Brief: Solocal Group Q1 Revenue Down -8% To EUR 93.3 Mln

Solocal SE

27/04/2023 06:44

April 27 (Reuters) - Solocal Group SA  LOCAL.PA :
    * Q1 REVENUE OF €93.3 MILLION I.E -8.0% VERSUS. Q1 2022
    * STABLE ORDER BACKLOG AT 221.7 MILLION € AS AT 31TH MARCH
2022
    * FY REVENUE EUR 400 MILLION , I.E -6.6% VERSUS. 2021
    * FY RECURRING EBITDA DOWN TO €115 MILLION, I.E. -4.6%
VERSUS.
2021
    * END-MARCH STABLE ARPA AT C. 1,340 € (VERSUS C. 1,345 AS AT
31
DECEMBER 2022)
    * €70.8 MILLION OF CASH ON BALANCE SHEET AS AT 31ST DECEMBER
2022
    * NET FINANCIAL DEBT OF €171 MILLION AS AT 31ST DECEMBER
2022 WITH
A LEVERAGE RATIO OF 1.7X
    * OUTLOOK: EXPECTS REVENUE IN COMING  QUARTERS TO BE IN LINE
WITH
REVENUE OF FIRST QUARTER OF 2023 (EUR 93.3 MILLION), BELOW 2022
    * OUTLOOK: IN 2023, THE GROUP WILL CONTINUE COST CONTROL
EFFORTS
TO MAINTAIN AN EBITDA MARGIN BETWEEN  20% & 25%
    * Q1 DECREASE IN CUSTOMER BASE (281K CUSTOMERS, VERSUS. 288K
AS AT
31 DECEMBER 2022) WITH INCREASE IN CHURN RATE TO 17.4% (16.6% AS
AT 31 DECEMBER 2022)
    * FY CONSOLIDATED NET LOSS GROUP EUR 3.3 MILLION VERSUS
PROFIT EUR
22.9 MILLION YEAR AGO

Source text for Eikon:  ID:nNDL5NVRTW 
Further company coverage:  LOCAL.PA 

 (Gdansk Newsroom)
 ((Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))