increased to EUR 6.4 million, in contrast to EUR 5.8 million in the third quarter of 2010. A comparison of the nine-month numbers also demonstrates the strong profitability of the QSC Group. While revenues have thus far risen by 12 percent to EUR 355.2 million in the current fiscal year, EBIT has improved by 44 percent to EUR 22.5 million. Consolidated net income rose by 27 percent to EUR 16.8 million, representing earnings per share of EUR 0.12. The public tender offer for INFO AG shares ended during the past quarter; overall, QSC now holds 91.90 percent of INFO shares. QSC financed both this acquisition as well as the acquisition of IP Partner, along with necessary capital expenses, predominantly from its own resources. QSC’s financial strength can be seen, in particular, in its sustained positive free cash flow, which stood at EUR 6.1 million in the third quarter of 2011. QSC now anticipates free cash flow of EUR 40 to EUR 45 million In view of the positive development during the first nine months of the fiscal year, QSC is raising the lower limit of its free cash flow forecast for the current fiscal year: The company now anticipates a free cash flow of between EUR 40 and EUR 45 million, instead of the previous forecast of between EUR 35 and EUR 45 million. QSC continues to plan to distribute its first dividend for the current fiscal year. QSC Chief Executive Officer, Dr. Bernd Schlobohm, notes: ‘The acquisitions of INFO AG and IP Partner are beginning to pay off. This can be seen not only in our good quarterly numbers, but also in our successes in the market. We are winning more and more orders by working together, enabling us to noticeably grow our new order volume. We will be driving this collaboration in the coming quarters, so that we can convince more and more small and mid-size enterprises of the advantages of one-stop shopping for comprehensive ICT services.’
Queries to:
Notes:
End of Corporate News 07.11.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | QSC AG | |
| Mathias-Brüggen-Straße 55 | ||
| 50829 Köln | ||
| Germany | ||
| Phone: | +49-221-6698-724 | |
| Fax: | +49-221-6698-009 | |
| E-mail: | invest@qsc.de | |
| Internet: | www.qsc.de | |
| ISIN: | DE0005137004 | |
| WKN: | 513700 | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart | |
| End of News | DGAP News-Service |
|
|
| 144880 07.11.2011 |