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CANCOM SE: Satisfactory earnings development despite revenue decline in the first quarter of 2022. Annual forecast now more defensive.

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DGAP-News: CANCOM SE / Key word(s): Quarter Results/Change in Forecast
CANCOM SE: Satisfactory earnings development despite revenue decline in the first quarter of 2022. Annual forecast now more defensive.
03.05.2022 / 20:00
The issuer is solely responsible for the content of this announcement.

CANCOM SE: Satisfactory earnings development despite revenue decline in the first quarter of 2022. Annual forecast now more defensive.

Munich, Germany, 3 May 2022 - The CANCOM Group today published preliminary key financial figures for the first quarter of 2022. According to these figures, Group EBITDA rose to € 27.2 million in the first quarter of 2022 (prior year: € 25.6 million) despite Group revenue of € 300.9 million (prior year: € 337.2 million).

"We were able to increase EBITDA by more than 6 per cent in the first quarter and thus generate a satisfactory quarterly result, although we recorded a decline in revenue. This increase in earnings was possible because our operating result is primarily determined by the services and IT-as-a-Service business. But above all, the well-known supply bottlenecks for IT hardware are an obstacle to growth for us. Customer demand remains high and so does our order book. However, contrary to our expectations, the supply situation in the IT market has deteriorated further, for example due to the lockdowns in Asia, and the changed political environment is also leading to delays in public sector orders in Germany," said Rudolf Hotter, CEO of CANCOM SE.

According to preliminary figures for the first quarter of 2022, the CANCOM Group achieved Group revenue of € 300.9 million (prior year: € 337.2 million). Group gross profit rose to € 109.5 million in the first quarter of 2022 (prior year: € 104.9 million) and Group EBITDA was up on the prior year at € 27.2 million (prior year: €25.6m). The EBITDA margin for the first quarter of 2022 was 9.0 percent (prior year: 7.6 percent). Group EBITA was € 17.3 million (prior year: € 16.9 million).

"We had pointed out the increased uncertainty associated with the forecast this year when we published our annual forecast. Unfortunately, due to the situation in the IT hardware supply chain, we have now had to be more defensive about the forecast. We continue to expect growth in revenue and operating profit in the 2022 financial year. However, the shortage of hardware is not only affecting project business, but also new business in our IT-as-a-service offerings. Therefore, we now expect significant growth in all of our forecast metrics, except for Annual Recurring Revenue, which we continue to see with very significant growth," said Hotter.

The full interim announcement of CANCOM Group for the first quarter of 2022 will be published on 12 May 2022 on the website www.cancom.de in the Investors section.

About CANCOM
As a Digital Transformation Partner, CANCOM accompanies organizations into the digital future. CANCOM supports customers to simplify complex enterprise IT and increase their business success through the implementation of modern technology. In order to comprehensively meet the IT needs of companies, organizations, and the public sector, CANCOM delivers tailor-made IT end to end from a single source.
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, Belgium and the USA. The CANCOM Group is led by Rudolf Hotter (CEO), Thomas Stark (CFO) and Rüdiger Rath (COO). The company is headquartered in Munich. CANCOM generated revenue of around EUR 1.3 billion in the financial year 2021. Its parent company CANCOM SE is listed in the MDAX and TecDAX of the Frankfurt Stock Exchange (ISIN DE0005419105).

Contact
Sebastian Bucher
Manager Investor Relations
+49 89 54054 5193
sebastian.bucher@cancom.de

 

Note
If you do not wish to receive information from us via e-mail, please write to ir@cancom.de.

Data protection notification
You are receiving this invitation because you are included in the CANCOM investor information e-mail distribution list. You have been included as you have indicated in the past to be informed about company news. For this reason CANCOM stores and processes personal data like name and e-mail address to be able to provide to you this service. CANCOM stores and uses this data solely to obtain information about the development of the shareholder communication and to be able to contact investors as part of the investor relations activities.

General information on the use of data by CANCOM
CANCOM will not pass on personal data obtained in the course of investor relations activities to third parties without the express consent of the person concerned. The only exception to this rule is that CANCOM receives a request for data transmission from competent authorities such as the Federal Financial Supervisory Authority.
Even after you have agreed to receive investor information from us and thus permitted CANCOM to store and use your personal data, you have the right to revoke this agreement at any time. All you need to do is send an informal message by e-mail to widerspruch@cancom.de or to ir@cancom.de
For any further information about CANCOM's privacy policy, who to contact or your individual rights as a data subject, please visit our website https://www.cancom.com/privacy-protection/


03.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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:

1342663


 

End of News

DGAP News Service

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