EQS-Adhoc

Ad-hoc: Cantourage Group SE records strong growth in 2024 since the partial legalisation of cannabis came into force

EQS-Ad-hoc: Cantourage Group SE / Key word(s): Quarter Results Ad-hoc: Cantourage Group SE records strong growth in 2024 since the partial legalisation of cannabis came into force 15-May-2024 / 07:44 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Not for release, publication or distribution, directly or indirectly, in or into the United States of America, Australia, Canada or Japan or any other jurisdiction in which such release, publication or distribution would be unlawful. The important notes at the end of this announcement must be observed.

 

Ad-hoc: Cantourage Group SE records strong growth in 2024 since the partial legalisation of cannabis came into force

 

• Revenue in April 2024 increased by around 160% compared to the same month last year
• Significant increase in the number of cannabis patients recorded due to partial legalisation in April 2024
• Continued strong growth expected in financial year 2024

 

Berlin, 15 May 2024 – Cantourage Group SE (hereinafter “Cantourage,” ISIN: DE000A3DSV01, www.cantourage.com), a leading European cannabis production and distribution company, recorded a significant increase in demand and revenue growth of approximately 160% in April 2024 compared to the same month last year. Revenue growth in the first quarter of 2024 remained below expectations at approx. 26 % compared to the same period of the previous year (revenue in Q1 2024: EUR 6.2 million, revenue in Q1 2023: EUR 4.8 million) due to the uncertain legal situation.

 

Due to the changes resulting from the “Cannabis Act,” Cantourage assumes that significant growth in revenue can be achieved in 2024 as a whole. The company expects the “Cannabis Act” to provide significant impetus for medical cannabis in 2024, as it is no longer a narcotic. This will lead to simplifications in dispensing by pharmacies and prescriptions by doctors. It is not yet possible to estimate how the trend will develop and how strongly it will affect Cantourage’s revenue and earnings performance. In principle, however, Cantourage expects to benefit greatly from the new legal framework in 2024 as a whole.