NFON AG: NFON AG adjusts 2019 forecast for total revenue and seats

Ad hoc announcement

NFON AG adjusts 2019 forecast for total revenue and seats

Munich, October 25, 2019 - Based on the preliminary figures for the first nine months of 2019, the Management Board of NFON AG has adjusted its 2019 full-year forecast for total revenue and seats. NFON AG generated total revenue of EUR 41.5 million in the 2019 reporting period (9M 2018: EUR 31.3 million). Recurring revenues increased by 38% to EUR 35.0 million (9M 2018: EUR 25.3 million); this equates to 85% of total revenues for the reporting period. The number of customer-operated extensions (seats) increased by 41% (9M 2019: 431,935 seats / 9M 2018: 305,616 seats). Nevertheless, the development of seats fell short of planning, partly due to postponements. As a direct consequence, the targeted revenue level for non-recurring revenues that result from the one-time activation fees for the commissioning of the seats and the hardware revenues could not be achieved. These amounted to EUR 6.4 million in the first nine months of 2019 (9M 2018: EUR 6.0 million).

For the year 2019 as a whole, NFON AG is therefore now planning growth in seats of between 39% and 41%. This results in expected total revenue growth of between 30% and 33% compared to the previous year with a share of recurring revenues of between 80% and 85% (previous forecast: revenue increase of 40% to 45% compared to the previous year, albeit at the lower end of the range and seat growth of at least 45%).

Investor Relations Contact

NFON AG
Sabina Prüser
Head of Investor Relations
+49 89 45300 134
sabina.prueser@nfon.com

Media Contact

NFON AG
Thorsten Wehner
Vice President Public Relations
+49 89 45300 121
thorsten.wehner@nfon.com

Disclaimer

This communication is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities of the Company. The securities discussed herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act. There will be no public offering of the securities discussed in this release in the United States of America and the information contained in this release does not constitute an offer of securities for sale. This announcement is not for distribution, publication or transmission, directly or indirectly, to or within the United States of America, Australia, Canada, Japan or any other jurisdiction in which such distribution is unlawful, or to U.S. persons.