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PRESS RELEASE: 11880 Solutions AG looks back at 2019: - Revenue up 11 percent to EUR 47.7 million - EBITDA rises to EUR 2.8 million - Highest digital customer growth in the Company's history - Revenue growth in Directory Assistance segment

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DGAP-News: 11880 Solutions AG / Key word(s): Annual Results
11880 Solutions AG looks back at 2019: - Revenue up 11 percent to EUR 47.7
million - EBITDA rises to EUR 2.8 million - Highest digital customer growth
in the Company's history - Revenue growth in Directory Assistance segment

2020-03-26 / 08:00
The issuer is solely responsible for the content of this announcement.

Essen, 26 March 2020 11880 Solutions AG today announced that it grew its
revenue by 11 percent to EUR 47.7 million in the 2019 financial year (2018:
EUR 42.9 million). Consolidated EBITDA improved significantly to EUR 2.8
million (2018: EUR 1.0 million). The Company recorded its highest-ever
customer growth in the Digital segment, with 7,368 small and medium-sized
companies choosing a 11880.com online package. The business had 38,666
paying customers as of 31 December 2019.

The Company generated revenue of EUR 34.6 million in the Digital segment
(2018: EUR 30.3 million), thus exceeding the guidance of EUR 30.0 to 34.0
million issued at the start of the year.

In the Directory Assistance segment, the Company recorded moderate growth
for the first time in ten years with revenue of EUR 13.0 million (2018: EUR
12.6 million). This positive performance was primarily attributable to
rising customer figures in the call centre third-party business. 11880
Solutions AG successfully established this line of business three years ago
to offset declining call volumes to the 11880* directory assistance service.

While the Company's financial results for 2019 provide impressive
confirmation of its successful operating performance, there were also
further improvements to its cost structure. The general administrative
expenses of 11880 Solutions AG fell once again by 15.8 percent to EUR 8.0
million in 2019 (2018: EUR 9.5 million).

"2019 was a very successful year, even though we have by no means reached
the end of our journey," says Christian Maar, CEO of 11880 Solutions AG.
"Having completely revamped our product portfolio in both business segments
in recent years, our aim now is to add as much value as possible to our
products for the benefit of our customers. This includes the need to
introduce a new Company-wide IT structure and the development of new
intelligent SEO measures to help our customers market themselves online even
more efficiently. In short, there is still plenty to do. After all, as well
as achieving sustainable profitability, we also want to grow successfully."

11880 Solutions AG expects consolidated revenue between EUR 47.8 and EUR
51.0 million and EBITDA between EUR 1.7 and EUR 3.2 million for the current
2020 financial year.

The 2019 Annual Report of 11880 Solutions AG is available at:

https://ir.11880.com/finanzberichte [1]

Contact:
Anja Meyer
11880 Solutions AG
Tel.: 0201 / 8099-188
E-Mail: anja.meyer@11880.com

2020-03-26 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: 11880 Solutions AG
Hohenzollernstraße 24
45128 Essen
Germany
Phone: 0201-80990
E-mail: info@11880.com
Internet: www.11880.com
ISIN: DE0005118806, DE0005118806, ,
WKN: 511880, 511880
Indices: Prime All Share
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1007373

End of News DGAP News Service

1007373 2020-03-26


1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=6359c674d5782424afbae149f7a4433d&application_id=1007373&site_id=vwd&application_name=news


(END) Dow Jones Newswires

March 26, 2020 03:00 ET ( 07:00 GMT)
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