(BRIEF) The CANCOM Group concluded the 2023 monetary year with remarkable monetary results, adding a 17. 8% increase in profit to €1,522. 7 million and a notable increase in EBITDA to €115. 7 million. CEO Rüdiger Rath attributes this good fortune to the strategy of acquisitions and operational improvements, such as the implementation of a new ERP system. The Group expects to continue its expansion in 2024, with a profit of between €1,750 million and €2,000 million and an EBITDA between €130 and 155 million, despite the economic crisis. demanding situations in its core markets. Integration efforts with the recently acquired KBC Group are progressing well, positioning CANCOM for further expansion and increased profitability in the coming year.
(PRESS RELEASE) MUNICH, March 28, 2024 — /EuropaWire/ — CANCOM (ETR: COK), a leading provider of hybrid IT services, announces that in fiscal 2023, the Group’s cash accumulation increased by 17. 8% to €1,522. 7 million. CANCOM Group also achieved a significant increase in gross profit of 33. 0% consistent with the cent to €582. 3 million (previous year: €437. 9 million). EBITDA growth increased by 10. 3 percent to €115. 7 million (previous year: €104. 9 million) despite one-off effects, while EBITA accumulation increased by 18. 0 percent to €64. 1 million (previous year: €54. 3 million).
“Thanks to our successful acquisition strategy, we closed the 2023 financial year with significant growth,” sums up Rüdiger Rath, Managing Director of CANCOM SE. “At the same time, we implemented step by step the national innovations we had planned. Our new ERP formula was introduced in fiscal year 2023 and we expect it to have a positive effect in the coming years. The power and profitability program for 2023 has been finalized and the maximum capital commitment at the beginning of the year is decreasing. They start the new monetary year in a smart position and therefore propose a constant dividend of €1. 00 per share.
In the direction of the CANCOM Group’s progress for the 2024 financial year, the Board of Directors foresees, among other things, an increase in consolidated profit from €1,750 million to €2,000 million and a consolidated EBITDA that will reach a value of €130 million to €155 million.
The year ended with strong operating money and strong expansion in the international segment.
Cash from operating activities performed incredibly positively, increasing from €148. 2 million year-on-year to €94. 6 million (previous year: -€53. 6 million). Cash and cash equivalents stood at a comfortable €222. 5 million at the end of the year. Year (previous year: €393. 2 million) after invoices of €107. 6 million for company acquisitions and expenses of €71. 6 million for the 2023 percentage buyback program.
For the first time for the full year, the “Germany” and “International” business segments were presented in the CANCOM Group’s monetary information. In the “Germany” segment, sales amounted to €1,135. 8 million (previous year: €1,171. 7 million). EBITDA was diluted through one-off prices totalling €10. 2 million to €81. 1 million (previous year: €90. 9 million). EBITDA margin was 7. 1 percent (previous year: 7. 8 percent).
The contribution of the CANCOM Austria Group marked the progression of the “International” segment. Sales amounted to €386. 9 million (previous year: €121. 2 million) and with an EBITDA of €34. 6 million (previous year: €13. 9 million), an EBITDA margin of 9. 0% was achieved.
The integration of the KBC Group moves forward
The integration of the KBC Group, which operates under the name CANCOM Group Austria since January 1, 2024, has progressed well in recent months. The first joint annual accounts published in combination with the annual report are another vital step in the integration of the two corporations. In 2024, they will be in joint progress in the market with the combined and expanded portfolio of the two corporations, as well as additional operational measures to increase profitability.
2024 Forecast: Significant Expansion in a Challenging Environment
Despite challenging economic developments in the key markets of Germany, Austria and Switzerland, the control expects significant expansion for the CANCOM group. Customer requests to IT service providers continue to increase. Hot topics such as cybersecurity, IoT, cloud, modern work, and synthetic intelligence are driving a significant increase in demand for consulting and infrastructure investment. For fiscal 2024, CANCOM expects the following adjustments to revenue, gross margin, EBITDA and EBITA:
ABOUT COMCAN
As a leading hybrid ITArray provider, CANCOM supports organizations in the virtual future. We help our consumers simplify complex business IT and build their business success by implementing modern technologies. To comprehensively meet the IT desires of businesses, organizations and the public sector, CANCOM delivers end-to-end customized IT from a single source. The CANCOM Group’s diversity of IT responses includes consulting, implementation and operation of IT systems. Clients benefit from deep expertise as well as a holistic, cutting-edge portfolio that covers the IT needs mandatory for a successful virtual transformation. As an integrator and hybrid IT service provider, we offer a built-in diversity of solutions, aggregating business answers and controlled variety such as cloud computing, analytics, enterprise mobility, security IT, hosting and as-a-service offerings. The more than 5,600 employees of the CANCOM Group active around the world with around 80 offices in the DACH region, Belgium, Slovakia, Romania and the Czech Republic, as well as an effective spouse network, guarantee market presence and proximity to consumers. The CANCOM Group is led by Ruediger Rath (CEO), Jochen Borenich (CSO) and Thomas Stark (CFO). The company’s headquarters are located in Munich. CANCOM generated an annual turnover of approximately €1. 3 billion in 2022. The parent company of the CANCOM SE group is indexed on the Frankfurt Stock Exchange under the names TecDAX and SDAX (ISIN DE0005419105).
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SOURCE: CANCOM SE
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