123fahrschule Closes First Half-Year with Positive EBITDA

Cologne, September 30, 2024 - 123fahrschule SE, a digitally driven driving school chain in Germany focusing on e-learning, reports a positive first half of 2024. Sales increased to EUR 11.1 million, compared to EUR 10.4 million in the previous year. The company also saw a significant rise in operating cash flow to TEUR 887, up from TEUR -73.

123fahrschule achieved an EBITDA of TEUR 132 for the first half, though this figure is not directly comparable to last year's TEUR 197 due to accounting changes. Adjusted Group EBITDA, excluding these changes, would have been around TEUR 500. The Management Board remains optimistic, expecting an Adjusted Group EBITDA of around EUR 1 million for the full year.

Additionally, the Federal Ministry for Digital and Transport has invited industry representatives to an event on October 14, 2024, to discuss amendments to driving school training. Results will be shared with shareholders via video conference.