DGAP-News: NFON AG / Key word(s): Quarterly / Interim Statement/Quarterly / Interim Statement
NFON AG starts 2021 with momentum and sharpens its strategy to achieve further growth
- At 19.6%, recurring revenue grows faster than total revenue
- Number of seats up 16.0% compared to the previous year
- Average revenue per user (blended ARPU) at EUR 10.19 mainly thanks to increased voice minutes
- Adjusted EBITDA increased to EUR 1.8 million (previous year: EUR 0.2 million)
- Expansion of the partner network and additional products to accelerate the company's growth with new and existing customers in the years to come
- Forecast for 2021 confirmed
Munich, 20 May 2021 - NFON, a European provider of voice-centric business communications from the cloud, continues to grow in a market environment still characterized by COVID-19 at the beginning of 2021. Recurring revenue in particular showed a very positive development. It increased by 19.6% to EUR 16.8 million (previous year: EUR 14.1 million) and thus disproportionately to total revenue. As a result, recurring revenue accounted for 89.1% of total revenue (previous year: 85.8%). At 18.9 million euros, total revenue was 15.2% higher than the previous year's figure of EUR 16.4 million.
Key factors for the positive business development in the first three months of 2021 include the successful acquisition of new customers and the growth in installed extensions (seats) among its existing customer base. The number of seats was expanded to 541,973, representing growth of 16.0% compared to the prior-year reporting date (March 31, 2020: 467,253). Against the backdrop of continued pronounced working from home activity at companies and the corresponding increase in voice minutes, average revenue per user (blended ARPU) therefore increased significantly to EUR 10.19 in the first quarter of 2021 (previous year: EUR 9.88). The increased blended ARPU combined with lower expenses compared to the previous year, had a positive impact on the development of earnings. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR 1.6 million (previous year: EUR -0.1 million). Adjusted EBITDA amounted to EUR 1.8 million (previous year: EUR 0.2 million).
The good start to the current financial year gives Dr. Klaus von Rottkay, CEO of NFON AG, cause for optimism: "The market for business communications is currently in the third wave of disruption. For European enterprise customers in the small and medium-sized enterprise segment through to the enterprise segment, working in flexible working environments and hybrid working models consisting of working from home and office presence are becoming the new normal. Telephony, IT and Business Applications are growing together. The spoken word is and remains the primary communication channel between companies, customers and business partners and is at the core of our business model."
With Cloudya, NFON offers an efficient and flexible platform for professional voice-centric business communication, on which companies will be able to switch intuitively, easily and seamlessly between telephony and video conferencing in the future. The solutions and products in the areas of UCaaS, CCaaS and, in the future, iPaaS can also be flexibly adapted to the respective communication needs of customers and be individually combined.
"We want to become the leading provider of voice-centric business communications. We see ourselves in an excellent position to achieve this," von Rottkay adds. "We continue to develop our product portfolio around unified communication and contact centre solutions, while at the same time expanding our partner network and thereby strengthening the acquisition of new customers. This will accelerate our business growth in the coming years. Our broad product portfolio will also enable us to grow with our existing customers. We see great potential for the NFON Group in our young European markets in particular." For 2021, NFON is planning seat growth between 15% and 17% and a recurring revenue growth rate of between 14% and 16%. Recurring revenue is expected to account for more than 85% of total revenue.
Results for the first quarter of 2021 at a glance:
1 Based on average number of seats per month in each year
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About NFON AG
Headquartered in Munich, NFON AG is the European provider for voice-centric business communication from the cloud, counting more than 40,000 companies across 15 European countries as its customers. With Cloudya, NFON offers an easy-to-use, independent and reliable solution for advanced cloud business communications. Further premium and industry solutions complete the portfolio in the field of cloud communications. With our intuitive communications solutions, we enable European companies to improve their work a little every single day. https://corporate.nfon.com/de/
This announcement is not an offer of securities for sale in the United States of America. The securities of the Company 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 of America absent registration or an exemption from registration under the U.S. Securities Act. No public offering of securities of the Company is being made in the United States of America and the information contained herein does not constitute an offering of securities for sale in the United States of America, Canada, Australia, Japan or any other jurisdiction in which such offering would be unlawful. This announcement is not for release, publication or distribution directly or indirectly in or into the United States of America, Australia, Canada, Japan or any other jurisdiction in which the distribution or release would be unlawful or to U.S. persons.
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