CANCOM SE: 11 percent revenue growth in Q3 2022 but also higher expenses. New revised annual forecast with target corridors published.

CANCOM SE: 11 percent revenue growth in Q3 2022 but also higher expenses. New revised annual forecast with target corridors published.

Munich, Germany, 31 October 2022 - In the third quarter of 2022, based on preliminary figures, the CANCOM Group achieved a growth in Group revenue of 10.7 percent to € 329.6 million (prior year: € 297.7 million) due to an increasing normalisation of business activity. Group gross profit increased to € 109.0 million compared to the prior year (prior year: € 102.9 million). Group EBITDA amounted to € 28.9 million (prior year: € 32.6 million) and Group EBITA to € 15.1 million (prior year: € 22.7 million) due to higher expenses in the third quarter.

For the nine-month period 2022 this means: At € 925.1 million, the CANCOM Group's Group revenue was roughly on a par with the prior year (prior year: € 932.8 million), while Group gross profit grew moderately to € 321.0 million (prior year: € 310.2 million). At € 80.0 million, Group EBITDA is currently below the comparable value (prior year: € 85.5 million), as is Group EBITA at € 46.0 million (prior year: € 58.2 million).

Against the background of the business results achieved in the period from January to September 2022, the Executive Board of CANCOM SE announces target corridors for the expected annual result 2022 of the CANCOM Group and at the same time changes the qualitative disclosures published so far:

• Group revenue 2022: € 1,280 to 1,330 million 
  (priorly: "significant growth" compared to the prior year's value of € 1,286.0 million*)
• Group gross profit 2022: € 435 to 445 million
  (priorly: "significant growth" compared to the prior year's value of € 425.6 million*)
• Group EBITDA 2022: € 116 to 123 million
  (priorly: "significant growth" compared to the prior year's figure of € 122.6 million*)
• Group EBITA 2022: € 70 to 76 million
  (priorly: "significant growth" compared to the prior year's figure of € 85.2 million*)

The results for the IT Solutions and Cloud Solutions segments were not yet available at the time of publication of this release. However, the Executive Board of CANCOM SE will also adjust the forecast for the key financial figures in the segments to target corridors in line with the now new revised forecast for the Group's key financial figures. The target corridors for the segments will be announced together with the final business results for the third quarter.

The full interim announcement of the CANCOM Group for the third quarter of 2022 will be published on 10 November 2022 on the website www.cancom.de in the Investors section.

Notifying Company:
CANCOM SE, Erika-Mann-Strasse 69, 80636 Munich
ISIN DE0005419105, Frankfurt Stock Exchange (SDAX, TecDAX, Prime Standard)

Contact / Notifying person:
Sebastian Bucher, Manager Investor Relations
+49 (0)89 540545193
sebastian.bucher@cancom.de

*Note on comparative key figures
The Group company HPM Incorporated, which operates in the USA, was classified as "held for sale" for the first time in CANCOM SE's half-year financial report 2022. As a result, the published key financial figures in the income statement and segment reporting of the 2021 financial year have been retroactively adjusted (further information in section A.2.2.3 and B.2 of the 2022 half-year financial statements).

Note on Alternative Performance Measures
The definitions of alternative performance indicators like gross profit, EBITDA, EBITA and Annual Recurring Revenue used in this announcement are published in the CANCOM SE Annual Report 2021 on page 16.