EQS-News: CANCOM: Around 11 percent growth in the third quarter of 2022
EQS-News: CANCOM SE
/ Key word(s): 9 Month figures
CANCOM: Around 11 percent growth in the third quarter of 2022
Munich, Germany, 10 November 2022 - In the interim statement published today for the period ending 30 September 2022, the preliminary key financial figures for the third quarter already published for the CANCOM Group were confirmed. Accordingly, in the third quarter of 2022 the CANCOM Group achieved Group revenues of € 329.6 million (prior year: € 297.7 million) and a Group EBITDA of € 28.9 million (prior year: € 32.6 million). For the nine-month period 2022, this means that the CANCOM Group achieved Group revenue of € 925.1 million (prior year: € 932.8 million) and Group EBITDA of € 80.0 million (prior year: € 85.5 million). The largest contribution to the CANCOM Group's revenue growth in the third quarter of 2022 came from the IT Solutions business segment. The Cloud Solutions business segment, on the other hand, continued to support EBITDA development in 2022 in particular. It also showed unchanged high momentum in the development of recurring revenue, which increased by 23.9 percent. "For CANCOM, the 2022 financial year has been exceptional in all areas, both in terms of revenue and earnings development as well as with regard to capital requirements. But in the third quarter we returned to our long-established growth path and this confirms my conviction: CANCOM operates with a very future-proof business model and the team has outstanding IT skills and technical expertise. I am delighted to now be able to lead this company as CEO and once again expressly thank my predecessor Rudi Hotter on behalf of CANCOM for 17 years of successful Executive Board work," said Rüdiger Rath, CEO of CANCOM SE. Rüdiger Rath is CEO of CANCOM SE since 1 November 2022 and was priorly a member of the Executive Board as COO. The CANCOM Group's cash flow from operating activities totalled € -43.6 million in the third quarter of 2022 (prior year: € -17.9 million), in particular due to the exceptionally high inventory levels in connection with the globally strained IT supply chains. ARR with high momentum and IT Solutions segment delivers double-digit growth In the IT Solutions segment, which includes the project-based IT as a Concept business, revenue in the third quarter of 2022 was 10.9 percent higher than in the same period of the prior year at € 260.3 million (prior year: € 234.7 million). EBITDA amounted to € 13.1 million (prior year: € 16.5 million). The EBITDA margin was correspondingly 5.1 percent (prior year: 7.0 percent), which was unusually high in the prior year. Acquisition of S&L Group, US business sold In addition, as part of its strategic focus on the DACH region, CANCOM sold the Group company HPM Incorporated in the third quarter and with it its business activities in the USA, which also no longer made a significant contribution to the CANCOM Group's revenue and earnings performance. Due to the reclassification of the results of the US business in the income statement to the item "profit after taxes from discontinued operations", the key financial figures of the CANCOM Group presented here have also already been adjusted for this effect for the prior year. Forecast 2022: Corridors for all forecast indicators
For the Cloud Solutions segment, the Executive Board is planning the following figures for the 2022 financial year:
For the IT Solutions segment, the Executive Board is planning the following figures for the 2022 financial year:
The complete interim statement of CANCOM Group for the third quarter of 2022 is published on the website www.cancom.de in the Investors section.
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 and Belgium. The CANCOM Group is led by Rüdiger Rath (CEO) and Thomas Stark (CFO). The company is headquartered in Munich, Germany. CANCOM generated revenue of around € 1.3 billion in the financial year 2021. Its parent company CANCOM SE is listed in the SDAX and TecDAX of the Frankfurt Stock Exchange (ISIN DE0005419105). Contact
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10.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - 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: | SDAX, TecDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1483857 |
End of News | EQS News Service |
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1483857 10.11.2022 CET/CEST
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