SEVEN PRINCIPLES AG (7P), a German IT consulting and service company with a focus on the digitalisation of business processes, has gotten off to a robust start in 2021 following the successful operational turnaround in the 2020 financial year.
Group turnover fell slightly again in the first quarter to around EUR 22.3 million (Q1/2020: EUR 22.9 million). This effect was caused mainly by lockdown-related project delays and postponements. A cost reduction of approx. 1.2 million EUR more than compensated for this turnover development, however. As a result, the Group EBIT could be increased to over EUR 1.1 million. Compared to the figure for the same quarter of the previous year, adjusted for spin-off-related special effects, this corresponds to an increase of approximately 44%.
With this successful first quarter now behind it, Seven Principles is sticking to its annual forecast and continues to expect a confirmation of the turnaround and an increase in EBIT for the 2021 financial year.
Enabling Your Digital Business: For SEVEN PRINCIPLES AG, headquartered in Cologne, this means standing by your side and realising your digital business models. Our three subsidiaries, Seven Principles Solutions & Consulting GmbH, Seven Principles Mobility GmbH and intomarkets GmbH have made it their mission to make your business more sustainable and digital. We help you through your digital transformation. With around 400 colleagues working at several locations in Germany and throughout Europe, we provide innovative IT solutions.
Important note: This announcement constitutes neither an offer to sell nor a solicitation of an offer to buy or to subscribe for securities. This communication does not constitute a securities prospectus. This communication and the information contained in it are not for distribution, directly or indirectly, within or into the United States of America, Canada, Australia or Japan.