Cantourage Group SE increases its sales by 118% to EUR 51.4 million in full year 2024
|
EQS-News: Cantourage Group SE
/ Key word(s): Development of Sales
Not for release, publication or distribution, directly or indirectly, in or into the United States of America, Australia, Canada or Japan or any other jurisdiction in which such release, publication or distribution would be unlawful. The important notes at the end of this announcement need to be observed. Legalization of cannabis brings strong growth: Cantourage Group SE increases its sales by 118% to EUR 51.4 million in full year 2024 Berlin, January 15, 2025 – Cantourage Group SE (hereafter “Cantourage,” ISIN: DE000A3DSV01, www.cantourage.com), Europe’s leading publicly listed cannabis company, posted sales of EUR 51.4 million in the full year 2024. This exceeded the most recently raised sales forecast for 2024 (EUR 46 million to EUR 50 million). The growth in sales in 2024 represents an increase of 118% compared to the previous year (2023: EUR 23.6 million) and demonstrates the exceptional scalability and performance of Cantourage’s business model. On a monthly and quarterly basis, Cantourage continued to see strong growth in sales throughout 2024. At the end of the year, Cantourage once again set new sales records at both the monthly and quarterly level:
The main driver of this positive business performance was the continuously growing demand for Cantourage’s cannabis flowers, especially in Germany and the UK. By significantly expanding its own processing capacities, the company was increasingly able to meet the sustained increase in demand for cannabis-based pharmaceuticals in its various markets over the course of 2024. “2024 was a very eventful year for cannabis in Germany. Over the course of the year, it became clear that the partial legalization in April is giving more and more people access to medical cannabis – and bringing enormous economic potential for the entire industry. We are pleased to be able to meet the growing demand for high-quality, safe cannabis flowers together with our strong partner network. Despite all the macroeconomic challenges, we have now exceeded the EUR 50 million sales mark only five and a half years after our company was founded. We have thus increased our sales revenues of around EUR 500,000 in 2020, when we launched our first product, by more than a hundredfold,” said Philip Schetter, CEO of Cantourage. “For 2025, we have already launched new growth drivers such as our recent very successful market entry in Poland or the relaunch of our telemedicine platform www.telecan.de,” emphasizes Philip Schetter. “By doing so, we want to support even more people on their way to cannabis therapy and expand our leading position in the dynamic European market environment – while continuing to grow profitably as a company. With the help of our asset-light business model, we will be able to realize this growth using our own resources. Overall, we will place a strong emphasis on continuously improving our efficiency, making even better use of economies of scale and significantly increasing our profitability even further.” About Cantourage Cantourage is a leading European producer and distributor of cannabis flowers and cannabis-based medicinal preparations and drugs. The Berlin-based company was founded in 2019 by industry pioneers Norman Ruchholtz, Dr. Florian Holzapfel and Patrick Hoffmann. With an experienced management team and its “Fast Track Access” platform, Cantourage enables producers from around the world to become part of the growing European medical cannabis market faster, easier and more cost-effectively by processing and distributing their cannabis raw materials and extracts. In this context, Cantourage ensures compliance with the highest European pharmaceutical quality standards at all times. The company offers pharmaceutical-grade products in all relevant market segments: dried flower, extracts, dronabinol and cannabidiol. Cantourage was listed on the Frankfurt Stock Exchange on 11 November 2022 and is listed under ticker symbol “HIGH.” Further information: www.cantourage.com This announcement does not constitute a public offer or an advertisement for a public offer to sell securities, in particular not within the meaning of Regulation (EU) 2017/1129 (Prospectus Regulation). Press contact at Cantourage: Frederick Steudemann
15.01.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
| Language: | English |
| Company: | Cantourage Group SE |
| Feurigstraße 54 | |
| 10827 Berlin | |
| Germany | |
| E-mail: | info@cantourage.com |
| Internet: | https://www.cantourage.com/ |
| ISIN: | DE000A3DSV01 |
| WKN: | A3DSV0 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2067531 |
| End of News | EQS News Service |
|
|
2067531 15.01.2025 CET/CEST
