DGAP-News: QSC gets off to fiscal 2012 as planned
(firmenpresse) - DGAP-News: QSC AG / Key word(s): Quarter Results
QSC gets off to fiscal 2012 as planned
07.05.2012 / 07:30
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QSC gets off to fiscal 2012 as planned
- New orders of EUR 36.4 million in Direct Sales
- Revenues advance to EUR 116.0 million in first quarter of 2012
- EBITDA reaches EUR 17.5 million
- Guidance reiterated for full 2012 fiscal year
- QSC investing in growth for the coming years
Cologne, May 7, 2012. QSC AG started fiscal 2012 as planned, making
progress in its transformation process into an ICT provider. The company
brought to market its first entirely self-developed Cloud product with the
cospace communications platform, broadened its sales partner network by
more than 20 prominent IT players and won requests for proposals for
numerous large ICT projects.
ICT revenues up sharply in Direct Sales
Revenues rose by 10 percent to EUR 116.0 million in the first quarter of
2012, compared to EUR 105.1 million for the corresponding quarter one year
earlier. Progress in the transformation process is illustrated by the
differing development of the business units. The Resellers Business Unit,
which accounts to a large extent for conventional TC revenues, saw its
revenues decline by 15 percent to EUR 45.2 million during the past quarter.
ICT revenues in Direct Sales, on the other hand, advanced by 78 percent to
EUR 42.1 million as a result of the consolidation; QSC had acquired the
majority interest in INFO AG on May 2, 2011. Revenues in the third business
unit, Indirect Sales, improved moderately to EUR 28.8 million, compared to
EUR 28.0 million in the first quarter of 2011.
Rising revenues and a strong level of new orders, most of them having a
term of three to five years, and a volume of EUR 36.4 million in the first
quarter of 2012 necessitated expansion of the workforce, especially in IT
Outsourcing and IT Consulting. Overall, the QSC Group employed a workforce
of 1,366 people as of March 31 of the current fiscal year. Moreover, the
major success that Direct Sales is achieving necessitated the temporary
employment of external IT specialists. The costs this involved, together
with the costs that are necessary for operating two fully functional
headquarters of publicly traded corporations since the acquistion of INFO
AG, as well as ongoing integration costs, pushed EBITDA down to EUR 17.5
million, in contrast to EUR 20.5 million in the especially profitable first
quarter of 2011.
EBIT reached EUR 4.0 million, as opposed to EUR 8.1 million the year
before, while consolidated net profit totaled EUR 2.3 million, compared to
EUR 6.5 million for the same quarter one year earlier. 'These results are
right in line with our expectations,' notes QSC Chief Executive Officer Dr.
Bernd Schlobohm. '2012 is a year of preparation in order to achieve the
full strength and power of the QSC Group. These preparations involve direct
costs, such as the costs of greater collaboration within the Group and the
development of new products and services, while the revenues will not be
generated until later.'
These preparations also include expansion of data center capacities; during
the first quarter of 2012, the company opened another highly-modern data
center in Munich on 5,000 square meters of floor space. Consequently,
capital expenditures rose to EUR 8.7 million in the first quarter of 2012,
in contrast to EUR 6.4 million for the same quarter one year earlier. Free
cash flow reached EUR 5.8 million in the first quarter of 2012, enabling
the QSC Group to reduce its net debts by 18 percent within three months to
EUR -27.3 million.
QSC continues to anticipate revenues of between EUR 480 and EUR 510 million
for 2012
In view of the fact that QSC started the fiscal year as planned, the
company is reiterating its guidance for the full 2012 fiscal year that it
had announced in early March: QSC anticipates revenues of between EUR 480
and EUR 510 million, an EBITDA margin of at least 16 percent and a free
cash flow of between EUR 22 and EUR 32 million. The QSC Group views the
current fiscal year as a year of preparation in order to achieve its full
strength and power and to drive the integration of subsidiary INFO AG. At
the same time, the company is targeting its investments toward growth in
subsequent years. One focal point of activities, in addition to expanding
the workforce and winning new IT sales partners, is the in-house
development and marketing of Cloud-based products; the company plans to
bring a total of four to six products to market by year-end.
In EUR million Q1 2012 Q1 2011Queries to:
Revenues 116.0 105.1
EBITDA 17.5 20.5
EBIT 4.0 8.1
Consolidated net profit 2.3 6.5
Free cash flow 5.8 21.9
CAPEX 8.7 6.4
Workforce 1,366 656
QSC AG
Arne Thull
Head of Investor Relations
Phone: +49 221 6698-724
Fax: +49 221 6698-009
E-mail: invest(at)qsc.de
Internet: www.qsc.de
Notes:
The 3-month report is available for download at
www.qsc.de/en/qsc-ag/investor-relations.html. 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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07.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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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
Indices: TecDAX
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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