EQS-News

KPS publishes results for the first six months of the 2023/2024 financial year

EQS-News: KPS AG / Key word(s): Half Year Results KPS publishes results for the first six months of the 2023/2024 financial year 06.05.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. KPS publishes results for the first six months of the 2023/2024 financial year

• Revenue reaches EUR 75.9 million in the first six months of the 2023/2024 financial year.
• Unadjusted EBITDA fell significantly to EUR -1.7 million and was primarily impacted by the unscheduled write-downs on receivables as a result of the insolvencies of the customers KaDeWe and The Body Shop totalling EUR 4.2 million as well as restructuring measures amounting to EUR 0.7 million. Adjusted EBITDA excluding these special effects was positive at EUR 3.2 million.
• Measures to improve efficiency continue to be driven forward.

Unterföhring/Munich, 06 May 2024 - KPS AG (WKN: A1A6V4 / ISIN: DE000A1A6V48), Europe's leading management consultancy for digital transformation and process optimisation in retail, has published its results for the first six months of the 2023/2024 financial year.

In the first six months of the 2023/2024 financial year, KPS generated revenues of EUR 75.9 million (previous year: EUR 94.7 million). This corresponds to a 19.8% decline in revenue compared to the same period last year. On the one hand, there was a slow recovery in demand. As some existing projects entered the maturity phase at the same time, the growth from new projects was not sufficient to compensate for the decline in existing business.

Several negative factors lead to significant decline in earnings

KPS reacted to the weak revenue trend in the first half of the year and took countermeasures. Capacities were adjusted to reflect current project demand. A significant part of the adjustment was achieved through staff turnover, but restructuring measures had to be introduced in some areas, which led to extraordinary expenses totalling EUR 0.7 million.