QSC AG / Half Year Results
20.08.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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QSC returns to the profitability zone this quarter / Submission of
Half-Year Report
Cologne, August 20, 2008. QSC today submitted its Half-Year Report; there
were no material changes to the preliminary results announced on August 11,
2008.
In the second quarter of 2008, QSC grew its revenues by 26 percent to
100.2 million. While expenses for the network, which had been significantly
expanded last year, rose by 37 percent to 69.3 million, selling and
marketing expenses in the amount of 10.8 million remained virtually
unchanged from the same quarter the year before, where this line item had
totaled 10.6 million; general and administrative expenses declined by 22
percent to 6.4 million. In addition to profitable revenue growth, QSCs
improved cost position also stemmed from the successful achievement of
synergies following the Broadnet merger. As a result, QSCs EBITDA rose by
30 percent to 14.2 million in the second quarter of 2008. The Company
still recorded a net loss of -1.5 million, as opposed to net income of
0.5 million for the second quarter of 2007; however, the company had
already improved its net result by 2.6 million over the first quarter of
2008.
Both in the second as well as in the current third quarter of 2008, QSC has
been benefiting from unabated strong demand in its Wholesale business. In
August 2008, QSCs network operating company Plusnet connected its
500,000th line and now numbers among the five largest unbundled local loop
procurers in Germany. And the company continues to generating rising
revenues with attractive margins in the Managed Services segment, as well.
QSCs Chief Executive Officer Dr. Bernd Schlobohm says: 'The good
development of our operating business in the second quarter has been
sustained. In the current quarter, QSC will grow revenues and EBITDA
further and cross the profitability threshold.'
Following the second increase in its guidance on August 11, 2008, QSC now
anticipates revenues of more than 405 million and an EBITDA of more than
60 million for the full 2008 fiscal year. At the same time, the company
is also aiming for a breakeven net result.
Queries to:
QSC AG
Arne Thull
Investor Relations
Fon: +49 221 6698-724
Fax: +49 221 6698-009
E-mail: invest@qsc.de
Internet: www.qsc.de
Notes:
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. The assumptions that may involve material
deviations due to unforeseeable developments include, but are not limited
to, the demand for our products and services, the competitive situation,
the development, dissemination and technical performance of DSL technology
and its prices, the development and dissemination of alternative broadband
technologies and their respective prices, changes in respect of
telecommunications regulation, legislation and adjudication, prices and
timely availability of essential third-party services and products, the
timely development of additional marketable value-added services, the
ability to maintain and enlarge upon marketing and distribution agreements
and to conclude new marketing and distribution agreements, the ability to
obtain additional financing in the event that management's planning targets
are not attained, the punctual and full payment of outstanding debts by
sales partners and resellers of QSC AG, and the availability of sufficient
skilled personnel.
DGAP 20.08.2008
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Language: English
Issuer: QSC AG
Mathias-Brüggen-Straße 55
50829 Köln
Deutschland
Phone: +49 (0)221 66 98-112
Fax: +49 (0)221 66 98-009
E-mail: invest@qsc.de
Internet: www.qsc.de
ISIN: DE0005137004
WKN: 513700
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Düsseldorf
End of News DGAP News-Service
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DGAP-News: QSC returns to the profitability zone this quarter / Submission of Half-Year Report
| Source: EQS Group AG