DGAP-News: cyan AG publishes consolidated financial statements for 2019 with significant growth in revenue and EBITDA
DGAP-News: cyan AG
/ Key word(s): Annual Results
cyan AG publishes consolidated financial statements for 2019 with significant growth in revenue and EBITDA - Total revenues increase by +57% to EUR 32.5 million (2018: EUR 20.7 million) - EBITDA reaches new record level of EUR 11.7 million (2018: EUR 3.0 million; +285 %) - Integration of i-new completed - Organizational set-up for international rollout completed - First fully audited IFRS consolidated financial statements published
cyan AG was able to achieve many important successes in 2019: The restructuring and integration of i-new, which was acquired in 2018, was completed and the technical areas were combined, which resulted in significantly more stable IT platforms and increased customer satisfaction from Q4/2019 onwards. Furthermore, contracts were concluded with ACN and Wirecard. Magenta Austria (formerly T-Mobile Austria) prematurely extended its contract until 2022 and is going to launch several new security services in the current year. In order to be adequately positioned for the further rollout of the seamless security products, the organization was expanded and considerably enlarged with many experienced newcomers - some from direct competition. Internal and external reporting as well as company processes were significantly improved - all of this contributed to the fact that cyan continues to implement the technical solutions for its customers almost unaffected by the Covid-19 crisis. Total revenue in 2019 rose by 57% from EUR 20.7 million in the previous year to EUR 32.5 million. EBITDA increased by 285 % to EUR 11.7 million (2018: EUR 3.0 million). Thus, cyan achieved an EBITDA margin[1] of 44 % after 34 % in the previous year. Consolidated net income totaled EUR 4.5 million (2018: EUR -0.6 million). Earnings per share reached EUR 0.49 after EUR -0.07 in the previous year.
b Calculated as EBITDA or EBIT divided by revenues
Overall, the Management Board therefore expects revenues and EBITDA for 2020 to be at least at the level of the previous year. Significant growth rates should be possible again in 2021. Peter Arnoth, CEO of cyan AG: "The contract with Orange was and is an immense validation of our technology and has opened new perspectives for us. We have been working intensively over the last few months to position ourselves optimally in the market and to be prepared for strong customer demand. The Covid-19 crisis certainly casts a shadow on our efforts. However, not least due to the successfully implemented capital measure in July 2019, during which new shares worth almost EUR 25 million were issued, we are entering this challenging phase well equipped and remain very confident for the medium-term future."
cyan AG (XETR: CYR) is a leading, globally active provider of intelligent IT security solutions and telecom services with more than 15 years of experience in the IT industry. The main business areas of the company are cybersecurity solutions for end customers of mobile and fixed network internet service providers (MNO), virtual mobile network operators (MVNO) as well as banks and insurance companies. cyan's solutions are integrated into the business partner's infrastructure and then offered to their end customers ("B2B2C") under their name ("white-labeled"). Today, the group of companies has more than 50 international customers, through which cyan products are sold to approximately 8 million end customers. cyan can offer products along the entire value chain from platform, data optimization to cyber security. In addition, cyan operates its own Research & Development Centre with the aim of identifying trends in the industry at an early stage and developing optimal product solutions. In December 2018, cyan was able to win a global group contract with Orange in an international tendering process. cyan's cooperation partners include the world's leading insurance broker Aon and the payment service provider Wirecard. Further information is available at www.cyansecurity.com. Investor Contact: Press Contact:
29.04.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | cyan AG |
Friedrich-Herschel-Strasse 5 | |
80679 Munich | |
Germany | |
Internet: | www.cyansecurity.com |
ISIN: | DE000A2E4SV8 |
WKN: | A2E4SV |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1033261 |
End of News | DGAP News Service |
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1033261 29.04.2020
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