Cantourage Group SE records strong growth in 2024 since the partial legalisation of cannabis came into force
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EQS-Ad-hoc: Cantourage Group SE / Key word(s): Quarter Results 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 must be observed.
Ad-hoc: Cantourage Group SE records strong growth in 2024 since the partial legalisation of cannabis came into force
Berlin, 15 May 2024 – Cantourage Group SE (hereinafter “Cantourage,” ISIN: DE000A3DSV01, www.cantourage.com), a leading European cannabis production and distribution company, recorded a significant increase in demand and revenue growth of approximately 160% in April 2024 compared to the same month last year. Revenue growth in the first quarter of 2024 remained below expectations at approx. 26 % compared to the same period of the previous year (revenue in Q1 2024: EUR 6.2 million, revenue in Q1 2023: EUR 4.8 million) due to the uncertain legal situation.
Due to the changes resulting from the “Cannabis Act,” Cantourage assumes that significant growth in revenue can be achieved in 2024 as a whole. The company expects the “Cannabis Act” to provide significant impetus for medical cannabis in 2024, as it is no longer a narcotic. This will lead to simplifications in dispensing by pharmacies and prescriptions by doctors. It is not yet possible to estimate how the trend will develop and how strongly it will affect Cantourage’s revenue and earnings performance. In principle, however, Cantourage expects to benefit greatly from the new legal framework in 2024 as a whole.
The figures relate to an unaudited pro forma consolidation of the operating subsidiaries.
About Cantourage Cantourage is a leading European producer and distributor of 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: Bernd Fischer Phone +49 (0)30 4701 350 - 50
End of Inside Information
15-May-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| 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: | 1902791 |
| End of Announcement | EQS News Service |
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1902791 15-May-2024 CET/CEST
