CANCOM SE
CANCOM: Outstanding growth rates in the second quarter and first half of 2021
DGAP-News: CANCOM SE
/ Key word(s): Quarter Results/Half Year Results
CANCOM: Outstanding growth rates in the second quarter and first half of 2021 – CANCOM Group increases revenue by 18.6 percent in the second quarter of 2021 and by 12.8 percent in the first half of 2021. – EBITDA up by 60.6 percent year-on-year in the second quarter and EBIT by 228.8 percent. This leads to growth rates of 37.2 percent for EBITDA and 96.4 percent for EBIT for the first half of the year. – Annual Recurring Revenue (ARR) maintains high growth speed and is 19.5 percent above the prior year’s figure. – Forecast for financial year 2021 confirmed on the basis of key financial figures adjusted for the sale of activities in the United Kingdom and Ireland. Munich, Germany, 12 August 2021 – The CANCOM Group achieved outstandingly high growth rates in revenue and earnings in the second quarter of the financial year 2021. Group revenue increased by 18.6 percent year-on-year to EUR 342.7 million (prior year: EUR 289.0 million). EBITDA reached EUR 32.3 million, representing a growth rate of 60.6 percent (prior year: EUR 20.1 million). The EBITDA margin for the CANCOM Group in the second quarter was thus 9.4 percent (prior year: 7.0 percent). With an increase of 228.8 percent, EBIT also rose exceptionally sharply compared to the same quarter last year, reaching EUR 17.4 million (prior year: EUR 5.3 million). With regard to the first half of 2021, this development marked CANCOM Group’s return to the dynamic growth of the periods before the Corona pandemic. Group revenue for the first half of the year was EUR 715.4 million, an improvement of 12.8 percent over the same period last year (prior year: EUR 634.3 million). EBITDA amounted to EUR 63.3 million, representing growth of 37.2 percent (prior year: EUR 46.1 million). While the increase in revenue was primarily generated in the traditional system house business and thus in the IT Solutions group segment, the Cloud Solutions group segment was once again the main driver of earnings on the basis of existing managed services contracts. “The current results show the clout of our approach of gaining market share through volume growth in the project business and at the same time increasing earnings with the very profitable ongoing operation of customer IT systems. In view of our continuing high order backlog and the results for the first half of the year, I see our business development returning to the dynamic growth trend of recent years – despite the global bottlenecks in hardware,” said Rudolf Hotter, CEO of CANCOM SE. The CANCOM Group’s cash flow from operating activities amounted to EUR -30.9 million in the first half of 2021, a strong improvement on the prior year’s figure (prior year: EUR -94.2 million). Without the existing high level of inventories to ensure the ability to deliver hardware, the improvement would have been even more significant. Cash and cash equivalents stood at EUR 264.8 million as of 30 June 2021 (31 December 2020: EUR 338.4 million). Group segments very much on target Annual forecast for 2021 confirmed again. New basis for comparison due to sale of activities in the United Kingdom and Ireland. “Based on the new prior-year figures and with the knowledge of the current very good development, we reconfirm our published forecast for the financial year 2021,” Hotter said. CANCOM had already reported that the sale of CANCOM LTD. would result in cash inflows of around EUR 390 million for the CANCOM Group in the third quarter. The deconsolidation of the subsidiary is also expected to result in a book gain of around EUR 225 million, which will be included in the CANCOM Group’s profit for the period in the third quarter. The complete interim report of CANCOM Group as of 30 June 2021 is published on the website www.cancom.de in the section Investors. 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 and the USA. The CANCOM Group is led by Rudolf Hotter (CEO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM generated revenue of around EUR 1.3 billion in the financial year 2020. Its parent company CANCOM SE is listed in the MDAX and TecDAX of the Frankfurt Stock Exchange (ISIN DE0005419105). Contact Note Data protection notification General information on the use of data by CANCOM
12.08.2021 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: | info@cancom.de |
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: | 1225938 |
End of News | DGAP News Service |