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23.05.2024 07:00:55 - dpa-AFX: EQS-News: NFON AG further advances its reorganisation in Q1 2024 and increases revenue and profitability as planned (english)
NFON AG further advances its reorganisation in Q1 2024 and increases revenue
and profitability as planned
EQS-News: NFON AG / Key word(s): Quarterly / Interim Statement
NFON AG further advances its reorganisation in Q1 2024 and increases revenue
and profitability as planned
23.05.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
NFON AG further advances its reorganisation in Q1 2024 and increases revenue
and profitability as planned
* Recurring revenue up 2.8% at EUR 19.9 million in first quarter of 2024
* Share of recurring revenue increases to 93.6% of total revenue
Munich, 23 May 2024 - NFON, a leading European provider of integrated cloud
business communications, recorded positive business performance overall in
the first quarter of 2024 and reached key strategic milestones.
In addition to successful customer acquisition, the growth achieved in the
first quarter of 2024 was also attributable to the fact that the number of
seats installed with customers increased by 2.0% year-on-year to 658,544 in
the first quarter of 2024 (3M 2023: 645,582). Revenue growth was also
boosted by cross-selling activities with the expanded product portfolio
(premium solutions). Recurring revenue, a key figure for NFON, therefore
grew by 2.8% to EUR 19.9 million (3M 2023: EUR 19.3 million). Total revenue
saw an increase of 2.2% to EUR 21.2 million (3M 2023: EUR 20.8 million). As
a result, the share of high-margin recurring revenue rose to 93.6% of total
revenue in the first quarter of 2024 (3M 2023: 93.1%). Seat growth is stable
and in line with our planning for the following quarters in 2024, with price
indexation leading to additional sales from April 2024. The high share of
recurring revenue is driven by the high level of satisfaction among NFON's
customers and forms a solid foundation for the future. With the focus on
profitability, earnings performance also improved in the first quarter of
2024. Adjusted earnings before interest, taxes, depreciation and
amortisation (EBITDA) increased to EUR 2.8 million in the first three months
of 2024, after EUR 2.0 million in the same period of the previous year.
Before adjustments, EBITDA for the reporting period amounted to EUR 2.7
million (3M 2023: EUR 1.9 million).
With the goal of living up to its self-image as an innovative pioneer in
integrated cloud business communications on the European market and enabling
itself to exploit further market potential, NFON focused on establishing
operational excellence. The extensive transformation measures initiated in
2023 led not only to a comprehensive restructuring of the organisation, but
also to more efficient process design. The restaffing and reorganisation of
the management levels was already completed in the second half of 2023. At
the beginning of this year, NFON also strengthened its technological
innovation by appointing Andreas Wesselmann as Chief Technology Officer. In
order to boost profitability, measures have also been taken to optimise the
process landscape and cost base.
Further structural adjustments are planned on the path to operational
excellence. For example, NFON is continuing to work on optimising the
alignment between the customer- and market-based product management and the
service-focused sales units and agile development. Based on this foundation,
the three strategic growth pillars - "innovative product development",
"focus on sales excellence" and "stronger partnerships" - will likely begin
to have a lasting impact on NFON's performance from the first half of 2024.
Patrik Heider, CEO and CFO of NFON, explains: "The current figures show that
our strategy is effective. Our work in 2023 is paying off and starting to
produce significant successes. In the current year, we will continue to
press ahead with the changes initiated with the goal of operational
excellence, which will enable us to strengthen growth and especially
profitability. We are on the right track to ensure that NFON enjoys
continuously and sustainably profitable development."
For financial year 2024, the company plans growth in recurring revenue of a
mid- to upper-single-digit percentage (2023: 4.8%). The Management Board
therefore anticipates a share of recurring revenue of >90% of total revenue
(2023: 93.7%). Adjusted EBITDA is expected to amount to EUR 10-12 million
(2023: EUR 8.4 million).
The quarterly statement is available to download in the Investor Relations
section of NFON AG's website as of today.
Overview of results for the first three months of 20241:
1 Unless stated otherwise, all values in the consolidated financial
statements and the related notes are rounded. The tables may therefore show
rounding differences.
2 Based on average number of seats per month in the periods under
consideration.
Investor Relations contact
NFON AG
Friederike Thyssen
Vice President for Investor Relations & Sustainability
+49 89 453 00-449
ir-info@nfon.com
cometis AG
Claudius Krause
+49 611 205855-28
krause@cometis.de
Media contact
NFON AG
Thorsten Wehner
Vice President for Public Relations
+49 89 453 00-121
thorsten.wehner@nfon.com
About NFON AG
NFON AG, which is headquartered in Munich, is a leading European provider of
integrated cloud business communications. The listed company (Frankfurt
Stock Exchange, Prime Standard) with more than 3,000 partners in 18 European
countries and eight branches counts more than 55,000 companies among its
customers. The NFON portfolio comprises four areas: Business Communications,
Integration, Customer Contact and Enablement. With its core product Cloudya,
the smart cloud communications platform, NFON offers hassle-free voice
calls, simple video conferencing and seamless integration of CRM and
collaboration tools for small and medium-sized companies.
All NFON's cloud services are operated in certified data centres in Germany,
with 100% of their energy needs covered by renewable sources. NFON
accompanies companies into the future of business communication by offering
intuitive communication solutions.
http://www.nfon.com/
Disclaimer
This notification is provided for information purposes only and constitutes
neither an offer to sell nor an invitation to buy or subscribe to securities
of the company. The securities discussed in this notification are not and
will not be registered under the US Securities Act of 1933 as amended ("US
Securities Act") and are permitted to be sold or offered for purchase in the
United States of America only after prior registration or on the basis of an
exemption under the US Securities Act. No public offer of the securities
discussed in this notification will be made in the United States of America
and the information contained in this notification does not constitute an
offer to buy securities. This notification is not intended for direct or
indirect distribution, publication or dissemination to or within the United
States of America, Australia, Canada, Japan or other countries in which the
distribution of this notification is unlawful, or to US persons.
---------------------------------------------------------------------------
23.05.2024 CET/CEST Dissemination 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.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
End of News EQS News Service
---------------------------------------------------------------------------
1909033 23.05.2024 CET/CEST
and profitability as planned
EQS-News: NFON AG / Key word(s): Quarterly / Interim Statement
NFON AG further advances its reorganisation in Q1 2024 and increases revenue
and profitability as planned
23.05.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
NFON AG further advances its reorganisation in Q1 2024 and increases revenue
and profitability as planned
* Recurring revenue up 2.8% at EUR 19.9 million in first quarter of 2024
* Share of recurring revenue increases to 93.6% of total revenue
* Significantly improved adjusted EBITDA of EUR 2.8 million results in
adjusted EBITDA margin of 13.2% in relation to revenue
* Further milestones achieved in creating solid foundations for sustained
profitable growth
Munich, 23 May 2024 - NFON, a leading European provider of integrated cloud
business communications, recorded positive business performance overall in
the first quarter of 2024 and reached key strategic milestones.
In addition to successful customer acquisition, the growth achieved in the
first quarter of 2024 was also attributable to the fact that the number of
seats installed with customers increased by 2.0% year-on-year to 658,544 in
the first quarter of 2024 (3M 2023: 645,582). Revenue growth was also
boosted by cross-selling activities with the expanded product portfolio
(premium solutions). Recurring revenue, a key figure for NFON, therefore
grew by 2.8% to EUR 19.9 million (3M 2023: EUR 19.3 million). Total revenue
saw an increase of 2.2% to EUR 21.2 million (3M 2023: EUR 20.8 million). As
a result, the share of high-margin recurring revenue rose to 93.6% of total
revenue in the first quarter of 2024 (3M 2023: 93.1%). Seat growth is stable
and in line with our planning for the following quarters in 2024, with price
indexation leading to additional sales from April 2024. The high share of
recurring revenue is driven by the high level of satisfaction among NFON's
customers and forms a solid foundation for the future. With the focus on
profitability, earnings performance also improved in the first quarter of
2024. Adjusted earnings before interest, taxes, depreciation and
amortisation (EBITDA) increased to EUR 2.8 million in the first three months
of 2024, after EUR 2.0 million in the same period of the previous year.
Before adjustments, EBITDA for the reporting period amounted to EUR 2.7
million (3M 2023: EUR 1.9 million).
With the goal of living up to its self-image as an innovative pioneer in
integrated cloud business communications on the European market and enabling
itself to exploit further market potential, NFON focused on establishing
operational excellence. The extensive transformation measures initiated in
2023 led not only to a comprehensive restructuring of the organisation, but
also to more efficient process design. The restaffing and reorganisation of
the management levels was already completed in the second half of 2023. At
the beginning of this year, NFON also strengthened its technological
innovation by appointing Andreas Wesselmann as Chief Technology Officer. In
order to boost profitability, measures have also been taken to optimise the
process landscape and cost base.
Further structural adjustments are planned on the path to operational
excellence. For example, NFON is continuing to work on optimising the
alignment between the customer- and market-based product management and the
service-focused sales units and agile development. Based on this foundation,
the three strategic growth pillars - "innovative product development",
"focus on sales excellence" and "stronger partnerships" - will likely begin
to have a lasting impact on NFON's performance from the first half of 2024.
Patrik Heider, CEO and CFO of NFON, explains: "The current figures show that
our strategy is effective. Our work in 2023 is paying off and starting to
produce significant successes. In the current year, we will continue to
press ahead with the changes initiated with the goal of operational
excellence, which will enable us to strengthen growth and especially
profitability. We are on the right track to ensure that NFON enjoys
continuously and sustainably profitable development."
For financial year 2024, the company plans growth in recurring revenue of a
mid- to upper-single-digit percentage (2023: 4.8%). The Management Board
therefore anticipates a share of recurring revenue of >90% of total revenue
(2023: 93.7%). Adjusted EBITDA is expected to amount to EUR 10-12 million
(2023: EUR 8.4 million).
The quarterly statement is available to download in the Investor Relations
section of NFON AG's website as of today.
Overview of results for the first three months of 20241:
in EUR million 3M 2024 3M 2023 Change in %
Total revenue 21.2 20.8 2.2
Recurring revenue 19.9 19.3 2.8
Share of recurring revenue 93.6% 93.1% -
Non-recurring revenue 1.4 1.4 -6.1
Share of non-recurring revenue 6.4% 6.9% -
ARPU blended2(in EUR) 9.82 9.80 0.2
Number of seats 658,544 645,582 2.0
(31 March)
EBITDA 2.7 1.9 -
Adjusted EBITDA 2.8 2.0 -
1 Unless stated otherwise, all values in the consolidated financial
statements and the related notes are rounded. The tables may therefore show
rounding differences.
2 Based on average number of seats per month in the periods under
consideration.
Investor Relations contact
NFON AG
Friederike Thyssen
Vice President for Investor Relations & Sustainability
+49 89 453 00-449
ir-info@nfon.com
cometis AG
Claudius Krause
+49 611 205855-28
krause@cometis.de
Media contact
NFON AG
Thorsten Wehner
Vice President for Public Relations
+49 89 453 00-121
thorsten.wehner@nfon.com
About NFON AG
NFON AG, which is headquartered in Munich, is a leading European provider of
integrated cloud business communications. The listed company (Frankfurt
Stock Exchange, Prime Standard) with more than 3,000 partners in 18 European
countries and eight branches counts more than 55,000 companies among its
customers. The NFON portfolio comprises four areas: Business Communications,
Integration, Customer Contact and Enablement. With its core product Cloudya,
the smart cloud communications platform, NFON offers hassle-free voice
calls, simple video conferencing and seamless integration of CRM and
collaboration tools for small and medium-sized companies.
All NFON's cloud services are operated in certified data centres in Germany,
with 100% of their energy needs covered by renewable sources. NFON
accompanies companies into the future of business communication by offering
intuitive communication solutions.
http://www.nfon.com/
Disclaimer
This notification is provided for information purposes only and constitutes
neither an offer to sell nor an invitation to buy or subscribe to securities
of the company. The securities discussed in this notification are not and
will not be registered under the US Securities Act of 1933 as amended ("US
Securities Act") and are permitted to be sold or offered for purchase in the
United States of America only after prior registration or on the basis of an
exemption under the US Securities Act. No public offer of the securities
discussed in this notification will be made in the United States of America
and the information contained in this notification does not constitute an
offer to buy securities. This notification is not intended for direct or
indirect distribution, publication or dissemination to or within the United
States of America, Australia, Canada, Japan or other countries in which the
distribution of this notification is unlawful, or to US persons.
---------------------------------------------------------------------------
23.05.2024 CET/CEST Dissemination 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.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
Language: English
Company: NFON AG
Zielstattstr. 36
81379 Munich
Germany
Phone: +49 89 453 00 0
E-mail: ir-info@nfon.com
Internet: https://corporate.nfon.com
ISIN: DE000A0N4N52
WKN: A0N4N5
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1909033
End of News EQS News Service
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1909033 23.05.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
NFON AG INH O.N. | A0N4N5 | Frankfurt | 5,650 | 14.06.24 09:03:09 | -0,100 | -1,74% | 0,000 | 0,000 | 5,650 | 5,650 |
