COLOGNE (dpa-AFX) - German Cloud and ICT provider QSC AG (QSCGF) reported that its revenues were 34.1 million euros in the first quarter of 2020, compared to 33.1 million euros in the fourth quarter of 2019.
The company reported first-quarter consolidated net loss of 5.5 million euros, and EBIT of negative 5.3 million euros.
Looking ahead, QSC said it will generate sustainably positive EBITDA once again from the fourth quarter of 2020 and a sustainably positive free cash flow from the fourth quarter of 2021.
For the current financial year, QSC still expects its revenues to rise by at least 13% to more than 143 million euros. The company still expects EBITDA of up to negative 5 million euros and a free cash flow of up to negative 16 million euros.
Copyright RTT News/dpa-AFX