EQS-News

CANCOM SE: CANCOM publishes Annual Report 2023 and forecasts significant growth

EQS-News: CANCOM SE / Key word(s): Annual Report CANCOM SE: CANCOM publishes Annual Report 2023 and forecasts significant growth 28.03.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. CANCOM SE: CANCOM publishes Annual Report 2023 and forecasts significant growth

• Group revenue increases by 17.8 percent to € 1,522.7 million (prior year: € 1,292.9 million) and Group EBITDA to € 115.7 million (prior year: € 104.9 million).
• Cash flow from operating activities increases by € 148.2 million to € +94.6 million.
• The Executive Board and Supervisory Board propose a constant dividend of € 1.00.
• Forecast 2024: CANCOM Group expects significant growth.

Munich, Germany, 28 March 2024 – In the 2023 financial year, Group revenue increased by 17.8 percent to € 1,522.7 million. The CANCOM Group also achieved a significant increase in gross profit of 33.0 percent to € 582.3 million (prior year: € 437.9 million). EBITDA increased by 10.3 percent to € 115.7 million (prior year: € 104.9 million) despite one-off effects, while EBITA rose by 18.0 percent to € 64.1 million (prior year: € 54.3 million).

"Thanks to our successful acquisition strategy, we closed the 2023 financial year with significant growth," summarises Rüdiger Rath, CEO of CANCOM SE. "At the same time, we have implemented the operational improvements we had planned step by step. Our new ERP system was introduced in the 2023 financial year and we expect it to have a positive impact in the coming years. The efficiency and profitability programme for 2023 has been completed and the high capital commitment at the beginning of the year is decreasing. We are starting the new financial year in a good position and are therefore proposing a constant dividend of € 1.00 per share."

In the forecast for the development of the CANCOM Group in the 2024 financial year, the Executive Board forecasts, among other things, growth in consolidated revenue to € 1.750 million to € 2,000 million and that consolidated EBITDA will reach a value of € 130 million to € 155 million.

Fiscal year ended with strong cash flow from operating activities, strong development in the International segment

Cash flow from operating activities developed extremely positively, increasing by € 148.2 million year on year to € +94.6 million (prior year: € -53.6 million). Cash and cash equivalents were at a comfortable level of € 222.5 million at the end of the year (prior year: € 393.2 million) after payments of € 107.6 million for company acquisitions and expenditure of € 71.6 million for the 2023 share buy-back programme.