11880 Solutions AG Reports 2023 Financial Results with Positive Cash Flow

11880 Solutions AG, the Essen-based company, announced its financial results for the fiscal year 2023, indicating a positive operating cash flow and an increase in profitability despite challenging economic conditions. The company reported a slight revenue increase to EUR 57.1 million from EUR 56.0 million in 2022. The digital business contributed EUR 44.8 million, while the directory assistance segment accounted for EUR 12.3 million, with a notable decline in call volume by 25%.

The company's Group EBITDA improved to EUR 2.6 million in 2023 from EUR 2.4 million the previous year. This rise was driven mainly by the digital segment, which saw EBITDA increase to EUR 2.6 million. The success of the fiscal year was attributed to strategic focus on higher order volumes and new customer acquisition in the call center services business, alongside enhancements in product and service offerings through AI solutions.

Looking ahead, 11880 Solutions AG is optimistic about 2024, projecting revenue between EUR 54.3 million and EUR 60.0 million, and EBITDA ranging from EUR 3.1 million to EUR 4.6 million. The company's focus will remain on the enhancement of its major rating search engine and the development of AI solutions to boost business efficiency and customer satisfaction.