COLOGNE (dpa-AFX) - QSC AG (QSCGF.PK) said its earnings was largely consistent with expectations in the first quarter of 2019. Significantly higher Cloud and Consulting revenues were offset by lower TC and Outsourcing revenues. The company said its first-quarter performance is consistent with its full-year forecast.
For the first-quarter, net loss was 0.3 million euros compared to net income of 0.9 million euros, prior year. QSC noted that, excluding IFRS 16 items, it would have generated positive consolidated net income. EBITDA improved to 15.9 million euros from 9.2 million euros.
First-quarter revenues were 87.4 million euros, compared to 94.1 million euros, previous year. Cloud revenues were 10.6 million euros compared to 7.1 million euros, last year.
For 2019, QSC AG expects revenues of more than 350 million euros, EBITDA of more than 65 million euros, and free cash flow in at least a low single-digit million euro amount.
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