on NFON AG
NFON AG Experiences Solid Growth and Profitability in H1 2024
NFON AG reported solid revenue growth and a significant boost in profitability for the first half of 2024. Recurring revenue rose by 4.4% to EUR 40.1 million, comprising 94.3% of total revenue. Adjusted EBITDA improved markedly by 62.3%, reaching EUR 5.5 million.
The company's strategic transformation included acquiring new customers and increasing installed seats by 3.8%. The successful sales of their expanded product portfolio also contributed to revenue growth.
NFON focused on operational efficiency, appointing Andreas Wesselmann as CTO and finalizing the merger with Deutsche Telefon Standard GmbH. This consolidation aims to leverage synergies and enhance profitability.
Additionally, the acquisition of botario GmbH in August 2024 strengthened NFON's position in AI-based business communication solutions. This move aligns with NFON's goal of maximizing revenue and future growth.
The Management Board confirmed the 2024 revenue and earnings forecast, expecting recurring revenue growth in the mid to upper single-digit percentage range and adjusted EBITDA of EUR 10-12 million.
R. P.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all NFON AG news