123fahrschule SE to Pursue Strategic Expansion with New Capital Increase

123fahrschule SE has announced its final H1 ’23 results, which align with preliminary figures released in July. The company plans a capital increase to support growth initiatives. H1 sales reached €11.1 million, marking a 5.9% year-over-year increase. The private customer segment contributed €8.5 million, driven by a 4.5% rise in registrations and price increases. The driving instructor training segment saw a substantial 22.6% increase in sales, amounting to €1.6 million.

Despite a slight decrease in H1 EBITDA to €0.1 million, adjusted EBITDA stands at €0.5 million, primarily due to accounting changes. For FY ‘24, the company expects positive EBITDA of around €0.4 million.

The planned capital increase involves issuing up to 430,000 new shares at €2.30 each, aiming to raise around €1 million. The funds will target expansion in Berlin, Hamburg, and Cologne. Management plans 20 new locations by FY '25, each equipped with driving simulators, projected to significantly enhance operational efficiency. Pending regulatory changes will allow learner drivers to complete up to 10 lessons on simulators, benefiting 123fahrschule's strategic positioning.