QSC AG : Telecom divestment in Q3 could kick off accelerated expansion of growth businesses and debt repayment
>Soft Q1 results as expected - QSC AG published Q1 2019 results in line with our estimates and consensus. Group revenues were down -7.1% yoy to € 87.4m, but in line with our estimates and consensus (Oddo BHFe: € 87.8m, cons: € 87.2m). The decrease was mainly due to contract expirations in its outsourcing segment and base effects in its telecom (TC) segment. EBITDA rose 72.8% yoy to € 15.9m (including an IFRS 16 effect of € 8.5 m), also in line with expectations (Oddo ...QSC is a provider for the Information Technology and Telecommunications market. Co.'s range of products, services and solutions includes solutions for the individual needs of business customers as well as products for smaller companies and distribution partners. The range can be classified into: Telecommunications services, Outsourcing, Consulting and Cloud Services. Co. has three business units: Direct Sales, which focuses on solutions business, and addresses larger and mid- size enterprises in Germany; Indirect Sales, which addresses smaller and mid-size companies in Germany; and Resellers, which bundles its business with service providers that address residential customers.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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