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    QBY   DE0005137004

Q.BEYOND AG

(QBY)
  Report
Delayed Xetra  -  11:36 2022-11-25 am EST
0.7960 EUR   +1.92%
11/07Transcript : Q.beyond AG, Q3 2022 Earnings Call, Nov 07, 2022
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11/07Q Beyond : Presentation Q3/2022
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11/07Q.beyond AG Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
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Q.beyond appoints Thies Rixen to Management Board as COO

09/19/2022 | 03:02am EST

EQS-News: q.beyond AG / Key word(s): Personnel
q.beyond appoints Thies Rixen to Management Board as COO

19.09.2022 / 09:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


q.beyond appoints Thies Rixen to Management Board as COO

  • Thies Rixen has headed the fast-growing cloud business since 2019
  • Proprietary Competence Center strengthens partnerships with major public cloud providers
  • Expansion and development of near-shoring locations boosts effectiveness of operations and profitability

Cologne, 19 September 2022 – The Supervisory Board of the IT service provider q.beyond is appointing Thies Rixen (50) as a member of the company’s Management Board as of 1 October 2022. The experienced IT manager joined q.beyond in 2019 and in subsequent years managed the cloud solutions business and later the company’s sales activities as well. Under his management, the cloud business has become the key driver of the company’s growth. Revenues in this business field grew year-on-year by 18% to € 33.8 million in the second quarter of 2022.

Thies Rixen to be responsible within Management Board for operations and sales

Dr. Bernd Schlobohm, the Chairman of q.beyond’s Supervisory Board explains: “Thies Rixen has performed outstanding work in recent years, modernised IT operations and opened up new and profitable growth perspectives for the company. It therefore makes absolute sense to appoint him now to the Management Board.” In his new function, Thies Rixen will be responsible for operations and sales. He will thus also free up time for Jürgen Hermann, currently the only member of the Management Board and CEO, who will now be able to focus even more closely on the topics of strategy, communications and M&A.

A graduate in business administration, Thies Rixen has gained extensive management and industry expertise in the 20 plus years he has worked in the IT sector. Previous posts in his career include CIO and Managing Director at Ingenico Group, leading positions at DXC and most recently Executive Vice President at Deutsche Telekom until 2019. At q.beyond, he drew on this expertise in particular to systematically expand the company’s competence in the field of hybrid cloud. Among other developments, this gave rise to a Cloud Competence Center with more than 150 specialists. Here, the company pools all its public and private cloud expertise, maintains partnerships with major public cloud providers and ensures that q.beyond can select and operate the right cloud figuration for each individual customer.

New subsidiary in Andalusia/Spain

This hybrid cloud expertise is creating new and profitable growth opportunities. The establishment of near-shoring locations, a process also largely initiated by Thies Rixen, is helping to increase the company’s profitability. q.beyond has operated a branch in Riga/Latvia since 2020 and is now establishing a further location in Andalusia/Spain. This will be charged in particular with supporting growth in the company’s application business. Given these developments, the new member of q.beyond’s Management Board believes that the company is well positioned to achieve the profitable growth budgeted for the coming years. “Together with Jürgen Hermann, I will press ahead with positioning our company as the IT provider of choice to accompany SMEs in Germany through their digital transformation. Here, we will benefit just as much from our hybrid cloud competence as from our expertise in overcoming existing hurdles on this journey by working with internally developed and customary market applications.”

q.beyond’s CEO Jürgen Hermann is looking forward to working with Thies Rixen: “What I really appreciate about Thies, alongside his specialist expertise, is his entrepreneurial approach, his business sense and his great loyalty. In his new role, he will make a decisive contribution to ensuring that our company generates profitable growth even in the current challenging conditions.”


About q.beyond AG:
q.beyond AG is the key to successful digitalisation. We help our customers find the best digital solutions for their business and then put them into practice. Our strong team of 1,100 people accompanies SME customers securely and reliably throughout their digital journey. We are experts in Cloud, SAP and SaaS. With nationwide locations and its own certified data centres, q.beyond is one of Germany’s leading IT service providers.


Contact:
q.beyond AG

Arne Thull
Head of Investor Relations/Mergers & Acquisitions
T +49 221 669 8724
invest@qbeyond.de
www.qbeyond.de



19.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: q.beyond AG
Mathias-Brüggen-Straße 55
50829 Cologne
Germany
Phone: +49-221-669-8724
Fax: +49-221-669-8009
E-mail: invest@qbeyond.de
Internet: www.qbeyond.de
ISIN: DE0005137004
WKN: 513700
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1444711

 
End of News EQS News Service

1444711  19.09.2022 CET/CEST

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Financials
Sales 2022 173 M 180 M 180 M
Net income 2022 -10,9 M -11,4 M -11,4 M
Net cash 2022 31,2 M 32,4 M 32,4 M
P/E ratio 2022 -8,84x
Yield 2022 -
Capitalization 99,2 M 103 M 103 M
EV / Sales 2022 0,39x
EV / Sales 2023 0,35x
Nbr of Employees 1 127
Free-Float 73,8%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 0,80 €
Average target price 1,63 €
Spread / Average Target 104%
EPS Revisions
Managers and Directors
JŘrgen Hermann Chief Executive Officer
Christoph Reif Chief Financial Officer
Bernd Schlobohm Chairman-Supervisory Board
Thies Rixen Chief Operation Officer
Ina Schlie Independent Member-Supervisory Board
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