q.beyond AG (QSCGF.PK), a German IT company, reported Monday that its second-quarter consolidated net loss narrowed to 0.8 million euros from last year's loss of 2.7 million euros.
Quarterly EBIT improved to negative 1.0 million euros from last year's negative 2.3 million euros. EBITDA was 2.2 million euros, significantly higher than 1 million euros a year ago, thanks to consistent implementation of its "2025 Strategy", despite the ongoing weak economic climate.
Revenues climbed to 47.3 million euros from 46.4 million euros a year ago.
Looking ahead for fiscal 2024, the company continues to expect EBITDA to rise by at least 40 percent to between 8 million euros and 10 million euros, and revenues between 192 million euros and 198 million euros.
Further, for fiscal 2025, the company intends to generate positive consolidated net income, accompanied by an EBITDA margin of 7 percent to 8 percent.
CEO Thies Rixen said, "q.beyond is very well on course to meet the ambitious targets set in the 2025 Strategy. As our earnings and financial strength grows, we are also creating a solid basis, in particular to sustainably increase the company's value."
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