EQS-News

ecotel makes strong start to 2024 financial year

EQS-News: ecotel communication ag / Key word(s): Quarterly / Interim Statement/Quarter Results ecotel makes strong start to 2024 financial year 08.05.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement.

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• B2B segment records slight growth
• Total sales: EUR 28.1 million (previous year: EUR 28.6 million)
• Gross profit: EUR 8.1 million (previous year: EUR 8.1 million)
• Operating EBITDA: EUR 1.8 million (previous year: EUR 3.4 million)
• Roll-out of major new projects begins

Düsseldorf, 8 May 2024

The first quarter of 2024 went to plan. Sales in the ecotel Business Customers segment increased slightly to EUR 11.5 million (previous year: EUR 11.4 million). The major new orders that were concluded recently are being implemented as planned and are expected to lead to stronger sales growth in the ecotel Business Customers segment from the second quarter onwards. As expected, gross profit in this segment declined slightly to EUR 7.6 million in the first quarter of 2024 (previous year: EUR 7.7 million) due to the positive non-recurring effects of EUR 0.3 million in the same period of 2023. Adjusted for these effects, gross profit in the ecotel Business Customers segment increased by EUR 0.2 million.

Sales in the ecotel Wholesale segment declined year-on-year to EUR 16.6 million as forecast (previous year: EUR 17.2 million). Despite the lower level of sales, gross profit rose by EUR 0.1 million to EUR 0.5 million (previous year: EUR 0.4 million). This was due to the increased share of high-margin wholesale data services in the overall sales mix.

Operating EBITDA amounted to EUR 1.8 million in the first quarter (previous year: EUR 3.4 million) due to the forecast impact of initial investments for the implementation of major new projects. In addition to these initial investments, it should be noted that operating EBITDA in the same period of the previous year included income from the transfer of right-of-use assets for internet resources in the amount of EUR 1.4 million and the aforementioned gross profit effect of EUR 0.3 million. Adjusted for these effects, operating EBITDA increased slightly (EUR 1.8 million; previous year, adjusted: EUR 1.7 million). In light of the anticipated sales growth, we expect operating EBITDA to continue to increase as the year continues.