COLOGNE (dpa-AFX) - German Cloud and ICT provider q.beyond AG (QSCGF.PK) reported Monday that its first-quarter consolidated net loss widened to 5.0 million euros from last year's loss of 3.5 million euros.
EBIT was a loss of 4.6 million euros, compared to loss of 3.3 million euros a year ago. EBITDA totalled negative 1.3 million euros, as against profit of 0.8 million euros in the previous year.
q.beyond revenues grew 13 percent to 46.6 million euros from last year's 41.2 million euros. Revenues in the Cloud segment rose 15 percent to 36.9 million euros. SAP revenues rose 4 percent.
Looking ahead for fiscal 2023, q.beyond continues to expect revenues to grow to between 185 million euros and 191 million euros, up from last year's 173.0 million euros. EBITDA is still expected to be in the range of 5 million euros to 7 million euros, compared to prior year's 5.4 million euros.
Decreasing personnel expenses as the year progresses and efficiency gains from streamlining processes and structures in 'One q.beyond' will lead to rising EBITDA, above all in the second half of the year, the company said.
Further, CEO Thies Rixen confirmed targets for the years ahead. He said, 'With the 2025 Strategy, we will generate a sustainably positive free cash flow starting 2024 and achieve positive consolidated net income one year later. By 2025, the EBITDA margin will also rise to 7 percent to 8 percent - and thus more than double compared with 2022.'
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