MUNICH (dpa-AFX) - Due to the takeover of Austrian KBC Beteiligungs GmbH, IT services provider Cancom is raising its annual forecast. As of June 1, KBC is to be consolidated, Cancom announced in Munich on Thursday. For the full year, Cancom's board of directors therefore now expects sales of between 1.63 and 1.7 billion euros, up from the maximum 1.39 billion euros previously forecast. Of the earnings, 131 to 141 million euros are to remain before interest, taxes, depreciation and amortization, instead of the previous maximum of 124 million euros. According to a trader's initial assessment, Cancom would thus already achieve its targets this year, which were actually not announced until 2024. The SDax-listed stock rose four percent in response to the news, having previously been virtually unmoved.

KBC is the parent company of K-Businesscom, which Cancom says is "Austria's leading ICT solution and service provider." The company reported sales of just over half a billion euros and earnings before interest, taxes, depreciation and amortization of 28 million euros in the past fiscal year, with 1650 employees./lew/mis