CANCOM SE / DE0005419105
28.03.2024 - 08:00:07CANCOM SE: CANCOM publishes Annual Report 2023 and forecasts significant growth
| CANCOM SE / Key word(s): Annual Report 28.03.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Group revenue increases by 17.8 percent to € 1,522.7 million (prior year: € 1,292.9 million) and Group EBITDA to € 115.7 million (prior year: € 104.9 million). Cash flow from operating activities increases by € 148.2 million to € +94.6 million. The Executive Board and Supervisory Board propose a constant dividend of € 1.00. Forecast 2024: CANCOM Group expects significant growth. Munich, Germany, 28 March 2024 – In the 2023 financial year, Group revenue increased by 17.8 percent to € 1,522.7 million. The CANCOM Group also achieved a significant increase in gross profit of 33.0 percent to € 582.3 million (prior year: € 437.9 million). EBITDA increased by 10.3 percent to € 115.7 million (prior year: € 104.9 million) despite one-off effects, while EBITA rose by 18.0 percent to € 64.1 million (prior year: € 54.3 million). "Thanks to our successful acquisition strategy, we closed the 2023 financial year with significant growth," summarises Rüdiger Rath, CEO of CANCOM SE. "At the same time, we have implemented the operational improvements we had planned step by step. Our new ERP system was introduced in the 2023 financial year and we expect it to have a positive impact in the coming years. The efficiency and profitability programme for 2023 has been completed and the high capital commitment at the beginning of the year is decreasing. We are starting the new financial year in a good position and are therefore proposing a constant dividend of € 1.00 per share." In the forecast for the development of the CANCOM Group in the 2024 financial year, the Executive Board forecasts, among other things, growth in consolidated revenue to € 1.750 million to € 2,000 million and that consolidated EBITDA will reach a value of € 130 million to € 155 million. Fiscal year ended with strong cash flow from operating activities, strong development in the International segment Cash flow from operating activities developed extremely positively, increasing by € 148.2 million year on year to € +94.6 million (prior year: € -53.6 million). Cash and cash equivalents were at a comfortable level of € 222.5 million at the end of the year (prior year: € 393.2 million) after payments of € 107.6 million for company acquisitions and expenditure of € 71.6 million for the 2023 share buy-back programme. In the CANCOM Group's financial reporting, the business segments "Germany" and "International" were presented for the first time for the full year. In the "Germany" segment, revenue totalled € 1,135.8 million (prior year: € 1,171.7 million). EBITDA was diluted by one-off costs totalling € 10.2 million and amounted to € 81.1 million (prior year: € 90.9 million). The EBITDA margin was 7.1 percent (prior year: 7.8 percent). The contribution of the CANCOM Austria Group dominated the development in the "International" segment. Revenue rose to € 386.9 million (prior year: € 121.2 million) and with EBITDA of € 34.6 million (prior year: € 13.9 million), an EBITDA margin of 9.0 percent was achieved. Integration of the KBC Group progresses The integration of the KBC Group, which has been operating under the name CANCOM Austria Group since 1 January 2024, has made good progress in recent months. The first joint annual financial statements published with the annual report are another important milestone in the integration of the two companies. In 2024, the focus will be on joint market development with the combined and expanded portfolio of both companies as well as further operational measures to increase profitability. Forecast 2024: Significant growth in a challenging environment Despite the challenging economic development in the core markets of Germany, Austria and Switzerland, the Executive Board expects significant growth for the CANCOM Group. Customers' demands on IT service providers continue to increase. Trend topics such as cyber security, IoT, cloud, modern work and artificial intelligence are leading to a significant increase in demand for consulting and investment in infrastructure. For the 2024 financial year, CANCOM forecasts the following development for revenue, gross profit, EBITDA and EBITA:
As a hybrid IT service provider, CANCOM accompanies companies into the digital future. We support our customers in reducing the complexity of their IT and expanding their business success through the use of state-of-the-art technology. CANCOM offers tailor-made IT from A to Z from a single source to meet the IT needs of companies, organisations and the public sector. The CANCOM Group's range of IT solutions includes consulting, implementation, services and the operation of IT systems. Customers benefit from our extensive expertise and a holistic and innovative portfolio that covers the IT requirements necessary for the successful digital transformation of companies. As a hybrid IT integrator and service provider, we deliver a range of services and solutions that includes business solutions and managed services such as cloud computing, analytics, enterprise mobility, IT security, hosting and as-a-service offerings. The CANCOM Group's approximately 5,600 employees and an efficient partner network ensure market presence and customer proximity in Germany, Austria, Switzerland and Belgium, among other countries. The CANCOM Group is managed by Rüdiger Rath (CEO), Jochen Borenich (CSO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM generated revenue of around 1.5 billion euros in 2023. The Group parent company CANCOM SE is listed on the Frankfurt Stock Exchange in the SDAX and TecDAX (ISIN DE0005419105). Contact Lars Dannenberg Director Investor Relations +49 89 54054 5371 lars.dannenberg@cancom.de Please note If you do not wish to receive information from us by e-mail, please write to ir@cancom.de. Data protection notice You are receiving this message because you have been added to the CANCOM mailing list for investor information. You have been included because you have expressed the wish to be informed about company news in the past. CANCOM stores and processes personal data about you, such as your name and e-mail address, in order to be able to offer you this service. CANCOM stores and uses this data exclusively to keep itself informed about the development of investor communication and to be able to contact investors in the context of investor relations activities. General information on the use of data by CANCOM CANCOM will not pass on personal data collected in the course of investor relations activities to third parties without the express consent of the person concerned. The only exception to this rule is if CANCOM is requested to transmit data by competent authorities such as the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht). Even after you have consented to receive investor information from us and thus enabled CANCOM to store and use your personal data, you have the right to withdraw this consent at any time. All you need to do is send an informal message by e-mail to widerspruch@cancom.de or to ir@cancom.de. For more information about CANCOM's privacy policy, the contact person or your individual rights as a data subject, please visit our website https://www.cancom.de/datenschutz-cancom/ 28.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | CANCOM SE |
| Erika-Mann-Straße 69 | |
| 80636 Munich | |
| Germany | |
| Phone: | +49-(0)89/54054-0 |
| Fax: | +49-(0)89/54054-5119 |
| E-mail: | info@cancom.de |
| Internet: | http://www.cancom.de |
| ISIN: | DE0005419105 |
| WKN: | 541910 |
| Indices: | SDAX, TecDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1869327 |
| End of News | EQS News Service |
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