In a challenging environment, CREALOGIX achieves a return to operating profit and achieves a positive operating result in the first half of the 2022/2023 financial year. The cost-cutting measures introduced in the previous financial year and the sale of 67% of the Digital Learning business led to an overall result (EBITDA) of CHF 6.6 million, which is positive even without earnings contributions from the sale. At the same time, as announced, the platform for the development banks was successfully completed in the first half of the year.

Sales increased by 1.1% on an adjusted comparison level and in Swiss francs - taking into account the deconsolidation of Swiss Learning Hub AG; in local currencies, growth was around 6.8%. Despite a difficult market environment, the overall business developed positively.

CREALOGIX reports the following preliminary results:

• Total sales of CHF 42.3 million are CHF 0.5 million higher than the adjusted sales of CHF 41.8 million in the same period of the previous year.
• EBITDA increased from negative CHF 3.8 million in the previous year's period to positive CHF 6.6 million.
• The net profit was CHF 2.7 million and the equity ratio improved to 28.4%. 
• Free cash flow improved significantly by CHF 12.0 million to CHF -3.4 million (previous year CHF -15.4 million).

At the adjusted comparison level CREALOGIX does not yet expect higher sales for the financial year 2022/2023, in particular because of the uncertainties with the euro exchange rate and the continuing switch to multi-year contracts. CREALOGIX is building on the success of the first half year and is pursuing its path with a focus on solid profitability and positive EBITDA for the financial year 2022/2023. 

The complete half-year results for 2022/2023 will be published on 14 March 2023.