DGAP-News: QSC announces preliminary numbers for 2011 and plans to pay a dividend of EUR 0.08 per share
(firmenpresse) - DGAP-News: QSC AG / Key word(s): Preliminary Results/Dividend
QSC announces preliminary numbers for 2011 and plans to pay a dividend
of EUR 0.08 per share
05.03.2012 / 07:30
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QSC announces preliminary numbers for 2011 and plans to pay a dividend of
EUR 0.08 per share
Cologne, March 5, 2012. In 2011, QSC AG accelerated its evolution into an
ICT provider and raised key metrics. Given the Company's strong financial
position and profitability, the Management Board will, as planned, propose
to the Annual Shareholders Meeting to declare the first ever distribution
of a dividend in the amount of EUR 0.08 per share. QSC views this amount as
being the minimum for the coming years, as well, while striving to steadily
increase the dividend.
The QSC Group increased revenues to EUR 478.1 million in fiscal 2011,
compared to EUR 422.1 million the year before. The initial consolidation of
the two new subsidiaries, IT Outsourcing and IT Consulting provider INFO AG
(effective May 2, 2011) and Housing and Hosting specialist IP Partner
(effective January 3, 2011) played a key role in this positive development.
Moreover, QSC was able to win new SME customers and sell additional
products and services to its existing customer base. As a result of these
advances, in 2011 the Company was able to significantly increase the
percentage of total revenues accounted for by IP-based revenues to 77
percent, compared to 68 percent the year before. QSC generated only 23
percent of total revenues in the conventional 'old' lines of business of a
TC provider, such as call by call and reselling DSL lines; revenues in
'old' business declined by nearly EUR 25 million in fiscal 2011.
QSC invested in growth and recruited additional professionals in 2011
The rising percentage of ICT revenues and, in particular, the relatively
personnel-intensive revenues here in Consulting and Outsourcing business
altered the cost structure of the QSC Group, especially during the second
half of fiscal 2011. Plus capital investments in the strong growth of ICT
business, especially through the recruitment of further staff: At year-end
2011, the QSC Group, including the two new subsidiaries, employed a
workforce of 1,303 people, compared to 608 the year before.
In spite of these factors, QSC was able to raise its EBITDA by 2 percent to
EUR 79.9 million during the past fiscal year, with the EBITDA margin
reaching 17 percent. EBIT improved by 25 percent to EUR 26.2 million during
the past fiscal year. Consolidated net income rose by 16 percent to EUR
28.0 million. QSC financed both the acquisitions of IT providers INFO AG
and IP Partner as well as needed capital expenditures predominantly from
within. The unbroken financial strength of the QSC Group was underscored by
a further rise in free cash flow to EUR 41.0 million.
Outlook for 2012: QSC anticipates revenues of EUR 480 - EUR 510 million
In fiscal 2012, QSC will largely conclude its transformation process from a
TC provider into an ICT provider, and will be driving the integration of
INFO AG and IP Partner. The merger of these two subsidiaries that was
announced in January 2012, and the resulting acquisition of the remaining
INFO AG shares, will facilitate Group-wide collaboration and serve as a key
prerequisite for sustained profitable growth in 2013 and beyond. The
uncertain economic situation in early 2012 makes it extremely difficult to
properly assess the resulting dynamic. Regardless of the economy, though,
QSC expects to see a further decline in conventional TC lines of business,
such as call by call and ADSL2+, on the order of some EUR 25 million in
2012. On the other hand, the Company plans to grow faster than the market
in such ICT lines of business as Outsourcing and Consulting.
Overall, the QSC Group anticipates revenues of between EUR 480 and EUR 510
million in fiscal 2012. Given that this will be the first full-year
consolidation of these two subsidiaries, the Company is striving for an
EBITDA margin of at least 16 percent. In addition, the Company expects to
see a free cash flow of between EUR 22 and EUR 32 million. This guidance
takes into account planned capital investments in growth, especially in
Direct Sales, and for the first time does not include any payments from
TELE2, the former co-owner of network operating company Plusnet.
QSC reiterates long-term goals for fiscal 2016
QSC Chief Executive Officer Dr. Bernd Schlobohm is convinced that 2012 will
be 'a year of preparation' for achieving the full strength and power of the
QSC Group. Growing success with ICT and increasingly with Cloud services,
as well, coupled with the declining importance of conventional TC business
is likely to mean that the Company will achieve stronger revenue growth
beginning in 2013, while steadily improving its profitability and financial
strength. Schlobohm: 'We know our long-term goals: In 2016, the QSC Group
will be an organization with revenues of between EUR 800 million and EUR 1
billion, an EBITDA margin of 25 percent and a free cash flow of between EUR
120 and EUR 150 million. These are highly ambitious goals. However the
advances we made last year, the further preparations in 2012 and the
tangible get-up-and-go spirit that prevails throughout the entire QSC Group
show that we are heading in the right direction.'
In EUR million 2011 2010*As of December 31
Revenues 478.1 422.1
- IP-based 369.5 288.9
EBITDA 79.9 78.1
EBIT 26.2 20.9
Consolidated net income 28.0 24.2
Free cash flow 41.0 27.7
Net liquidity* -33.1 28.4
Liquid assets* 24.1 46.6
Capital expenditures 35.6 29.2
Workforce* 1,303 608
Queries to:
QSC AG
Arne Thull
Head of Investor Relations
Phone: +49 221 6698-724
E-mail: invest(at)qsc.de
Notes:
The Annual Report will be available for download at
http://www.qsc.de/en/qsc-ag/investor-relations.html from March 30, 2012.
This corporate news contains forward-looking statements. These
forward-looking statements are based on current expectations and forecasts
of future events by the management of QSC AG. Due to risks or mistaken
assumptions, actual results may deviate substantially from those made in
such forward-looking statements.
End of Corporate News
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05.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: QSC AG
Mathias-Brüggen-Straße 55
50829 Köln
Germany
Phone: +49-221-6698-724
Fax: +49-221-6698-009
E-mail: invest(at)qsc.de
Internet: www.qsc.de
ISIN: DE0005137004
WKN: 513700
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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