EQS-News

CANCOM: CANCOM Group starts the 2024 financial year with significant growth

EQS-News: CANCOM SE / Key word(s): Quarterly / Interim Statement CANCOM: CANCOM Group starts the 2024 financial year with significant growth 14.05.2024 / 07:59 CET/CEST The issuer is solely responsible for the content of this announcement. CANCOM: CANCOM Group starts the 2024 financial year with significant growth

• Group revenue rises significantly by 38.7 percent to €440.6 million
• Operating cash flow around €100 million higher than in the same quarter of the previous year and thus at a historic record high of €+56.3 million in the first quarter
• Executive Board confirms forecast for the financial year

Munich, Germany, 14 May 2024 – The CANCOM Group has started the 2024 financial year with significant growth at Group level. Revenue increased by 38.7 percent to € 440.6 million in the first quarter of 2024 (previous year: €317.7 million). Gross profit increased disproportionately, rising by 46.2% to €171.0 million (previous year: €117.0 million). EBITDA was also up significantly at €30.4 million (previous year: €24.1 million) and EBITA at €16.9 million (previous year: €13.5 million). The “International” segment, which accounts for the majority of the CANCOM Austria Group's contribution, performed particularly well.

“CANCOM has made a good start to the year: in the first quarter we have seen the restraint that is the result of the weak economic development and the reluctance of public sector clients to place orders, particularly in Germany,” says Rüdiger Rath, CEO of CANCOM SE, summarising the first quarter. “In our major international market, the development was extremely positive thanks to the contribution of the CANCOM Austria Group and demand for our strategic focus areas, especially Security & Networking and AI, remains strong.”

Operating cash flow improved significantly
At €+56.3 million, cash flow from operating activities was significantly higher than the previous year's figure of €-43.6 million and improved accordingly by around €100 million. Significantly lower trade receivables and a substantial reduction in inventories were responsible for the significant improvement.