NFON AG reports on strategic objectives at its Annual General Meeting

NFON AG reports on strategic objectives at its Annual General Meeting

• Strategic focus remains clearly directed at continuous, sustainably profitable development
• Patrik Heider, CEO of NFON AG since May 2023, introduces himself to the shareholders in attendance
• All agenda items adopted; Supervisory Board confirmed for another term

Munich, 4 July 2023 – NFON, European provider of integrated business communications from the cloud, held its Annual General Meeting for financial year 2022 last Friday. After the event had to be held virtually in previous years due to the corona pandemic, many shareholders gathered at the Munich Stock Exchange this year for a personal exchange with the NFON AG Management Board. 81.56% of the share capital was represented. All items on the agenda were adopted by a large majority. In particular, Rainer-Christian Koppitz, Dr. Rupert Doehner, Günter Müller and Florian Schuhbauer were elected to the Supervisory Board of NFON AG for another term of office.

Patrik Heider, CEO of NFON AG since mid-May 2023, also took advantage of the personal exchange to introduce himself to the shareholders in attendance. As an experienced manager, Patrik Heider will build on the strong foundation to define the further strategic direction of NFON and lead the company into the next phase of growth and innovation. He was most recently CEO of the software companies Thinkproject and riskmethods and was responsible for the successful development of Nemetschek SE as Spokesman of the Executive Board and CFOO.

Financial year 2022 was significantly shaped by the economic impact of the Russian war against Ukraine. At the same time, NFON’s target markets have evolved, making the range of enterprise communications solutions more comprehensive and complex. Business leaders are recognising the need to switch from individual cloud investments to enterprise-wide cloud strategies. This change has given digitalisation projects a new strategic direction and at the same time provided NFON with attractive growth potential. Accordingly, NFON had already focused in the past on expanding its product portfolio in the areas of unified communications & collaboration in addition to cloud-based telecommunications services. Despite the economic uncertainties and a clear reluctance in the investment behaviour of companies, NFON managed to increase its revenue to EUR 80.8 million in financial year 2022, with recurring revenue increasing by 8.3% to EUR 73.6 million. This represents a very high share of recurring revenue of 91.1%. Adjusted earnings before interest, taxes, depreciation and amortisation (adjusted EBITDA) amounted to EUR -1.0 million.

Looking to the future, the primary goal of the Management Board is to continuously develop the company profitably on a sustainable basis. The long-term motto is that earnings must grow more strongly than revenue, with revenue growth at least equalling market growth. In order to be able to fully exploit the potential in the future, the Management Board sees NFON’s operational excellence as an important basis. Building on this foundation, NFON will continue to rely on three strategic growth pillars in the future. On the one hand, the range of services is to be supplemented to include additional value-added services through the development of technological innovations. Secondly, the Management Board continues to place great importance on the development and expansion of an excellent channel and an outstanding channel infrastructure. At the same time, there is potential for optimisation in this area, which can improve the efficiency of the individual partners and partner management. In addition to the further development of the product portfolio and the expansion of the channel, the Management Board sees further growth potential in strategic partnerships and alliances that will enable NFON to strengthen its power of innovation and establish positions in dynamic markets.

“My colleagues had already implemented measures to increase profitability in the second half of 2022, so that NFON got off to a good start in the first quarter of 2023 with slight revenue growth and a significant increase in earnings. We will continue to work on these measures in 2023. Our goal is to offer our customers first-class and innovative solutions with increased efficiency. I am convinced that we are on a good path to add new lustre to our self-image as a cloud pioneer,” said Patrik Heider, CEO of NFON AG.

The results of voting at the Annual General Meeting 2023 are available for download on NFON’s corporate website in the Investor Relations / Annual General Meeting section.

Investor Relations Contact

NFON AG
Claudius Krause
+49 611 205855 23
krause@cometis.de

Media contact

NFON AG
Thorsten Wehner
Vice President Public Relations
+49 89 45300 121
thorsten.wehner@nfon.com

About NFON

NFON AG, headquartered in Munich, is a European provider of integrated business communications from the cloud. The listed company (Frankfurt Stock Exchange, Prime Standard) includes over 3,000 partners in 15 European countries, seven subsidiaries and counts more than 50,000 companies as its customers. With the core product Cloudya, the smart cloud communications platform, NFON offers simplified voice calling, easy video conferencing, and seamless integrations for CRM and collaboration tools for small and medium sized companies. The NFON portfolio consists of four segments: Business Communications with Cloudya, Customer Contact, Integration and Enablement. All of NFON's cloud services are operated in certified data centres in Germany, whose energy requirements are covered 100% by renewable energies. NFON guides companies into the future of business communication with intuitive communication solutions. http://www.corporate.nfon.com/en

Disclaimer

This announcement is not an offer of securities for sale in the United States of America. The securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act. No public offering of securities of the Company is being made in the United States of America and the information contained herein does not constitute an offering of securities for sale in the United States of America, Canada, Australia, Japan or any other jurisdiction in which such offering would be unlawful. This announcement is not for release, publication or distribution directly or indirectly in or into the United States of America, Australia, Canada, Japan or any other jurisdiction in which the distribution or release would be unlawful or to U.S. persons.