CANCOM Group grows slightly in difficult market conditions

CANCOM SE: CANCOM Group grows slightly in difficult market conditions
 

• Slight sales growth in the third quarter to € 422.6 million (previous year € 415.8 million)
• EBITDA reaches € 31.0 million after € 35.0 million in the same period of the previous year
• Further improvement in operating cash flow to € 58.5 million in the first nine months
• Forecast adjusted on 11 November 2024 for the 2024 financial year

Munich, 12 November 2024 - The CANCOM Group, a leading digital business provider, confirms the adjusted forecast of 11 November 2024 for the 2024 financial year. At the same time, the published key financial figures for the first nine months of the current financial year show a solid result in view of the difficult market conditions.

"Our aim is to be the first point of contact for our customers when it comes to digitalisation topics and to support them with the growing demands of their digital evolution, especially in challenging times. Although the results for the third quarter do not fully meet our expectations, we were able to hold our own in a challenging market environment," says Rüdiger Rath, CEO of CANCOM SE.

Solid key financial figures in an economically challenging market environment

The CANCOM Group's revenue increased slightly in the third quarter from € 415.8 million to € 422.6 million. In the business segment Germany, revenue totalled € 279.3 million after € 264.8 million. At the same time, the International business segment recorded sales of € 143.3 million after € 151.0 million in the same quarter of the previous year. The CANCOM Group's EBITDA totalled € 31.0 million after € 35.0 million and EBITA amounted to € 17.5 million (previous year: € 20.5 million).

Cash flow in line with expectations
Cash flow from operating activities totalled € -10.1 million in the third quarter and reached € +58.5 million in the first nine months of the reporting period (previous year: € -9.9 million).

Adjusted forecast for the financial year confirmed
In the fourth quarter in particular, the CANCOM Group usually generates a significant proportion of its business with public sector and SME customers. The Executive Board of CANCOM SE expects the recent changes, particularly in the German political environment, to have an impact on the investment behaviour of these customer groups. In addition, the geopolitical and macroeconomic conditions remain tense.

The Executive Board confirms the adjusted forecast of 11 November 2024 and expects the key financial indicators to develop as follows in 2024:

About CANCOM
As a leading Digital Business Provider, CANCOM leads companies, organizations and the public sector into the digital future. The range of services and solutions includes classic system house IT solutions as well as data-based digital solutions, managed services and cloud services. We accompany the digital evolution of our customers with passion and technology and support them in reducing the complexity of their IT and developing new business models. We offer a holistic portfolio for all IT and business requirements.

The CANCOM Group's offering comprises innovative solutions in the areas of Artificial Intelligence, Security & Network, Datacenter & Cloud, IoT Solutions and Modern Workplace and includes services for the entire IT lifecycle – from the provision of IT infrastructures, planning and integration, to support, managed services and XaaS. Customers benefit from the extensive expertise with which their diverse requirements are translated into concrete industry-specific IT solutions to significantly promote their business success.

The more than 5,600 employees of the internationally active CANCOM Group with around 80 locations in the DACH region, Belgium, Slovakia, Romania and the Czech Republic as well as an efficient partner network ensure market presence and customer proximity. The CANCOM Group is managed by Rüdiger Rath (CEO), Jochen Borenich (CSO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM generated annual revenue of around 1.5 billion euros in 2023. The Group parent company CANCOM SE is listed on the Frankfurt Stock Exchange in the TecDAX and SDAX (ISIN DE0005419105).

Contact
Lars Dannenberg
Vice President Investor Relations & Corporate Strategy
+49 89 54054 5371
lars.dannenberg@cancom.de

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