Ecotel communication ag: transfer of rights to use Internet resources successfully completed

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DGAP-News: ecotel communication ag / Keyword(s): Contract/Declaration

ecotel communication ag: transfer of rights to use Internet resources successfully completed

06.07.2022 / 09:39
The issuer is solely responsible for the content of this announcement.

  • Non-recurring revenue of 14.9 million euros before tax achieved
  • Additional consolidated profit of approx. 10.5 million euros or additional earnings per share (EPS) of approx. €3.00 expected in the current fiscal year

Dusseldorf, July 6, 2022

ecotel communication ag announces the successful conclusion of the transaction for the transfer of rights to use Internet resources. With this step, the contract mentioned in the ad-hoc report of June 4, 2022 was completed within the announced deadlines. After deduction of transaction costs, the one-time transaction proceeds amount to approximately 14.9 million euros before tax. This means that the consolidated profit for the 2022 financial year should be around €10.5 million higher than the initial forecast and that the earnings per share (EPS) will also increase by around €3.00.

The transaction was preceded by various network optimization projects over a period of approximately twelve months, during which resource management and systematic utilization were optimized.

This resulted in the transfer of approximately 300,000 Internet resources, which will no longer be needed for long-term business operations. With the completion of the transfer, ecotel communication ag still has around 750,000 resources, of which around half are currently allocated to the operation of the network infrastructure and to customers of the ecotel group. The company is currently evaluating whether further usage optimizations are possible and how much Internet resources are needed for future growth.

The Management Board is currently reviewing the Group’s strategy and plans to present the new strategy in the coming months.

About ecotel communication sa:
The ecotel group (hereinafter “ecotel”), present throughout Germany since 1998, specializes in the marketing of IT and telecommunications solutions in various segments. The parent company is ecotel communication ag with headquarters in Düsseldorf. Including its subsidiaries and holding companies, ecotel has a total of approximately 300 employees. Currently, ecotel serves over 50,000 customers nationwide, providing 55,000 data connections and over 440,000 voice channels.

To note:
This publication does not constitute an offer to sell or an invitation to purchase or subscribe for securities. This publication is not a securities brochure. This publication and the information it contains are not intended for direct or indirect distribution to or within the United States of America, Canada, Australia or Japan.

Investor Relations
ecotel communication ag
Investor Relations
+49 (0) 211-55 007 740
Email: [email protected]

For more information, visit www.ecotel.de

06.07.2022 Broadcast of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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