DGAP-News: CANCOM: Group revenue in the second quarter at the prior year's level. Noticeable improvements visible since June.
DGAP-News: CANCOM SE
/ Key word(s): Half Year Results/Half Year Report
CANCOM: Group revenue in the second quarter at the prior year's level. Noticeable improvements visible since June.
Munich, Germany, 11 August 2022 - As in the first quarter, the CANCOM Group's revenue development in the second quarter 2022 was hampered by the effects of insufficient availability of IT components. Overall, CANCOM generated Group revenue of € 298.8 million in the second quarter 2022, roughly matching the prior year's level (prior year*: € 303.6 million). Group EBITDA for the second quarter 2022 was € 24.7 million (prior year*: € 27.0 million). "We have struggled with very burdensome general conditions in the first half of 2022 and have therefore not been able to translate the potential of our record-high order backlog into growth. However, now that the reluctance of our public-sector clients has dissipated since June and there is a noticeable easing in the IT supply chain, we are seeing a turnaround in revenue development," said Rudolf Hotter, CEO of CANCOM SE. The CANCOM Group's cash flow from operating activities in the second quarter 2022 was € -49.8 million (prior year: € -19.0 million) and continued to reflect the consequences of the limited availability of IT components. In the first half of 2022, cash flow from operating activities thus amounted to € -126.1 million (prior year: € -30.9 million). During the second quarter, the Executive Board of CANCOM SE put the subsidiaries of the CANCOM Group in the USA up for sale and reclassified them accordingly as "held for sale" in the financial reporting for the current and prior financial year. The move continues the concentration of business activities on the DACH region. The CANCOM Group's US business had a revenue volume of € 18.5 million in 2021. Cloud Solutions dynamic, IT Solutions still burdened by supply chains In the IT Solutions segment, revenue in the second quarter 2022 was € 228.5 million (prior year*: € 248.5 million) and EBITDA was € 9.5 million (prior year*: € 13.8 million). The EBITDA margin in the segment was accordingly 4.2 percent (prior year*: 5.6 per cent). Positive outlook: Catch-up effects expected in the second half of the year Despite continuing major geopolitical and macroeconomic uncertainties, the Executive Board of CANCOM SE expects Group revenue and gross profit to increase significantly in the financial year 2022, as well as Group EBITDA and Group EBITA to increase significantly. The influence of the emerging economic slowdown and the geopolitical crises on the short-term business development of the CANCOM Group, which is difficult to assess, as well as the further development of the IT supply chain situation after the improvement that has now taken place, continue to be the main risks for the forecast. The complete half-year financial report 2022 of the CANCOM Group is published on the website www.cancom.de in the Investors section. *Note on comparative key figures About CANCOM The CANCOM Group’s range of IT solutions includes consulting, implementation, services, and the management of IT systems. Customers benefit from the extensive expertise as well as a holistic and innovative portfolio that covers the IT requirements that are necessary for a successful digital transformation. As a hybrid IT integrator and service provider, the Company provides an integrated range of services and solutions including business solutions and managed services, such as cloud computing, analytics, enterprise mobility, IT security, hosting, and as-a-service offerings. With more than 4,000 employees, CANCOM Group and its efficient partner network ensure market presence and customer proximity in Germany, Austria, Switzerland, Belgium and the USA. The CANCOM Group is led by Rudolf Hotter (CEO), Thomas Stark (CFO) and Rüdiger Rath (COO). The company is headquartered in Munich. CANCOM generated revenue of around EUR 1.3 billion in the financial year 2021. Its parent company CANCOM SE is listed in the MDAX and TecDAX of the Frankfurt Stock Exchange (ISIN DE0005419105). Contact
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11.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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: | [email protected] |
Internet: | http://www.cancom.de |
ISIN: | DE0005419105 |
WKN: | 541910 |
Indices: | MDAX, TecDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1418109 |
End of News | DGAP News Service |
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1418109 11.08.2022 CET/CEST
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