EQS-Ad-hoc: 11880 Solutions AG / Key word(s): Change in Forecast Essen, 03 November 2022 - 11880 Solutions AG, Essen, (WKN 511880), announces its preliminary Q3 results and adjusts its full-year forecast for 2022. In particular, unexpected bad debt losses due to looming insolvencies and an increased reluctance to buy on the part of corporate customers, higher third-party service costs as well as a mandatory price announcement for directory enquiries led to a weaker expected positive business development in Q3 2022. The original EBITDA forecast of 3.3 to 4.3 million euros is being adjusted to 1.5 to 2.5 million euros. The revenue forecast of 54.8 to 60.6 million euros issued at the beginning of the year is narrowed down to 54.0 to 56.5 million euros. The original cash forecast of 1.5 to 2.4 million euros will also be adjusted to 1.0 to 1.8 million euros after Q3 2022. Based on the preliminary results, the company generated revenue of 41.2 million euros and EBITDA of 1.7 million euros in the first nine months of the 2022 financial year. 11880 Solutions AG will continue to successfully develop its business with an efficient growth strategy, new products, and further cost reductions in the 2023 financial year. Contact: Anja Meyer 11880 Solutions AG Tel.: 0201 / 8099-188 E-Mail: anja.meyer@11880.com
03-Nov-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | 11880 Solutions AG |
Hohenzollernstraße 24 | |
45128 Essen | |
Germany | |
Phone: | 0201-80990 |
E-mail: | info@11880.com |
Internet: | www.11880.com |
ISIN: | DE0005118806, DE0005118806, , |
WKN: | 511880, 511880 |
Indices: | Prime All Share |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1479051 |
End of Announcement | EQS News Service |
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1479051 03-Nov-2022 CET/CEST
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