Q.beyond AG Reports EBITDA Increase in Q1 2024

q.beyond AG, based in Cologne, announced a significant rise in EBITDA for Q1 2024, reaching €2.0 million, a substantial improvement from a €1.3 million loss in Q1 2023. This financial uplift occurs alongside a slight revenue increase from €46.6 million to €47.1 million. The company highlighted this performance as a strong start to 2024.

The improvement in EBITDA is part of the company's ongoing "2025 Strategy", aimed at enhancing profitability through process simplification and expanding nearshoring and offshoring activities. The IT service provider also reported a marginal increase in free cash flow to €0.6 million and a net liquidity boost to €38.2 million.

Aside from financial metrics, q.beyond also improved its gross profit margin within its Managed Services and Consulting segments, indicating successful operational adjustments and a strategic focus on higher margin areas. The company remains optimistic about the future, expecting an EBITDA of €8 million to €10 million for 2024 while targeting a further increase in profitability by 2025.