123fahrschule Achieves Record Sales in Q3 2024

123fahrschule SE, a digitally-focused driving school chain in Germany, posted record revenue of EUR 5.7 million for the third quarter of 2024, marking an 8% increase year-on-year. The company maintained its EBITDA development trajectory as planned, reporting a positive group EBITDA of EUR 255 thousand, or EUR 700 thousand when adjusted for one-off costs.

Operational cash flow in Q3 reached EUR 607 thousand, contributing to a cumulative EUR 1,493 thousand for the first three quarters, a significant improvement over the whole of 2023. The company is poised for further digital transformation, with planned simulator rollouts aimed at reducing training costs by up to EUR 1,000 per student. This move is expected to mitigate the anticipated shortage of driving instructors due to retirements.

To fund these initiatives, the management considers a convertible bond issuance of EUR 4-5 million. These investments are expected to benefit cash flow and profitability by 2026.