BasicNet’s Ebit was flat at €10.8 million in Q1 as Ebitda improved by 5.5 percent to €14.8 million for the period that ended March 31. Consolidated revenues grew by 27.7 percent to €108.0 million, including 36 percent direct sales growth to €91.4 million, aided by the group’s April 2022 acquisition of K-Way France S.a.s. Royalties from BasicNet licensees declined by 6.4 percent year-over-year to €16.3 million.
Aggregate Q1 group revenues rose 5.8 percent to €293.5 million, fueled by an 11.0 percent increase in commercial licensee/direct sales to €220.8 million, with Europe accounting for 72 percent of the total, or an implied €211.3 million based on 26.3 percent year-over-year growth. All other geographic regions had lower Q1 sales, led by a 23.4 percent decline in the Americas, followed by Asia/Oceania (-11.4%) and the Middle East/Africa (-8.3%). In the productive licensee segment, the group posted a 7.5 percent drop in period revenues to €72.7 million.
