Q.beyond Q2 Loss Narrows, Revenues Rise; Lifts FY21 EBITDA View; Sees Growth In FY22

German Cloud and ICT provider QSC AG (QSCGF) reported Monday that its second-quarter consolidated net loss was 3.4 million euros, narrower than prior year's loss of 5.1 million euros.

EBITDA was 1.2 million euros in the second quarter, compared to prior year's loss of 0.8 million euros.

Revenues grew 12 percent to 38.8 million euros from prior year's 34.5 million euros.

Quarterly new orders more than doubled year-on-year to 87.5 million euros.

Volume of new orders received in the first half surged 67 percent to 116.3 million euros.

q.beyond's CEO, Jürgen Hermann, said, "Our business is growing dynamically despite the pandemic. We now expect a strong second half of 2021."

q.beyond raised its EBITDA forecast for the 2021 financial year, and now expects to report EBITDA of between 8 million euros and 13 million euros, compared to previous forecast of 5 million euros to 10 million euros.

The outlook is based on unchanged growth in revenues to 160 million euros to 170 million euros.

Free cash flow is expected between negative 2 million euros and positive 3 million euros. The previous forecast was negative 10 million euros to negative 5 million euros.

For 2022, the company has budgeted revenues of 200 million euros, an EBITDA margin of more than 10 percent and a sustainably positive free cash flow.

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