German telecommunications provider QSC AG (QSCGF.PK) Monday reported a significant increase in profit for the first quarter, amid strong growth of its ICT business as well as temporarily higher demand for IP-based voice products.
First-quarter consolidated net income surged to 5.1 million euros from 2.3 million euros in the same quarter last year.
Earnings Before Interest, Tax, Depreciation and Amortization, or EBITDA, rose to 18.9 million euros from last year's 17.5 million euros.
EBITDA margin improved by 2 percentage points to 17 percent.
EBIT advanced to 6.3 million euros from 4.0 million euros.
Revenues for the quarter declined to 113.0 million euros from 116.0 million euros in the prior year due to regulatory effects.
According to the company, predominantly conventional TC revenues with resellers decreased 29 percent to 31.9 million euros as a result of regulatory and market effects, but there was a rise in ICT revenues in the two other business units.
QSC reiterated its guidance for full fiscal year. The company is planning an EBITDA margin of at least 17 percent and revenues of at least 450 million euros.
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