NFON grows revenue and profitability in Q1

NFON has advanced with its reorganisation in Q1 2024, growing revenues by 2.2% to £21.2m.

It attributes growth to a 2% year-on-year increase of seats installed with customers to 658,544 in the first quarter of 2024. Revenue growth was also boosted by cross-selling activities.

This saw recurring revenue grow by 2.8% to €19.9 million, 93.6% of total revenue.

NFON’s EBITDA increased to €2.8m in the first three months of 2024, after €2.0 million in the same period of the previous year.

Patrik Heider, CEO and CFO of NFON, explains: “The current figures show that our strategy is effective. In the current year, we will continue to press ahead with the changes initiated with the goal of operational excellence, which will enable us to strengthen growth and especially profitability.”

For financial year 2024, the company plans growth in recurring revenue of a mid- to upper-single-digit percentage. The Management Board anticipates a share of recurring revenue of >90% of total revenue. Adjusted EBITDA is expected to amount to €10–12m.

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