Corporate | 11 May 2015 07:30
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QSC AG / Key word(s): Quarter Results
QSC posts good start to 2015 and confirms forecast
Cologne, 11 May 2015. QSC AG began 2015 on a successful note with its core topics. The signing of a contract with Vodafone Deutschland in March of this year has boosted QSC’s positioning as a cloud provider. Via its FTAPI subsidiary, the Company will in future be providing Vodafone corporate customers with a secure e-mail encryption product. Another core topic, the process of focusing on medium-sized corporate customers in the Outsourcing business, has also started well. Here, the Company has signed a contract worth EUR 40 million with the Hessian energy supplier Süwag. QSC has also initiated sustainable cost-cutting measures, focusing in particular on staff cuts. Termination of employment has already been agreed with an initial total of around 100 employees. First-quarter revenues amounted to EUR 104.7 million (previous year: EUR 109.1 million). Of this total, EUR 56.8 million (55%) was attributable to the Telecommunications business unit, EUR 36.8 million (35%) to Outsourcing, EUR 9.8 million (9%) to Consulting and EUR 1.3 million (1%) to the Cloud business. The Telecommunications business remained relatively stable compared with the two preceding quarters. Outsourcing revenues decreased compared with the previous quarter. The major order received from Süwag will only generate notable revenues from 2016 onwards. The Consulting business was clearly positive and witnessed strong overall demand. With the Vodafone order, the Cloud business has also laid a strong foundation for future revenues. Consistent with expectations, the EBITDA of EUR 9.1 million for the first quarter of 2015 fell short of the previous year’s figure of EUR 13.4 million. In terms of operating earnings (EBIT), the figure of EUR -3.0 million posted by QSC marks an improvement on the two preceding quarters. In general, the Company can point to an initial improvement in its key financials compared with the preceding quarters, even though the cost-cutting measures introduced, and here the job cuts in particular, will only produce tangible results in the second half of the year. Comments Jürgen Hermann, CEO of QSC: “Stabilising our core business is just as important as expanding our cloud products. This market is set to show rapid growth in the years ahead and QSC has clear competitive advantages.”
Following the good start to 2015, QSC can confirm its full-year forecast for 2015 presented at the end of February. The Company continues to expect to generate revenues of more than EUR 400 million, EBITDA of more than EUR 40 million and positive free cash flow.
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| 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 | |
| Indices: | TecDAX | |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart | |
| End of News | DGAP News-Service |
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| 355393 2015-05-11 |