NFON AG reported on a successful year in 2023 and on its future strategy at its Annual General Meeting

NFON AG reported on a successful year in 2023 and on its future strategy at its Annual General Meeting

• NFON successfully launched a transformation process and strategic realignment in 2023
• Andreas Wesselmann, CTO of NFON AG since the beginning of 2024, presented plans to strengthen innovation and talked about the use of artificial intelligence at NFON
• 82.12 % of the share capital were represented at the Annual General Meeting; all items on the agenda were adopted by a large majority

Munich, 28 June 2024—NFON, a leading European provider of integrated cloud business communications, held its Annual General Meeting for the fiscal year 2023 today. Numerous shareholders gathered at the Munich Stock Exchange for a face-to-face meeting with the Management Board of NFON AG. The share capital represented was 82.12 %. All items on the agenda were approved by a large majority.

The Chief Technology Officer (CTO) Andreas Wesselmann, who has been a member of the NFON Management Board since the start of 2024, also took the opportunity of the meeting in Munich to introduce himself to the shareholders in person. As CTO, two of his main priorities are to convert technological innovations for NFON's cloud software solutions into scalable business models and to further develop existing products and solutions reliably and economically. In the field of artificial intelligence in particular, Andreas Wesselmann would like NFON to lead the way as an innovative pioneer and create added business value. NFON's own AI Competence Centre is an integral part of this strategy. Before joining NFON, he was a member of SAP's Global Leadership Team and Senior Vice President for SAP HANA Database & Analytics.

NFON is focusing on operational excellence with the aim of fulfilling its self-defined corporate image as an innovative pioneer of integrated cloud business communications in the European market and leveraging market potential accordingly in the future. Key measures to achieve this were already implemented in the second half of 2023, with the replacement and reorganisation of management levels, including the introduction of new areas of responsibility at C-level. Measures to optimise the process and system landscape were also implemented across the board in 2023. Despite economic uncertainties and a clear reluctance to invest on the part of companies, NFON was able to increase revenue in the fiscal year 2023 to 82.3 million, with recurring revenue increasing by 4.8% to 77.1 million. This corresponds to a very high proportion of recurring revenue of 93.7%. The adjusted earnings before interest, tax, depreciation and amortisation (adjusted EBITDA) increased significantly by around 9 million euros to 8.4 million euros.

Looking to the future, the Management Board's primary goal is to ensure the company's sustained profitability. The long-term goal is for profitability to grow at a faster rate than revenue, with revenue growth at least matching market growth. To achieve operational excellence as a solid foundation for this, NFON will continue to systematically drive forward its transformation in the current fiscal year 2024.

Patrik Heider, CEO and CFO of NFON AG: "2023 was an important and successful year for NFON. We have made strategic decisions and initiated a transformation process. We are heading towards sustainable profitable growth and are focusing on being a technological pioneer in the market with innovations and the use of artificial intelligence. Fortunately, our measures have already had a positive effect on our performance in the fiscal year 2023 and we were able to achieve a positive free cash flow for the first time since the IPO. In the first quarter of 2024, we continued our positive development and expect to see profitable growth for 2024 as well thanks to the impetus generated by our strategic measures."

The voting results for the Annual General Meeting 2024 are available to download on NFON's corporate website in the Investor Relations/Annual General Meeting section.

Investor Relations contact

NFON AG
Friederike Thyssen
Vice President for Investor Relations & Sustainability
+49 89 453 00-449
ir-info@nfon.com

cometis AG
Claudius Krause
+49 611 205855-28
krause@cometis.de
 

Media contact

NFON AG
Thorsten Wehner
Vice President for Public Relations
+49 89 453 00-121
thorsten.wehner@nfon.com

About NFON AG

NFON AG, which is headquartered in Munich, is a leading European provider of integrated cloud business communications. The listed company (Frankfurt Stock Exchange, Prime Standard) with more than 3,000 partners in 18 European countries and eight branches counts more than 55,000 companies among its customers. The NFON portfolio comprises four areas: Business Communications, Integration, Customer Contact and Enablement. With its core product Cloudya, the smart cloud communications platform, NFON offers hassle-free voice calls, simple video conferencing and seamless integration of CRM and collaboration tools for small and medium-sized companies.

All NFON’s cloud services are operated in certified data centres in Germany, with 100% of their energy needs covered by renewable sources. NFON accompanies companies into the future of business communication by offering intuitive communication solutions.

http://www.nfon.com/
 

Disclaimer

This notification is provided for information purposes only and constitutes neither an offer to sell nor an invitation to buy or subscribe to securities of the company. The securities discussed in this notification are not and will not be registered under the US Securities Act of 1933 as amended (“US Securities Act”) and are permitted to be sold or offered for purchase in the United States of America only after prior registration or on the basis of an exemption under the US Securities Act. No public offer of the securities discussed in this notification will be made in the United States of America and the information contained in this notification does not constitute an offer to buy securities. This notification is not intended for direct or indirect distribution, publication or dissemination to or within the United States of America, Australia, Canada, Japan or other countries in which the distribution of this notification is unlawful, or to US persons.