EQS-News

'The Year of Whistleblowing': EQS Group continues growth track in the financial year 2023

EQS-News: EQS Group AG / Key word(s): Annual Report 'The Year of Whistleblowing': EQS Group continues growth track in the financial year 2023 29.04.2024 / 10:00 CET/CEST The issuer is solely responsible for the content of this announcement. „The Year of Whistleblowing“: EQS Group continues growth track in the financial year 2023

 

• Revenue* growth of 15 percent compared to the previous year
• Regulatory conditions strengthen customer and revenue growth, particularly in the compliance segment
• Successfully completed takeover offer by financial investor Thoma Bravo supports growth and development potential

 

Munich – 29 April 2024

 

EQS Group has published the 2023 annual report. The company continued its growth trajectory in FY 2023 and generated revenue* of EUR 69.40 million (previous year: EUR 60.29 million). The compliance segment showed strong revenue growth of 18 percent. Revenue in the Investor Relations segment increased by 3 percent. The company’s EBITDA* fell to EUR 3.28 million (previous year: EUR 4.92 million). This is the result of extraordinary expenses in relation to the public takeover bid by financial investor Thoma Bravo. Adjusted for the extraordinary expenses, EBITDA* totaled EUR 8.55 million. The consolidated net loss* amounted to EUR -5.66 million.

 

Whistleblowing legislation boosts growth in the compliance segment

 

EQS Group's growth is significantly influenced by the trend of increasing regulations in the area of compliance for organizations. In this financial year, the regulatory framework gave a strong impetus, particularly the EU Whistleblower Protection Directive, which came into effect in most EU countries in mid-2023.

 

As the leading cloud software provider for compliance in Europe, EQS Group acquired more than 3,300 new software-as-a-service (SaaS) customers for whistleblower systems in 2023. This increase supported the revenue growth in the compliance segment of 18 percent to EUR 49.95 million. The compliance customer base grew by 87 percent year-on-year to a total of 6,915 SaaS customers.