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    NFN   DE000A0N4N52

NFON AG

(NFN)
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PRESS RELEASE: NFON AG confirms positive development in 2020 and presents growth strategy 2024

04/15/2021 | 01:02am EDT
DGAP-News: NFON AG / Key word(s): Annual Report/Annual Report 
NFON AG confirms positive development in 2020 and presents growth strategy 2024 
2021-04-15 / 07:00 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Corporate News 
NFON AG confirms positive development in 2020 and presents growth strategy 2024 
- NFON aims to be the leading provider for voice-centric business communications 
- Focus on the segment of small and medium-sized businesses and enterprises 
- Expansion of the product portfolio into a complete UCaaS suite 
- Scalability of the business via a further expanded and optimized Europe-wide partner network 
 
Munich, 15 April 2021 - NFON AG (collectively with its subsidiaries "NFON" or the "Company"), the only pan-European 
Cloud-PBX provider (telephone system from the cloud), confirms the preliminary figures for the past financial year that 
it published at the beginning of March 2020. The very positive business development in an unusual year 2020 marked by 
COVID-19 impressively underscores that NFON is positioned exactly right in the European market for business 
communications with its cloud-based product portfolio. For 2021, NFON is planning seat growth of between 15% and 17% 
and a recurring revenue growth rate of between 14% and 16% and is thus continuing its growth course despite 
pandemic-related uncertainties. Recurring revenue is expected to account for over 85% of total revenue. 
In 2020, NFON significantly increased recurring revenue by 23.6% to EUR 59.4 million (2019: EUR 48.1 million). Total 
revenue increased by 18.4% to EUR 67.6 million (2019: EUR 57.1 million). As a result, the share of recurring revenue in 
total revenue increased further to 87.8% (2019: 84.1%). The number of customer-operated extensions (seats) increased by 
75,080 seats to 524,791, representing growth of 16.7% compared to the prior-year reporting date (31 December 2019: 
431,935). Primarily due to increasing remote working activity and correspondingly higher volumes of voice minutes, 
average revenue per user (blended ARPU) increased to EUR 9.77 in 2020 (2019: EUR 9.64). The increased blended ARPU 
combined with the significantly lower expenses compared to the previous year, for travel and marketing activities, for 
example, had a clearly positive impact on the development of earnings. Earnings before interest, taxes, depreciation 
and amortization (EBITDA) amounted to EUR 2.3 million (2019: EUR -7.0 million). Adjusted EBITDA even improved to EUR 
3.5 million (2019: EUR -5.1 million). 
NFON growth strategy 2024 
NFON CEO Dr. Klaus von Rottkay is optimistic about the future and elaborates on the mission for the growth strategy 
2024: "Telephony and IT are growing ever closer together. This is an effect that has become unmistakable in today's 
business world. We therefore aim to be the leading provider of voice-centric business communications in Europe." 
Telephony is still the most important communication channel for companies. Jan-Peter Koopmann, CTO of NFON AG: "After 
the phase-out of ISDN and the ongoing replacement of outdated phone system technology with cloud PBX, we are 
immediately in the third wave of disruption. Telephony, collaboration with video or chat and business applications such 
as contact center solutions are converging." The excellent user experience on the platform is the decisive competitive 
advantage here. Jan-Peter Koopmann continues: "Customers want to use a platform in which they can switch between voice, 
video, text and collaboration fluently, easily guided and without complications. It clearly follows that we will offer 
a complete UCaaS suite with exactly these components, complemented by open APIs and further omni-channel solutions." 
Another important feature of this platform, and a key premise for increasingly simplifying business communications and 
workflows, is the focus on user scenarios that include mobile work as well as hybrid or remote work. 
"As part of our growth course, we will not only increasingly sell our new products to our existing customer base. We 
will of course also continue to expand our partner network in Europe. For us, the partner stands absolutely and 
unwaveringly at the center of everything we do. At the same time, we will increase our focused customer segment in the 
small and medium business (10 - 250 extensions) to the enterprise segment," explains Klaus von Rottkay. 
A clear go-to-market strategy will also make it easier for NFON to gain efficiency and scale faster. The company 
already has an excellent presence in markets such as Germany, the UK and Austria. Markets such as France or Italy, on 
the other hand, are still new to the company's structure and are therefore classified as countries with a relative 
growth focus. With its 2024 growth strategy, NFON is also looking at opportunities to invest in Central and Eastern 
Europe. These markets promise faster growth with less competitive pressure. 
"Our 2024 growth strategy can be summarized in three words: Target - Enhance - Scale," says Klaus von Rottkay. "Our 
business takes place in Europe, and that is where we are staying. It is precisely this presence and the product 
portfolio tailored to it that we will optimize. We will expand our existing PBX business in the direction of 'smart 
workflow' voice-centric business communications and, starting with our more than 2,700 partners, invest in the 
expansion of this network." 
*Def. voice-centric: any business interaction that involves voice: PBX, UCaaS, CCaaS, voice assistance and beyond 
NFON will present the final figures at its Capital Markets Day, 15. April 2021, at 10:00 a.m. (CET). Interested parties 
can register for the web and conference call via the company's Corporate NFON website. 
Starting at 3:00 p.m. (CET), the management team will present the 2024 growth strategy and product strategy in detail. 
Registration is possible via the Capital Markets Day website: Registration. 
 
Result for financial year 2020 at a glance: 
EUR million                                         2020    2019 Change 
Total revenue                                       67.6    57.1  18.4% 
Recurring revenue                                   59.4    48.1  23.6% 
Share of recurring revenue in total revenue        87.8%  84.1 % 
Non-recurring revenue                                8.2     9.1  -9.6% 
Share of non-recurring revenue in total revenue    12.2%   15.9% 
ARPU blended^1                                      9.77    9.64   1.3% 
Seat growth                                      524,791 449,711  16.7% 
(31 December) 
EBITDA                                               2.3    -7.0    n/a 
Adjusted EBITDA^2                                    3.5    -5.1    n/a 

^1 Based on average number of seats per month in each year 2 Adjusted for the retention bonus, stock options, DTS acquisition expense, one-time effects

Investor Relations Contact

NFON AG Sabina Prüser Head of Investor Relations +49 89 45300 134 sabina.prueser@nfon.com

Media Contact

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

About NFON AG

Headquartered in Munich, NFON AG is the only pan-European cloud PBX provider - counting more than 40,000 companies across 15 European countries as its customers. With Cloudya, NFON offers an easy-to-use, independent and reliable solution for advanced cloud business communications. Further premium and industry solutions complete the portfolio in the field of cloud communications. With our intuitive communications solutions, we enable European companies to improve their work a little every single day. NFON is the new freedom in business communication. https://corporate.nfon.com/de/

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. -----------------------------------------------------------------------------------------------------------------------

2021-04-15 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      NFON AG 
              Machtlfinger Straße 7 
              81379 Munich 
              Germany 
Phone:        +49 89 453 00 0 
E-mail:       ir-info@nfon.com 
Internet:     https://corporate.nfon.com 
ISIN:         DE000A0N4N52 
WKN:          A0N4N5 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1184933 
 
End of News   DGAP News Service 
=------------ 

1184933 2021-04-15

(END) Dow Jones Newswires

April 15, 2021 01:01 ET (05:01 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -1.99% 33587.66 Delayed Quote.11.97%
ISDN HOLDINGS LIMITED 2.54% 0.605 End-of-day quote.49.38%
NFON AG 0.00% 16.45 Delayed Quote.-9.37%
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Financials
Sales 2021 77,5 M 93,6 M 93,6 M
Net income 2021 -11,9 M -14,4 M -14,4 M
Net cash 2021 19,6 M 23,6 M 23,6 M
P/E ratio 2021 -22,7x
Yield 2021 -
Capitalization 272 M 329 M 329 M
EV / Sales 2021 3,26x
EV / Sales 2022 2,76x
Nbr of Employees 432
Free-Float 90,9%
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Mean consensus BUY
Number of Analysts 5
Average target price 25,60 €
Last Close Price 16,45 €
Spread / Highest target 82,4%
Spread / Average Target 55,6%
Spread / Lowest Target 39,8%
EPS Revisions
Managers and Directors
NameTitle
Klaus von Rottkay Chief Executive Officer
Petra Boss Chief Financial Officer
Rainer-Christian Koppitz Chairman-Supervisory Board
Jan-Peter Koopmann Chief Technology Officer
Roland Schorr Vice President-Research & Development
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