cyan AG publishes preliminary figures for the 2019 fiscal year

• Preliminary Group revenues of EUR 32.4 million (2018: EUR 20.0 million)
• Preliminary EBITDA reaches EUR 11.9 million (2018: EUR 3.4 million)
• Technical integration at Orange France successfully realized
• Positive outlook for 2020

Munich, March 31, 2020 - cyan AG was able to continue its growth course again in the fiscal year 2019 and at the same time set important organizational milestones for a successful future. cyan achieved preliminary total revenues of around EUR 32.4 million (2018: EUR 20.0 million; growth: 62%) and a consolidated EBITDA of EUR 11.9 million (2018: EUR 3.4 million; growth: 251%) according to preliminary, unaudited consolidated figures. Thus, the company achieved an EBITDA margin of 37%.
 

 

Michael Sieghart, CFO of cyan AG: "The past year was of great importance for the further development of our company. I-New was fully integrated, additional resources were built up, particularly in sales and IT-development, and Orange France was successfully installed. And finally, we were able to raise EUR 25 million of additional equity in June 2019 to underpin our growth ambitions on the capital side as well. The preliminary, consolidated Group figures prove that our growth course is on track."

After cyan successfully won an international tender at the end of 2018 and concluded a global contract with Orange for 28 countries and more than 260 million end customers, the technical integration at Orange France was implemented over the last 12 months. As planned, the management of cyan expects a contribution to earnings from this contract, at the latest from the second half of 2020 onwards.

Despite of the spread of Covid-19 and the associated restrictions - such as travel restrictions, which can lead to delays in installations, technical on-site workshops or the finalization of contracts - the Management Board sees more opportunities than risks in the crisis. The associated increase in data traffic over partially unsecured networks is generating significantly higher demand for corresponding security solutions. Many large telcos are already recognizing the massive increase in phishing and malware and want to offer suitable products for protection to their customers.

However, the Covid-19 crisis does not leave cyan unaffected. Particularly painful in this context is the cancellation of the Mobile World Congress in February 2020, where Orange wanted to present the joint cybersecurity products for the first time which will protect millions of Orange end customers in future.

Peter Arnoth, CEO of cyan AG: "Covid-19 slows down but cannot stop us. As a digital IT company, our employees are working tirelessly from home-office on further deals and installations of our solutions. Nevertheless, we expect some project delays on customer side due to the crisis. Following the successful capital increase last year, we are debt-free and have a comfortable liquidity cushion. I am convinced that we can still improve our market position in this crisis. The danger of cyber-attacks in home-office has risen sharply, and the latest customer data shows that the demand for our products is also showing significant growth due to the Covid-19 crisis. So, I am looking forward with optimism to the year 2020."

About cyan:

cyan AG (XETR: CYR) is a leading, globally active provider of intelligent IT security solutions and telecom services with more than 15 years of experience in the IT industry. The main business areas of the company are cybersecurity solutions for end customers of mobile and fixed network internet service providers (MNO), virtual mobile network operators (MVNO) as well as banks and insurance companies. cyan's solutions are integrated into the business partner's infrastructure and then offered to their end customers ("B2B2C") under their name ("white-labeled").

Today, the group of companies has more than 50 international customers, through which cyan products are sold to approximately 8 million end customers. cyan can offer products along the entire value chain from platform, data optimization to cyber security. In addition, cyan operates its own Research & Development Centre with the aim of identifying trends in the industry at an early stage and developing optimal product solutions. In December 2018, cyan was able to win a global group contract with Orange in an international tendering process. cyan's cooperation partners include the world's leading insurance broker Aon and the payment service provider Wirecard.

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Florian Rukover, Head of IR
cyan AG

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Better Orange IR & HV AG