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EQS-News: CANCOM SE
/ Key word(s): 9 Month figures
CANCOM SE: CANCOM Group grows in a difficult economic environment thanks to successful acquisition strategy
Munich, Germany, 9 November 2023 – The CANCOM Group closed the third quarter with very significant growth in a challenging environment. Revenue in the third quarter rose by 26.2 percent to €415.8 million (prior year: €329.6 million) and gross profit also increased strongly by 48.3 percent to €161.7 million. EBITDA amounted to €35.0 million (prior year: € 28.9 million) and the EBITDA margin was 8.4 percent. This means that the CANCOM Group achieved revenue growth of 14.9 percent to €1,062.9 million in the first nine months of the year (prior year: €925.1 million). Gross profit also developed well, increasing by 26.7 percent to €406.9 million (prior year: €321.0 million). With EBITDA of €76.6 million (prior year: €80.0 million), the CANCOM Group's EBITDA margin after nine months was 7.2 percent. The nine-month figures include special effects on EBITDA totalling €10.2 million, which were caused by the cost-cutting and efficiency programme, M+A costs and the premature termination of projects. "In the third quarter, our colleagues in Austria achieved excellent results, while in Germany, as expected, we were confronted with significantly weaker demand in the areas of workplace infrastructure and e-commerce," says Rüdiger Rath, CEO of the CANCOM Group, summarising the results of the third quarter. "The course of business in the third quarter confirms that we are on the right track with our current outlook and that the acquisition of K-Businesscom will strengthen the CANCOM Group in the long term." Operating cash flow significantly improved Strong development in segment International - segment Germany soft Usual seasonality expected in the fourth quarter: Executive Board confirms forecast
The complete quarterly statement for the third quarter of 2023 of the CANCOM Group is published on the website in the Investors section.
________________________________ About CANCOM The CANCOM Group's range of IT solutions includes consulting, implementation, services and the operation of IT systems. Customers benefit from our extensive expertise and a holistic and innovative portfolio that covers the IT requirements necessary for the successful digital transformation of companies. As a hybrid IT integrator and service provider, we deliver a range of services and solutions that includes business solutions and managed services such as cloud computing, analytics, enterprise mobility, IT security, hosting and as-a-service offerings. The CANCOM Group's approximately 5,600 employees and an efficient partner network ensure market presence and customer proximity in Germany, Austria, Switzerland and Belgium, among other countries. The CANCOM Group is managed by Rüdiger Rath (CEO), Jochen Borenich (CSO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM generated revenue of around 1.3 billion euros in 2022. The Group parent company CANCOM SE is listed on the Frankfurt Stock Exchange in the SDAX and TecDAX (ISIN DE0005419105).
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09.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | CANCOM SE |
| Erika-Mann-Straße 69 | |
| 80636 Munich | |
| Germany | |
| Phone: | +49-(0)89/54054-0 |
| Fax: | +49-(0)89/54054-5119 |
| E-mail: | |
| Internet: | |
| ISIN: | DE0005419105 |
| WKN: | 541910 |
| Indices: | SDAX, TecDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1768837 |
| End of News | EQS News Service |
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1768837 09.11.2023 CET/CEST
