EQS-Adhoc: ecotel communication ag: Sale of the easybell GmbH holding for approximately € 58.5 million – ecotel adjusts forecast

On today’s date, ecotel communication ag (ecotel) concluded a contract for the sale of its more than 50.9% holding in easybell GmbH with the co-shareholder Dstny Group, which operates throughout Europe. Dstny will therefore acquire all shares in easybell GmbH and its subsidiaries (easybell Group). The transaction is subject to the usual closing conditions and will be concluded before the end of this year.

After deduction of transaction fees, the revenue for the shares held by ecotel communication ag is expected to total between € 55.5 and 56.5 million, which will become due after closing of the transaction.

The easybell Group, as part of an enterprise with pan-European operations, can continue to step up its growth trajectory internationally. At the same time, ecotel can use the additional liquid funds to enhance shareholder value and the company’s own business with cloud telephony and fiber optic services for business customers, in an accelerated and more focused manner.

As a result of the sale of the easybell GmbH holding, the ecotel Group reporting will be adapted accordingly: the easybell Group will no longer be fully consolidated, but will now be recognized in accordance with the rules of IFRS 5 as “assets and liabilities held for sale.” This change in accounting will mean that the forecast for financial year 2022 will have to be adjusted as follows:

For financial year 2022 the Management Board now expects revenue in the ecotel Business Solutions segment in a corridor from € 45 to 47 million (previously € 47 to 50 million), in the Wholesale segment in a corridor from € 43 to 48 million (previously € 20 to 25 million), and in the nacamar segment of about € 1 million (previously € 0.5 to 1.5 million).

The Management Board therefore expects reported consolidated EBITDA in a corridor of € 68 to 75 million for financial year 2022.

Adjusted consolidated EBITDA* in the future will comprise the ecotel Business Solutions, ecotel Wholesale and nacamar segments, and will be in a corridor of € 8.5 to 10.5 million, in line with the previous forecast. Together with the easybell segment, this figure was € 20 to 22 million.

*The term EBITDA is defined on page 14 of ecotel’s Annual Report for 2021. The adjustments include the one-off effect of about € 14.9 million communicated in July 2022, as well as the expected revenue from deconsolidation.

About ecotel communication ag:

The ecotel Group (hereinafter »ecotel«) has been operating nationwide since 1998 and is established as one of Germany’s leading providers of high-quality business solutions. With the focus on “cloud & fiber” in 2022, ecotel supplies the two most important growth areas of the German telecommunications market. The parent company is ecotel communication ag with headquarters in Düsseldorf. Including its subsidiary, ecotel has a total of about 225 employees. Currently, ecotel provides full cloud and fiber services to more than 20,000 customers throughout Germany.

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ecotel communication ag
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