11880 Solutions AG presents financial results for 2023: Operating cash flow
positive again

EQS-News: 11880 Solutions AG / Key word(s): Annual Results/Annual Report
11880 Solutions AG presents financial results for 2023: Operating cash flow
positive again

30.04.2024 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Essen, 30 April 2024 - 11880 Solutions AG was able to significantly improve
its earnings and slightly increase its revenue in a turbulent economic
environment in the 2023 financial year. The company's goal of increasing
profitability was achieved: operating cash flow was positive again on an
annualised basis.

In the 2023 financial year, 11880 Solutions AG generated sales of EUR 57.1
million (2022: EUR 56.0 million). Of this, EUR 44.8 million was attributable
to the Digital Business (2022: EUR 43.7 million) and EUR 12.3 million to the
Directory Assistance segment (2022:EUR 12.4 million). Although the call
volume in directory enquiries declined even more sharply in 2023 compared to
previous years at 25%, sales were largely offset by higher order volumes and
new customers in the call centre services business.

Group EBITDA rose from EUR 2.4 million in the previous year to EUR 2.6
million in the 2023 financial year. The Digital Business generated higher
EBITDA of EUR 2.6 million compared to the previous year (2022: EUR 2.3
million); EBITDA in the Directory Assistance segment totalled EUR 0.0
million (2022: EUR 0.1 million).

'The 2023 financial year was very busy for us. Our efforts were rewarded, as
we succeeded in realising our most important goal and generating a positive
operating cash flow. At the same time, we were able to increase both sales
and EBITDA. What we have achieved motivates us to continue this course in
the current financial year and to continue to focus more strongly on
operating profit,' says Christian Maar, CEO of 11880 Solutions AG. 'In 2024,
we are focussing on creating more value for the major rating search engine
werkenntdenBESTEN, which continues to grow rapidly. In addition, our team of
experts is currently developing a range of AI solutions to support and
optimise various business processes in order to improve our product quality
and customer satisfaction on the one hand and increase profitability on the
other.'

For the current 2024 financial year, 11880 Solutions AG expects revenue of
between EUR 54.3 million and EUR 60.0 million and EBITDA of between EUR 3.1
million and EUR 4.6 million at Group level.

The 2023 annual report of 11880 Solutions AG is available for download at:
https://ir.11880.com/finanzberichte

Contact:
Anja Meyer
11880 Solutions AG
Tel.: 0201 / 8099-188
E-Mail: anja.meyer@11880.com


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30.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        11880 Solutions AG
                   Hohenzollernstraße 24
                   45128 Essen
                   Germany
   Phone:          0201-80990
   E-mail:         info@11880.com
   Internet:       www.11880.com
   ISIN:           DE0005118806, DE0005118806, ,
   WKN:            511880, 511880
   Indices:        Prime All Share
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1892035

End of News EQS News Service
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1892035 30.04.2024 CET/CEST