ecotel communication ag: ecotel gets off to a very good start in 2023
EQS-News: ecotel communication ag / Key word(s): Quarter Results
Düsseldorf, 9 May 2023
The start of the 2023 financial year went as well as planned for ecotel; accompanied by two non-routine effects, the key performance indicators were even exceeded.
As already announced in the Annual Report 2022, the nacamar segment was successfully incorporated to Uplink Digital GmbH on April 4, 2023. Additional to ecotel, shares to this new company are held by Uplink Network GmbH and Radio 5.0 GmbH, who in turn have also contributed their business operations to the joint company. In return, ecotel received an approximate 25% share in the joint Uplink Digital GmbH, as well as a cash settlement of EUR 1.3 million. The previous 100% share in nacamar GmbH will therefore no longer be fully included in the financial statements of ecotel communication ag.
Further usage rights of internet resources were sold in February 2023. After deduction of all costs associated with this transaction, the Group received approximately EUR 5.4 million, around EUR 4.0 million more than planned. By definition, this unplanned excess revenue will not be shown in the operational EBITDA, in order to enable better comparability with past periods.
On 21 April 2023, the Annual General Meeting approved the dividend proposal totalling EUR 18.82 per dividend entitled share. As a result, ecotel communication ag distributed a dividend of EUR 66.1 million. This distribution was made after 31 March 2023 and is therefore not yet included in the balance sheet figures.
Consolidated revenue from continued operations grew to EUR 28.6 million in the reported period (previous year: EUR 20.2 million). This increase was mainly driven by the ecotel Wholesale segment (+ EUR 8.3 million).
The core segment, ecotel business customers, also achieved a slight growth (EUR +0.1 million) in the first quarter of 2023. The project orders attained at the end of the previous year, are gradually becoming apparent in the revenue figures. The "cloud" and "fibre" marketing campaign was successfully initiated, not least due to the successful partner congress in mid-March.
Gross profit continued operations, increased by EUR 0.6 million to EUR 8.1 million in the first quarter. The ecotel Business Customers segment contributed significantly to this growth with EUR 0.6 million. In addition to lower expenses for energy and particularly the changes in the supply mix, achieved a positive and sustainable effect on profitability.
The growth investments planned for this year in sales and sales-supporting ressources as well as the development of new sales channels, are having the expected effect of increased personnel and operational expenses. At the same time, the Group was able to achieve additional income of EUR 7.3 million (previous year: EUR 2.2 million) due to the unscheduled effects explained above. Due to these effects, the adjusted EBITDA, increased to EUR 3.4 (previous year: EUR 2.2 million).
After deducting the amortisation (EUR -1.3 million), consideration of the financial result (EUR +0.4 million) and taxes (EUR -2.0 million), ecotel generated earnings of EUR 4.5 million (previous year: EUR 1.3 million) in the first quarter. This corresponds to earnings per share of EUR 1.29 (previous year EUR 0.37).
The Executive Board continues to adhere to the forecast for the 2023 financial year.
About ecotel communication ag:
ecotel communication ag has been operating nationwide since 1998 and has established itself as one of the leading quality providers for business customers. With it‘s focus on "cloud & fibre" since 2022, ecotel serves the two most important growth areas in the German telecommunications market. The company is headquartered in Düsseldorf. With around 225 employees, ecotel currently serves more than 15,000 customers nationwide with a full-service offering of cloud and broadband services.
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ecotel communication ag
+49 (0) 211-55 007 740
Further information available at www.ecotel.de
09.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
ecotel communication ag
+49 (0)211 55 00 70
+49 (0)211 55 00 7 222
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
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