11880 Solutions AG underlines turnaround in the first quarter of 2024: EBITDA significantly increased

Essen, 7 May 2024 – 11880 Solutions AG generated EBITDA of EUR 0.9 million in the first quarter of the 2024 financial year (Q1 2023: EUR 0.2 million). At EUR 14.1 million, sales were at the previous year's level (Q1 2023: EUR 14.5 million).

"We have continued the course we set last year in 2024," explains Christian Maar, CEO of 11880 Solutions AG. "A clear focus on our successful products, higher customer quality, and significantly greater efficiency in our internal processes are leading us to sustainable profitability."

The Digital Business generated revenue of EUR 11.1 million in the first three months of 2024 (Q1 2023: EUR 11.4 million), while EBITDA in this segment totaled EUR 1.0 million (Q1 2023: EUR 0.4 million). In the Directory Assistance segment, the market-related decline in call volume was largely offset by call center services, with the result that revenue in the first quarter of 2024 amounted to EUR 3.0 million (Q1 2023: EUR 3.2 million). At minus 0.1 million euros, EBITDA in this segment in the reporting period was at previous year's level (Q1 2023: -0.1 million euros).

"We will continue our efficiency program in the coming quarters. At the same time, we are continuing to develop our operating business. Our new product for valuation management, which has enabled corporate customers to actively collect and manage important valuations from their customers since the beginning of the year, has been very well received on the market," says Christian Maar. "In the second quarter of the current financial year, we will also increase the use of AI solutions in various areas. In the Directory Assistance business area, for example, more and more corporate customers are interested in our 11880-voice bot, while at werkenntdenBESTEN we categorize reviews with the support of AI, searching for the right provider faster and more convenient for users."

The interim statement for Q1 2024 of 11880 Solutions AG is available for download at: https://ir.11880.com/finanzberichte

Contact:
Anja Meyer
11880 Solutions AG
Tel.: 0201 / 8099-188
E-Mail: anja.meyer@11880.com