Agência para o Investimento e Comércio Externo de Portugal


NFON AG (collectively with its subsidiaries "NFON" or the "Company"), the only pan-European Cloud-PBX provider (telephone system from the cloud), confirms the preliminary figures for the past financial year that it published at the beginning of March 2020.

The very positive business development in an unusual year 2020 marked by COVID-19 impressively underscores that NFON is positioned exactly right in the European market for business communications with its cloud-based product portfolio. For 2021, NFON is planning seat growth of between 15% and 17% and a recurring revenue growth rate of between 14% and 16% and is thus continuing its growth course despite pandemic-related uncertainties. Recurring revenue is expected to account for over 85% of total revenue.


In 2020, NFON significantly increased recurring revenue by 23.6% to EUR 59.4 million (2019: EUR 48.1 million). Total revenue increased by 18.4% to EUR 67.6 million (2019: EUR 57.1 million). As a result, the share of recurring revenue in total revenue increased further to 87.8% (2019: 84.1%). The number of customer-operated extensions (seats) increased by 75,080 seats to 524,791, representing growth of 16.7% compared to the prior-year reporting date (31 December 2019: 431,935). Primarily due to increasing remote working activity and correspondingly higher volumes of voice minutes, average revenue per user (blended ARPU) increased to EUR 9.77 in 2020 (2019: EUR 9.64).


The increased blended ARPU combined with the significantly lower expenses compared to the previous year, for travel and marketing activities, for example, had a clearly positive impact on the development of earnings. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 2.3 million (2019: EUR -7.0 million). Adjusted EBITDA even improved to EUR 3.5 million (2019: EUR -5.1 million).