DGAP-News: CANCOM SE: Significant revenue growth in the third quarter: EBITDA almost at last year's level
DGAP-News: CANCOM SE
/ Key word(s): 9 Month figures
CANCOM: Significant revenue growth in the third quarter: EBITDA almost at last year's level - CANCOM increases Group revenue in the third quarter by 8.8 percent to EUR 395.0 million (previous year: EUR 363.0 million) - Significant recovery of EBITDA after a second quarter marked by a lockdown; EBITDA at EUR 31.5 million (previous year: EUR 33.6 million) - Annual Recurring Revenue (ARR) increases by 24.5 percent to EUR 194.0 million at the end of September Munich, 12 November 2020 - In the third quarter of 2020, the CANCOM Group generated consolidated revenues of EUR 395.0 million. This represents an improvement of 8.8 percent over the previous year (previous year: EUR 363.0 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) were EUR 31.5 million in the third quarter, compared with EUR 33.6 million in the previous year. The previous year's EBITDA includes a positive one-off effect of EUR 1.6 million from the sale of a property. Compared to the previous quarter, EBITDA rose by 56.7 percent (previous quarter: EUR 20.1 million). The EBITDA margin in the third quarter was therefore 8.0 percent. CANCOM showed a clear improvement over the second quarter of 2020, which was marked by the corona pandemic. "We achieved a very solid result in the third quarter and improved significantly compared to the second quarter. In addition, we currently have a strong order intake for IT infrastructure and from the public sector, which are significantly above the levels of 2019. However, in the fourth quarter we expect to see further restrictions in the high-margin consulting and service business on site at our customers due to the pandemic," said Rudolf Hotter, CEO of CANCOM SE. 9-month figures 2020 The CANCOM Group's EBITDA in the first nine months of 2020 was EUR 77.6 million (previous year: EUR 87.2 million). The EBITDA margin was thus 6.4 percent (previous year: 7.7 percent). Cloud Solutions grows 24.6 percent, IT Solutions by 4.7 percent The Group segment IT Solutions contributed to the revenue with sales of EUR 962.5 million in the first nine months of 2020 (previous year: EUR 919.1 million). This represents a growth rate of 4.7 percent. EBITDA amounted to EUR 36.2 million (previous year: EUR 47.6 million). The EBITDA margin was 3.8 percent (previous year: 5.2 percent). Forecast for the full year For the Group segment Cloud Solutions, the Management Board expects a significant increase in sales, gross profit, EBITDA and EBITA. With regard to Annual Recurring Revenues (ARR), the Management Board expects a significant increase compared with the figure for December 2019. The Management Board expects a significant increase in revenues for the Group segment IT Solutions. Gross profit is expected to increase moderately. CANCOM also anticipates a very significant decline in EBITDA and EBITA. CANCOM Group's complete interim report has been published in the Investors section of the Company's website at www.cancom.de. 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).
Note Data protection notice General information on the use of data by CANCOM Contact Florian Mangold Specialist Investor Relations Tel: +49 89 54054 5511 E-Mail: [email protected]
12.11.2020 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: | 1147535 |
End of News | DGAP News Service |
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1147535 12.11.2020
Cancom SE Stock
With 6 Buy predictions and not the single Sell prediction the community is currently very high on Cancom SE.
As a result the target price of 37 € shows a positive potential of 28.83% compared to the current price of 28.72 € for Cancom SE.