11880 Solutions AG reports sales growth in the first nine months of 2023

EQS-News: 11880 Solutions AG / Key word(s): 9 Month figures
11880 Solutions AG reports sales growth in the first nine months of 2023

09.11.2023 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Essen, 9 November 2023 - 11880 Solutions AG increased its revenue to EUR
42.3 million in the first nine months of the current 2023 financial year (9
months 2022: EUR 41.0 million). The digital business generated EUR 33.5
million in the reporting period (9 months 2022: EUR 32.3 million), while the
directory assistance business contributed EUR 8.8 million (9 months 2022: EUR
8.7 million) to total revenue.

At EUR 1.3 million, Group EBITDA in the reporting period was slightly below
the previous year's figure of EUR 1.6 million. EBITDA in the digital business
amounted to EUR 1.5 million as of 30 September 2023 (9 months 2022: EUR 1.7
million) and to minus EUR 0.2 million in the directory assistance business (9
months 2022: EUR -0.1 million). The main reason for the slight decline is
higher bad debt losses, which are primarily due to the massive increase in
the number of insolvencies in Germany.

'In view of the general economic situation, we are very satisfied with the
current development of our company. We were right to embark on an efficiency
drive at the beginning of the year, which is already showing clear effects.
We were able to optimise our costs, have a stable cash cushion and have now
been reporting a positive cash flow for two quarters. It is particularly
pleasing that we are still on course for growth despite the efficiency
measures we have implemented,' explains Christian Maar, CEO of 11880
Solutions AG.

11880 Solutions AG intends to maintain its promising growth trajectory in
the fourth quarter of 2023. In the directory assistance business, a new
customer was acquired in the call centre services segment. The area
continues to grow and can thus help to compensate for the continuing
market-related decline in the directory enquiries business. In the digital
business, the product and sales areas were brought closer together to be
able to respond even more flexibly and efficiently to the requirements and
wishes of corporate customers in future.

You can find the nine-month report 2023 here:
https://ir.11880.com/finanzberichte




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


---------------------------------------------------------------------------

09.11.2023 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:        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:    1768743

End of News EQS News Service
---------------------------------------------------------------------------

1768743 09.11.2023 CET/CEST