Ecotel Communication AG Reports First Quarter 2024 Financial Results

Ecotel Communication AG disclosed its financial performance for the first quarter of 2024 today, showing a steady operational start to the year. The company reported a slight increase in B2B sales, totaling EUR 11.5 million, a marginal increase from the previous year's EUR 11.4 million. However, total sales saw a slight dip to EUR 28.1 million compared to EUR 28.6 million in the previous year. Gross profit remained stable at EUR 8.1 million.

The company's operating EBITDA for the quarter was EUR 1.8 million, down from EUR 3.4 million in the corresponding quarter last year. This decline is attributed to the investment in new major projects, expected to boost sales growth in upcoming quarters. Additionally, the EBIT, influenced by non-recurring items from the previous year, marked a decrease, positioning at EUR 0.4 million compared to EUR 5.6 million the previous year.

Despite these challenges, the management remains optimistic about achieving stronger performance as the year progresses, supported by anticipated growth in cloud communication and intelligent broadband solutions targeting corporate customers.