COLOGNE (dpa-AFX) - q.beyond AG said it plans to increase 2022 revenues by at least 16% to between 180 million euros and 200 million euros. The company noted that the broad range of this forecast is due to the uncertainty surrounding the impact of the war in Ukraine on the German economy. The company expects to generate EBITDA of 8 million euros to 16 million euros in 2022.
The company's new growth strategy, beyond 2022, targets revenues rising to between 270 million euros and 300 million euros in 2025. In 2025, the company expects to achieve an EBITDA margin of 14% to 16% and free cash flow of 15 million euros to 25 million euros.
The company said the growth planned for the coming years will be driven by all three business fields: Cloud, SAP and SaaS. In Cloud business, the company will particularly benefit from the further rise in demand for cloud and security solutions.
Jürgen Hermann, q.beyond's CEO, said: 'The profitable growth in our Cloud and SAP businesses creates the basis for us to expand SaaS solutions offering great growth and earnings potential.'
In fiscal 2021, q.beyond generated revenues of 155.2 million euros, an increase of 8% from prior year. The company said the revenue growth was driven above all by success in the Cloud business, where segment revenues rose by 11% to 113.7 million euros. With EBITDA of 31.7 million euros and free cash flow of 33.2 million euros, the company also achieved the other targets communicated in its forecast. Consolidated net income was 9.8 million euros compared to a loss of 19.9 million euros, last year.
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