QSC AG / Quarter Results
19.11.2008
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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QSCs profitability up sharply in the third quarter of 2008
Cologne, November 19, 2008. QSC today presented its 9-Month Report, which
does not contain any material changes from the preliminary results that
were announced on November 5, 2008.
In the third quarter of 2008, QSC grew its revenues by 25 percent to
103.6 million, in spite of a weaker economy. Network expenses rose by 21
percent over the third quarter of 2007 to 70.3 million, as QSC is now
operating a considerably larger network following the conclusion of the
network expansion project in mid 2008. At 10.8 million selling and
marketing costs were below the previous years level of 12.1 million, as
were general and administration costs, which amounted to 4.7 million in
the third quarter of 2008, as opposed to 6.6 million for the comparable
period the year before. These cost declines were primarily attributable to
heightened cost discipline as well as to the companys ability to achieve
synergies following the registration of the Broadnet merger in late October
2007. QSC then concentrated the two administrations at the Cologne
location, consolidated all sales offices and largely eliminated overlaps at
the network level. As of September 30, 2008, the company employed a
workforce of 696 people, as opposed to 774 on the same date the year
before.
Together with profitable revenue growth, QSCs improved cost position in
the third quarter of 2008 boosted EBITDA by 147 percent to 18.3 million.
At the same time, the company returned to the profitability zone, earning
after-tax net income of 2.1 million, as opposed to a net loss of -4.7
million for the same quarter the year before.
In view of this highly positive development in the third quarter of 2008,
QSC Chief Executive Officer Dr. Bernd Schlobohm views the company as being
relatively well equipped to handle a recession: 'Our products and services
increase the productivity of organizations and should therefore continue to
remain in demand in 2009, as well. Moreover, QSCs cost position has
improved significantly over the course of the past twelve months. I am
confident that we will be able to further increase our profitability in the
coming quarters, as well.'
QSC is expressly reiterating is guidance for the full 2008 fiscal year. The
company anticipates revenues of more than 405 million and an EBITDA of
more than 60 million. Moreover, QSC is also aiming for a break-even
after-tax net result.
Queries to:
QSC AG
Arne Thull
Investor Relations
Fon: +49 221 66 98-724
Fax: +49 221 66 98-009
E-mail: invest@qsc.de
Notes:
The complete 9-months report is available under
http://www.qsc.de/en/investor-relations.html. 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 19.11.2008
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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: QSCs profitability up sharply in the third quarter of 2008
| Source: EQS Group AG