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QSC: Shock would be the wrong reaction

QSC’s sales fell by 61 percent in the first quarter to EUR 34.1 million. However, investors do not have to be shocked, the negative was to be expected. QSC separated from Plusnet last year and Plusnet was sold. With the submitted sales you are at the level of the market expectations.

EBITDA declined from EUR 15.9 million to EUR -1.1 million. The consensus was EUR -1.8 million. The bottom line is that the Cologne company made a loss of 5.5 million euros, the market had expected -6.1 million euros.

For the full year, QSC continues to expect sales of more than 143 million euros. The EBITDA should come to -5 million euros. From the fourth quarter onwards, EBITDA should become sustainably positive again. QSC is anticipating a general normalization of life from the third quarter.

The pandemic also has positive consequences for QSC, and interest in digital solutions is growing. On the other hand, there are negative effects in the consulting area.

Investors will soon have to get used to a new name. The company will change its name to Q.BEYOND in the fourth quarter.

Independent Research analysts today confirm their recommendation to hold QSC shares. The target price is raised from EUR 1.20 to EUR 1.40.

QSC shares are now down 0.6 percent to EUR 1.30.

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