COLOGNE (dpa-AFX) - q.beyond AG (QSCGF.PK) reported a third quarter consolidated net loss of 5.0 million euros compared to a loss of 2.6 million euros, previous year. EBITDA was negative at 0.6 million euros compared to a negative EBITDA of 2.2 million euros.
Third quarter revenues increased to 35.1 million euros from 32.3 million euros, prior year. Cloud & IoT revenue increased to 25.1 million euros from 22.7 million euros. New orders were 52.3 million euros in third quarter of 2020. The Group noted that around 70% of these orders were received from new customers.
For 2020, q.beyond still expects revenues to grow by at least 13% to more than 143 million euros. The company still expects a negative EBITDA of up to 5 million euros in the current year.
'As planned and previously communicated, q.beyond expects to generate sustainably positive EBITDA from the fourth quarter of 2020, and sustainably positive free cash flow from the fourth quarter of 2021,' said CEO Jürgen Hermann.
Copyright RTT News/dpa-AFX