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QSC Q3 Net Profit Down, EBIT Rises; Backs FY EBITDA View, Lifts Revenue Forecast

(RTTNews) - German Cloud and ICT provider QSC AG (QSCGF) reported Monday that its third-quarter consolidated net income plunged to 0.3 million euros from last year's 1.5 million euros. The results reflected a significantly higher tax charge.

EBIT, however, increased to 2.3 million euros from 2.2 million euros last year. EBITDA remained flat at 9.1 million euros.

Revenues for the third quarter grew to 90.2 million euros from 88.9 million euros a year ago, with growth in all segments except Outsourcing.

For the nine-month period, revenues went up 4% to 276.4 million euros, and Cloud revenues surged 31%.

Looking ahead, for 2018, the Company now expects full-year revenues of at least 360 million euros, compared to previous forecast of at least at the upper end of the 345 million euros to 355 million euros range. Revenues are now expected to exceed the previous year's figure of 357.9 million euros.

Further, QSC still expects to generate EBITDA of 35 million euros to 40 million euros and free cash flow of more than 10 million euros.

QSC CEO JA 1/4 rgen Hermann said, "QSC is steering a growth course in 2018. We are particularly benefiting from great dynamism in our Cloud business and stronger demand for TC services. We therefore now expect significantly higher revenues than originally budgeted at the beginning of the year."
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