DGAP-News

CANCOM: First quarter lays good foundation for meeting full-year forecast

DGAP-News: CANCOM SE / Key word(s): Quarter Results/Quarterly / Interim Statement CANCOM: First quarter lays good foundation for meeting full-year forecast 12.05.2021 / 08:00 The issuer is solely responsible for the content of this announcement. CANCOM: First quarter lays good foundation for meeting full-year forecast

- CANCOM achieves 7.9 percent revenue growth, 19.2 percent EBITDA growth and 37.0 percent EBIT growth in the first quarter of 2021.

- Annual Recurring Revenue (ARR) increases by 18.6 percent compared to the prior year to EUR 224.3 million.

- Cash flow from operating activities strongly improved.

- Positive annual forecast for financial year 2021 confirmed.

Munich, Germany, 12 May 2021 - In the first quarter of 2021, the CANCOM Group laid a good foundation for achieving its forecast for the year. At EUR 372.7 million, Group revenue was up 7.9 percent on the already outstandingly high figure for the prior year (prior year: EUR 345.3* million). In organic terms, i.e. excluding acquisitions, revenue growth was 6.9 percent. In terms of EBITDA, CANCOM achieved year-on-year growth of 19.2 percent to EUR 31.0 million (prior year: EUR 26.0 million). The organic figure was 17.4 percent. The EBITDA margin was correspondingly 8.3 percent in the first quarter of 2021 (prior year: 7.5 percent). EBIT rose by 37.0 percent to EUR 16.2 million (prior year: EUR 11.8 million).
Revenue growth was primarily characterised by significant increases in the IT Solutions segment. In contrast, the Cloud Solutions segment was the main driver of the increase in EBITDA.

"In a quarter with a continuous lockdown in Germany, we have exceeded the prior year's figures in terms of revenue and earnings, even though the same quarter last year was without any restrictions related to the pandemic. With this tailwind we are confident going into the rest of the year," said Rudolf Hotter, CEO of CANCOM SE.

Cash flow from operating activities amounted to EUR -11.9 million in the first quarter of the current financial year (prior year: EUR -60.4 million). The operating cash flow was thus significantly improved not only compared to the exceptional value of the same quarter of the prior year, but also compared to the level of the comparable quarters of 2019 and 2018. Cash and cash equivalents stood at EUR 299.5 million as at 31 March 2021 (31 December 2020: EUR 338.4 million).