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
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- 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.