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QSC AG
Earnings Release • Sep 17, 2021
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Earnings Release
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News Details
Ad-hoc | 17 September 2021 18:58
q.beyond sells colocation subsidiary IP Exchange for € 44 million
q.beyond AG / Key word(s): Disposal/Forecast
q.beyond sells colocation subsidiary IP Exchange for € 44 million
17-Sep-2021 / 18:58 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
q.beyond sells colocation subsidiary IP Exchange for € 44 million
Cologne, 17 September 2021 – q.beyond AG is selling IP Exchange GmbH, its wholly-owned subsidiary, for around € 44 million (enterprise value) to NorthC Group Deutschland GmbH, a company of the Dutch data centre operator NorthC Group. By making this acquisition, NorthC Group is expanding into the German market. q.beyond is in turn definitively exiting its colocation business in Munich and Nuremberg. IP Colocation GmbH was successfully sold at the end of July 2021 already. Having successfully sold its colocation business, which generated quarterly revenues of around € 5 million, q.beyond has updated its full-year forecast for the 2021 financial year. Based on figures adjusted to account for the transaction, the company now expects revenues of between € 155 million and € 165 million (previously: between € 160 million and € 170 million). Following an initial assessment of the deconsolidation effects, it now expects to achieve EBITDA of at least € 27 million in the 2021 financial year (previously: between € 8 million and € 13 million). Taking due account of transaction costs and taxes, the company is also raising its free cash flow forecast for the 2021 financial year, as already after the IP Colocation sale, in this case to at least € 33 million (previously: between € -2 million and € +3 million).
Notes
This ad-hoc announcement contains forward-looking statements that are based on current expectations and forecasts on the part of the management of q.beyond AG with regard to future events. Due to risks or erroneous assumptions, actual events may deviate materially from these forward-looking statements. Explanations of the key financial figures used can be found in the 2020 Annual Report of q.beyond AG (available at https://www.qbeyond.de/en/ir-publications ).
**Contact
q.beyond AG**
Arne Thull
Head of Investor Relations/Mergers & Acquisitions
T +49 221 669-8724
17-Sep-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | q.beyond AG |
| Mathias-Brüggen-Straße 55 | |
| 50829 Cologne | |
| Germany | |
| Phone: | +49-221-669-8724 |
| Fax: | +49-221-669-8009 |
| E-mail: | [email protected] |
| Internet: | www.qbeyond.de |
| ISIN: | DE0005137004 |
| WKN: | 513700 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1234356 |
| End of Announcement | DGAP News Service |