EQS-News

Cantourage Group SE records strong growth in revenue and EBITDA in the break-even range in 2023. Strong growth since the partial legalisation of cannabis came into force.

EQS-News: Cantourage Group SE / Key word(s): Annual Results/Quarter Results Cantourage Group SE records strong growth in revenue and EBITDA in the break-even range in 2023. Strong growth since the partial legalisation of cannabis came into force. 15.05.2024 / 08:00 CET/CEST 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.

 

Cantourage Group SE records strong growth in revenue and EBITDA in the break-even range in 2023. Strong growth since the partial legalisation of cannabis came into force.

 

• Revenue increased by 67% in financial year 2023 compared to the previous year
• Operating result (EBITDA) in the break-even range in 2023
• 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 company for the production and distribution of cannabis, increased its revenue by approx. 67% in financial year 2023 compared to the previous year to EUR 23.6 million (2022: EUR 14.2 million). The operating result (EBITDA) improved by more than EUR 2.0 million in 2023 compared to the same period of the previous year (2022: EUR -2.5 million) and is thus in the break-even range. While revenue growth in the first quarter of 2024 remained below expectations at around 26% compared to the prior-year period (revenue in Q1 2024: EUR 6.2 million, revenue in Q1 2023: EUR 4.8 million) due to the uncertain legal situation, Cantourage recorded a significant increase in demand in April 2024 and achieved revenue growth of around 160% compared to the same month of the previous year.