DGAP-News: Philion SE / Key word(s): Annual Results/Forecast
Philion SE has reached important milestones in 2018 and expects significant revenue jump in 2019
At the beginning of 2018, Fexcom GmbH, the largest independent telecommunications chain in Germany, was merged into the Group. In December 2018, a stake in the Mister Mobile GmbH with its brand DEINHANDY was acquired. The investment is part of Philion's strategic partnership with the Swiss mobilezone Group, the leading independent telecommunications specialist in mobile and fixed-line telephony in Switzerland. "With Fexcom and DEINHANDY, we have created the conditions for implementing an omni-channel strategy that is unique in the German telecommunications market this year. At the same time, we have built up our capital market presence," says Michael Rohbeck, Managing Director of Philion SE. "For our young group of companies, the implementation of all these measures was a challenge from which we will benefit from from 2019 onwards".
In 2018, Philion switched to Group accounting and IFRS. In addition, a securities prospectus was prepared. On this basis, the first few months of the current year saw the segment switch to the regulated market, the secondary listing on the Frankfurt Stock Exchange and the commencement of Xetra trading.
Philion's operating performance in 2018 was impacted by the cost of starting the buy-and-buid strategy. Group sales amounted to EUR 50.3 million. The net result for the year was EUR -2.4 million and includes one-time expenses of more than EUR 1.6 million. It should be noted that only Fexcom and its subsidiaries were fully consolidated in 2018.
Michael Rohbeck: "The evaluation period with the first DEINHANDY shops has been successful and shows that we are on the right track. We are therefore confident that we will be able to make significant operational progress in 2019 and expect a considerable jump in sales and a positive result. In addition, we are planning further takeovers". Philion expects pro forma consolidated sales of around 200 million euros for 2019. The annual result should be positive and in the lower single-digit million range.
The complete consolidated financial statements (in German only) will be published on the company's website in the course of the next few hours: philion.de
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About Philion SE
|Wallstr. 15 a|
|Phone:||+49 (0)30 28 49 36 40|
|Listed:||Regulated Market in Dusseldorf; Regulated Unofficial Market in Frankfurt (Basic Board)|
|EQS News ID:||805761|
|End of News||DGAP News Service|