q.beyond confirms preliminary results: revenues grow by 8% in Q3 2022
Cologne, 7 November 2022. As reported on 26 October, in a quarter marked by great economic uncertainty q.beyond increased its revenues by a further 8% to
SAP business set to return to profitable growth course
q.beyond has a strong market position, particularly in its cloud business, and is continually extending its head start. In recent quarters, the company has, among other moves, extended its hybrid cloud expertise and to this end established a proprietary Cloud Competence Center with around 150 experts. Due not least to this, revenues in the “Cloud & IoT” segment grew year-on-year by 18% to € 35.3 million in the past quarter. Following realignment, the second segment, “SAP”, will also return to a course of profitable growth in the coming year. In the third quarter of 2022, revenues here amounted to € 7.9 million compared with € 10.0 million in the previous year’s period.
Net liquidity of € 42.5 million
Based on revenues of € 43.1 million, EBITDA came to € 1.7 million in the third quarter of 2022 while the free cash flow stood at € -1.7 million. The previous year’s figures of € 29.4 million for EBITDA and of € 3.6 million for the free cash flow were significantly influenced by the successful sale of the colocation business in that quarter. With net liquidity of € 42.5 million and virtually no debt, the company is also very well financed for a more prolonged economic downturn.
For the current financial year, the company has budgeted revenues of between
Key figures at a glance
|€ million||Q3 2022||Q3 2021|
|- Cloud & IoT||35.3||30.0|
|Consolidated net income||(2.8)||20.7|
|Free cash flow||(1.7)||3.6|
|Equity ratio at 30 September||76%||75%|
|Employees at 30 September||1,127||1,037|
* Including impact of colocation sale.
This Corporate News contains forward-looking statements that are based on current expectations and forecasts on the part of the management with regard to future events. Due to risks or erroneous assumptions, actual results may deviate materially from these forward-looking statements. The complete Quarterly Statement is available at www.qbeyond.de/en/investor-relations.
About q.beyond AG
q.beyond AG is the key to successful digitalisation. We help our customers find the best digital solutions for their business and then put them into practice. Our strong team of 1,100 people accompanies SME customers securely and reliably throughout their digital journey. We are experts in Cloud, SAP and SaaS. With nationwide locations and its own certified data centres, q.beyond is one of Germany’s leading IT service providers.
Head of Investor Relations/Mergers & Acquisitions
T +49 221 669 8724
Head of Investor Relations / Mergers & Acquisitions
T +49 221 669-8724
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