Q.beyond Confirms Preliminary Results: Revenues Grow 8% in Q3 2022

EQS-News: q.beyond AG / Key word(s): Quarterly results/Quarterly / Interim statement

q.beyond confirms its preliminary results: revenue up 8% in Q3 2022

07.11.2022 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

q.beyond confirms its preliminary results: revenue up 8% in Q3 2022

Cologne, November 7, 2022. As reported on October 26, in a quarter marked by great economic uncertainty, q.beyond further increased its revenue by 8% to EUR 43.1 million. The IT service provider has benefited here from its business model, much of which is crisis-proof. Of total third-quarter 2022 revenue, 78% was recurring, while 60% was generated across the company’s three focus areas of retail, logistics and manufacturing.

The SAP business is poised to return to profitable growth

q.beyond has a strong market position, especially in its cloud business, and continues to expand its lead. In recent quarters, the company has, among other things, extended its hybrid cloud expertise and, to this end, has created a proprietary Cloud Competence Center with around 150 experts. It is for this reason in particular that the revenues of the “Cloud & IoT” segment increased by 18% year-on-year to reach 35.3 million euros during the last quarter. After realignment, the second segment, “SAP”, will also return to profitable growth in the coming year. In the third quarter of 2022, revenues here amounted to 7.9 million euros compared to 10.0 million euros the previous year.

Net liquidity of € 42.5 million

Based on revenue of €43.1 million, EBITDA amounted to €1.7 million in the third quarter of 2022 while free cash flow stood at -€1.7 million. The prior year figures of EUR 29.4 million for EBITDA and EUR 3.6 million for free cash flow were strongly influenced by the successful sale of the colocation business during of this quarter. With net cash of 42.5 million euros and virtually no debt, the company is also very well funded for a more prolonged economic downturn.

For the current financial year, the company has forecast revenue of between 174 and 178 million euros, EBITDA of between 6 and 8 million euros and free cash flow of up to -10 million. euros. Like the previous year, he expects a strong fourth quarter. Along with growing organic business, revenue will also benefit for the first time from the recently acquired majority stake in productive-data. This Hamburg-based data analytics specialist focuses on introducing, improving and operating data warehousing solutions in industries such as retail. This will further increase the value created within q.beyond’s cloud business.

Key figures at a glance

millions of euros Q3 2022 Q3 2021
Revenue 43.1 40.0
– Cloud and IoT 35.3 30.0
-SAP 7.9 10.0
EBITDA 1.7 1.6 (+29.4*)
Consolidated net income (2.8) 20.7
Free movement of capital (1.7) 3.6
Equity ratio as of September 30 76% 75%
Employees as of September 30 1,127 1,037

* Including impact of the sale of shared accommodation.

Remarks:
This Corporate News contains forward-looking statements based on management’s current expectations and forecasts regarding future events. Due to risks or incorrect assumptions, actual results may differ materially from these forward-looking statements. The full quarterly statement is available at www.qbeyond.de/en/investor-relations.

About q.beyond AG:
q.beyond AG is the key to successful digitization. We help our clients find the best digital solutions for their business and then put them into practice. Our 1,100 strong team supports SME customers securely and reliably throughout their digital journey. We are experts in Cloud, SAP and SaaS. With locations all over the country and its own certified data centers, q.beyond is one of the leading IT service providers in Germany.

Contact:
q.beyond AG
Arne Thull
Head of Investor Relations/Mergers & Acquisitions
T +49 221 669 8724
invest@qbeyond.de
www.qbeyond.de

07.11.2022 CET/CEST Broadcast of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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