QSC AG (FRA:QSC) Lünendonk study: q.beyond is one of ten fastest-growing IT service providers in Germany

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31/08/2021 12:00

DGAP-News: q.beyond AG / Key word(s): Study results
Lünendonk study: q.beyond is one of ten fastest-growing IT service providers in Germany

31.08.2021 / 12:00
The issuer is solely responsible for the content of this announcement.

Lünendonk study: q.beyond is one of ten fastest-growing IT service providers in Germany

- Strong ranking underlines success of "2020plus" growth strategy
- q.beyond's portfolio meets current needs of IT users
- Survey of users reveals growth opportunities for broadly based IT service providers like q.beyond

Cologne, 31 August 2021 - q.beyond AG was one of Germany's ten fastest-growing IT service providers in 2020. That is one of the findings of the new Lünendonk study: "The IT Consulting and IT Service Market in Germany". At 13 percent, q.beyond's revenue growth was more than twice as high as the average across all study participants (+ 4.9 percent). This strong growth also reinforced q.beyond's position as one of Germany's top ten IT service companies.

Jürgen Hermann, q.beyond's CEO, attributes the company's disproportionate revenue growth in 2020, the year of the pandemic, to the consistent implementation of its "2020plus" growth strategy: "We concentrate on select focus sectors and cover the whole digital value chain with our Cloud, SAP and IoT expertise. This way, our customers can exploit the full potential of digitalisation."

Digital workplaces in demand

Digitalisation received yet another boost during the coronavirus pandemic. This is the finding of a user survey in the Lünendonk study. According to this, 69 percent of those surveyed are attaching greater priority to pressing ahead with their digitalisation and are focusing more clearly on this. Key priorities include digital workplaces and building and expanding digital business models. These are areas on which q.beyond was early to focus and which decisively contributed to its strong growth in 2020.

q.beyond's portfolio also covers users' key investment focuses for the current year and beyond. Among others, these include modernising IT, cybersecurity and cloud transformation. Some 70 percent of those surveyed plan to further increase their cloud computing budget in 2022. The main focus here is on hybrid cloud solutions, such as those q.beyond already operates for numerous customers.

Moreover, q.beyond also acts early to respond to trends emerging in the market. At present, for example, there is growing demand for software development projects, with a particular interest in cloud-native solutions. Here, q.beyond deliberately strengthened its resources last year by taking over the software engineering specialist Incloud and now employs well over 100 software experts.

q.beyond's broad-based approach meets market needs

q.beyond's broad-based and forward-looking structure is increasingly becoming a competitive advantage in the German IT service provider market. In the Lünendonk study, 59 percent of users stated that in future they basically intend to work with full-service providers who have broad portfolios and offer end-to-end project management.

Jürgen Hermann draws positive conclusions: "We are superbly positioned to grow faster than the market in the years ahead as well." The company has planned double-digit revenue growth to between € 160 million and € 170 million in 2021 and intends to generate revenues of € 200 million in the coming year. q.beyond will maintain its growth course in the years after 2022 as well. As Jürgen Hermann puts it: "Our success story has only just begun."

The complete Lünendonk study for 2021 "The IT Consulting and IT Service Market in Germany" can be downloaded free of charge from q.beyond at the following link: https://r.qbeyond.de/luenendonk-2021

About q.beyond AG:
q.beyond AG is the key to successful digitalisation. We help our customers find the best digital solutions for their business and then put them into practice. Our strong team of 1,000 people accompanies SME customers securely and reliably throughout their digital journey. We are experts in Cloud, SAP and IoT.
q.beyond AG resulted from the rebranding of QSC AG in September 2020. With nationwide locations and its own certified data centres, it is one of Germany's leading IT service providers.

q.beyond AG

Arne Thull
Head of Investor Relations/Mergers & Acquisitions
T +49 221 669 8724

31.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: q.beyond AG
Mathias-Brüggen-Straße 55
50829 Cologne
Phone: +49-221-669-8724
Fax: +49-221-669-8009
E-mail: invest@qbeyond.de
Internet: www.qbeyond.de
ISIN: DE0005137004
WKN: 513700
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1230067

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1230067  31.08.2021