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EQS-News: CANCOM SE
/ Key word(s): Half Year Report/Half Year Results
CANCOM SE: Significant revenue and gross profit growth in the first half-year
Munich, 10 August 2023 - The CANCOM Group closes the first half of 2023 with revenue growth of 8.6 percent, confirming the preliminary figures already published. At Group level, revenue amounted to € 647.0 million (previous year: € 595.5 million) and gross profit rose by 15.7 percent to € 245.2 million (previous year: € 212.0 million). "While the hardware business slowed down in the second quarter, the development in the service business in the first half of the year, on the other hand, was in line with our expectations," said Rüdiger Rath, CEO of CANCOM SE, explaining the revenue development. "This has led to gross profit growth at Group level." Group EBITDA was € 41.5million (previous year: € 51.1million) due to one-off effects of € 10.2 million. The non-recurring effects arose in connection with the CANCOM Group's efficiency and profitability programme amounting to € 5.9 million, M+A costs of € 1.2 million and projects terminated prematurely amounting to € 3.1 million. The Group EBITA in the first half of the year was € 18.9 million (previous year: € 30.9 million). “The one-off effects show that we are vigorously implementing the transformation of the CANCOM Group in all areas, which we have set out to achieve with our efficiency and profitability programme,” said Rath. “After the transformation year 2023, the CANCOM Group will benefit from tangible and sustainable savings effects of around € 15 million in 2024. We include the effects for 2023 in the forecast.” New segment reporting after acquisition of K-Businesscom In the Germany segment, which includes the German companies of the CANCOM Group as well as a subsidiary of KBC, revenue in the first half of 2023 was € 564.5 million (previous year: € 543.7 million). Gross profit amounted to € 214.0 million (previous year: € 195.3 million) and EBITDA reached € 32.4 million (previous year: € 44.5 million). EBITA was € 11.4 million (previous year: € 24.9 million). In the International segment, revenue generated in the comparative period mainly by the CANCOM subsidiaries CANCOM a+d Solutions in Austria and CANCOM Public BV in Belgium was € 82.5 million (previous year: € 51.8 million). Gross profit was € 37.5 million (previous year: € 17.6 million). EBITDA reached € 9.2 million (previous year: € 6.6 million) and EBITA € 7.5 million (previous year: € 6.0 million). “The development in the International segment is primarily due to the contribution of K-Businesscom, which we included in the scope of consolidation on 1 June 2023”, explains Rath. Cash flow from operating activities significantly improved Strong development in the services business Challenging environment expected in the second half of the year
The complete half-year financial report 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 management of IT systems. Customers benefit from the extensive expertise as well as a holistic and innovative portfolio that covers the IT requirements that are necessary for a successful digital transformation. As a hybrid IT integrator and service provider, the Company provides an integrated range of services and solutions including business solutions and managed services, such as cloud computing, analytics, enterprise mobility, IT security, hosting, and as-a-service offerings. With more than 5,600 employees, CANCOM Group and its efficient partner – network ensure market presence and customer proximity in Germany, Austria, Switzerland and Belgium. The CANCOM Group is led by Rüdiger Rath (CEO), Jochen Borenich (CSO) and Thomas Stark (CFO). The company is headquartered in Munich, Germany. CANCOM generated revenue of around € 1.3 billion in the financial year 2022. Its parent company CANCOM SE is listed in the SDAX and TecDAX of the Frankfurt Stock Exchange (ISIN DE0005419105).
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10.08.2023 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: | 1700317 |
| End of News | EQS News Service |
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1700317 10.08.2023 CET/CEST
