Q.beyond Achieves Positive Free Cash Flow Ahead of Schedule

On March 11, 2024, q.beyond AG reported significant financial achievements for the year 2023, outperforming expectations by generating a positive free cash flow one year earlier than anticipated. The company's preliminary results indicate a substantial improvement in free cash flow to €1.7 million, up by €11.4 million from the previous period. This early success aligns with the strategic milestones set in q.beyond's "2025 Strategy" introduced in spring 2023.

q.beyond also reported revenue growth, with a 9% increase to €189.3 million and a 6% growth in EBITDA, reaching €5.7 million. These figures meet the company’s targets and signify a strong performance amid restructuring efforts. The company aims for even higher profitability in 2024, expecting EBITDA between €8 million to €10 million, and sustained revenue growth.

The positive trend extends across q.beyond's services. The cloud services sector saw a 9% rise in revenues while the SAP business sector outperformed with a 13% increase. Further efficiency measures and strategic shifts, including an emphasis on nearshoring and offshoring, are anticipated to bolster performance in the coming years.

As part of the 2025 Strategy, q.beyond prioritizes profitability, aiming for significant earnings growth and financial strength. The company's efforts seem on track, with a focus on enhancing efficiency and leveraging technologies like artificial intelligence for improved operational capabilities.