EQS-News cyan AG publishes interim report 2022
EQS-News: cyan AG / Key word(s): Half Year Report
cyan AG publishes interim report 2022
Munich, September 28, 2022 – cyan AG (XETR: CYR), a leading European and global provider of intelligent cybersecurity solutions and BSS/OSS platform services for the telecommunications industry, announced the publication of its financial report for the first half of 2022. Revenues increased to EUR 4.1 million in the first half of the year compared to EUR 3.5 million in the previous year. EBITDA amounted to EUR -4.0 million (H1 2021: EUR -7.4 million).
"We were able to achieve very good progress on projects in the past months; we onboarded or launched a total of six customers. Some projects with existing and newly acquired customers continue to be implemented. At the same time, we were able to develop new features for our customers, expand our domain of deployment and thus also drive our business forward," explained Frank von Seth, CEO of cyan AG. "This is reflected in increased revenues and higher recurring revenues. At the same time, our costs remained stable at reduced levels as we expected after the Performance Improvement Program."
The increase in sales in the first half of 2022 was generated in both business segments. In the BSS/OSS segment, which is larger in terms of revenue share (63%), revenue was EUR 2.6 million compared to EUR 2.2 million in the previous year. At EUR 1.5 million (H1 2021: EUR 1.4 million), the Cybersecurity segment generated around 37% of group revenues.
After taking into account deferred tax income, consolidated net income amounted to EUR -2.7 million (H1 2021: EUR -7.8 million), resulting in undiluted earnings per share of EUR -0.19, compared with EUR -0.75 in the first half of the previous year.
|Earnings Figures (in EUR million)||H1 2022||H1 2021|
|EBITDA||‑ 4.0||‑ 7.4|
|EBIT||‑ 6.9||‑ 10.2|
|Net income/loss||‑ 2.7||‑ 7.8|
|Earnings per share (undiluted, in EUR)||‑ 0.19||‑ 0.75|