q.beyond AG
QSC grows in its Cloud business and raises its free cash flow forecast
DGAP-News: QSC AG / Key word(s): Quarterly / Interim Statement/9-month figures QSC grows in its Cloud business and raises its free cash flow forecast – Cloud revenues up 63% in first nine months of 2017 Particularly dynamic developments were seen in Cloud – the Company’s newest segment – in the first nine months of 2017. Revenues here, which are generated above all with the Pure Enterprise Cloud and the Internet of Things (IoT) portfolio, surged year-on-year by 63% to EUR 19.5 million. QSC’s revenues in its Consulting segment and its TC business with corporate customers were at the same level as in the previous year. Due to market and regulatory factors, however, TC revenues with resellers fell by EUR 22.9 million to EUR 68.4 million. Revenues in the Outsourcing segment decreased by EUR 13.4 million to EUR 77.9 million. To account for the positive development in its free cash flow, QSC has raised its full-year forecast for 2017. Accordingly, the Company now expects to generate free cash flow of between EUR 10 million and EUR 11 million. It previously only expected to slightly exceed the previous year’s figure of EUR 8.4 million. QSC still plans to generate revenues of EUR 355 million to EUR 365 million and EBITDA of between EUR 36 million and EUR 40 million. Comments QSC’s CEO, Jürgen Hermann: “We are consistently implementing our plans for 2017 – gradually expanding our Cloud business, boosting our TC business with corporate customers and raising our profitability.”
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06.11.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | QSC AG |
Mathias-Brüggen-Straße 55 | |
50829 Cologne | |
Germany | |
Phone: | +49-221-669-8724 |
Fax: | +49-221-669-8009 |
E-mail: | invest@qsc.de |
Internet: | www.qsc.de |
ISIN: | DE0005137004 |
WKN: | 513700 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |