DGAP-News: CANCOM: 8.2 percent revenue growth in the first half year, but second quarter burdened as announced
DGAP-News: CANCOM SE
/ Key word(s): Half Year Results/Quarter Results
CANCOM: 8.2 percent revenue growth in the first half year, but second quarter burdened as announced - CANCOM grows by 8.2 percent in the first half of 2020, despite difficult conditions. In the second quarter, however, Group revenue is 8.6 percent below prior year's figure. - Profitability burdened by growth effects and one-off special items. EBITDA margin in the first half year at 5.6 percent. - Annual Recurring Revenue (ARR) grows by 31.6 percent compared to the prior year to EUR 191.4 million. - Executive Board sees a good chance of achieving the revenue and EBITDA forecasts. Munich, Germany, 13 August 2020 - In a difficult environment marked by the corona pandemic, the CANCOM Group was able to increase Group revenue in the first half of 2020 by 8.2 percent to EUR 825.9 million (prior year: EUR 763.5 million). Without acquisition effects, i.e. organically, revenue growth was 3.8 percent. "We are very satisfied with revenue growth of 8.2 percent in this economic environment, especially in comparison with the high figures of the prior year. I would like to thank our customers, of course, but above all our employees for making this possible in these times. Even during the peak phase of the corona measures, we were fully operational and, thanks to our AHP platform, at times had a homework rate of over 90 percent," said Rudolf Hotter, CEO of CANCOM SE. The group segment Cloud Solutions contributed EUR 168.6 million to group revenue in the first half of 2020 with revenue growth of 27.4 percent (prior year: EUR 132.4 million). EBITDA rose by 15.1 percent to EUR 36.6 million (prior year: EUR 31.8 million). "We are convinced of the good future prospects for both IT Solutions and Cloud Solutions and, as a consequence, geared our structures to higher business volumes, especially in IT services. However, the corona protection measures mean that on-premise services in particular could often not be provided or could only be provided with delays. We therefore also expect to see catch-up effects in the second half of the year," explained Hotter. Second quarter brings decline in revenue and earnings as announced In the second quarter of 2020 CANCOM achieved consolidated revenue of EUR 372.0 million (prior year: EUR 406.9 million). Compared with the particularly strong figure for the prior year, this represented a decline of 8.6 percent. EBITDA in the second quarter was EUR 20.1 million, 29.5 percent lower (prior year: EUR 28.5 million). The EBITDA margin accordingly amounted to 5.4 percent (prior year: 7.0 percent). The group segment Cloud Solutions achieved revenue growth of 20.1 percent year-on-year to EUR 81.1 million in the second quarter of 2020 (prior year: EUR 67.6 million). EBITDA rose to EUR 17.8 million and thus by 11.2 percent (prior year: EUR 16.0 million). Forecast unchanged Uncertainty about future economic development remains high. The Executive Board of CANCOM SE considers a normalization of economic activity to be a basic prerequisite for achieving the annual forecast. However, in view of expected catch-up effects and the current order situation, the Executive Board still sees good chances of meeting the existing forecast for the CANCOM Group's economic development in 2020. The complete half-year report of the CANCOM Group 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 worldwide, the internationally active CANCOM Group and its efficient partner network ensure market presence and customer proximity in Germany, Austria, Switzerland, Belgium, Great Britain, and the USA. The CANCOM Group is led by Rudolf Hotter (CEO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM has an annual revenue of around EUR 1.5 billion and its parent company, CANCOM SE, is listed in the MDAX and TecDAX of the Frankfurt Stock Exchange (ISIN DE0005419105). Contact Note Data protection notice General information on the use of data by CANCOM
13.08.2020 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: | 1117041 |
End of News | DGAP News Service |
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1117041 13.08.2020
Cancom SE Stock
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