DGAP-News: 11880 Solutions AG announces figures for the first quarter of 2020: Revenue growth despite coronarivus crisis

Essen, 7 May 2020 - 11880 Solutions AG today announced that it generated revenue of EUR 12.1 million in the first quarter of 2020, which represents a year-on-year increase of 4.3 percent (Q1 2019. EUR 11.6 million). Of this amount, the Digital business accounted for EUR 9.1 million (Q1 2019: EUR 8.3 million) and the Directory Assistance business for EUR 3.0 million (Q1 2019: EUR 3.3 million). Customer growth in the Digital business continued despite the Coronavirus crisis, as 1,632 new contract customers were acquired in the first quarter of 2020. This brings the total number of customers in the Digital business as of 31 March 2020 to 40,298.

EBITDA of 11880 Solutions AG at the end of the first quarter of 2020 amounted to EUR 0.4 million and is below the prior-year figure of EUR 0.8 million due to costs for the introduction of a new, Group-wide IT infrastructure that do not qualify for capitalisation.

Christian Maar, CEO of 11880 Solutions AG, commented: "After the first quarter of the current financial year, we are fully on track despite coronavirus and are confident that we will continue to successfully get through this crisis. In the Digital business, our focus this year is on fine-tuning our portals to further increase the added value offered to our customers. This also includes the implementation of a new IT infrastructure, which will be the basis for successful growth. In the Directory Assistance segment, we further grew our market share by partnering with the FRED 11811 directory assistance service. In the call centre third-party business, talks on collaboration are being held with other companies for which we intend to provide services in the coming months."

The Q1 2020 interim management statement of 11880 Solutions AG is available at:
https://ir.11880.com/finanzberichte