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    COK   DE0005419105

CANCOM SE

(COK)
  Report
Delayed Quote. Delayed Xetra - 01/21 11:35:07 am
54.76 EUR   -5.03%
01/17CANCOM SE : Release of a capital market information
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01/13CANCOM : Raised to Buy by Warburg Research
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01/10CANCOM SE : Release of a capital market information
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PRESS RELEASE : CANCOM SE: Improved service business and high margin in trading business drive EBITDA margin

11/11/2021 | 03:17am EST

DGAP-News: CANCOM SE / Key word(s): 9 Month figures CANCOM SE: Improved service business and high margin in trading business drive EBITDA margin 2021-11-11 / 08:04 The issuer is solely responsible for the content of this announcement.

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- Group revenue in the third quarter of 2021 up 5.6 percent year-on-year at EUR 302.6 million.

- EBITDA in the third quarter rises by 30.4 percent year-on-year to EUR 32.3 million. EBITDA margin thus at 10.7 percent.

- Annual Recurring Revenue (ARR) as of September 30 was up 23.6 percent year-over-year.

- Annual forecast for 2021 already raised on 27 October 2021.

Munich, Germany, 11 November 2021 - In the third quarter of 2021, the CANCOM Group achieved an EBITDA margin of 10.7 percent. This extraordinarily high level of profitability was achieved primarily due to an increase in revenue and margin in the service business, as well as a very good margin in the sale of hardware and software. Overall, the CANCOM Group's revenue in the third quarter of 2021 increased by 5.6 percent year-on-year to EUR 302.7 million (prior year: EUR 286.6 million). Organically, i.e. without the influence of acquired companies, the growth rate was 3.0 percent. EBITDA amounted to EUR 32.3 million in the third quarter, an increase of 30.4 percent year-on-year (prior year: EUR 24.8 million). EBIT amounted to EUR 20.7 million in the same period and was thus 44.6 percent higher than in the prior year (prior year: EUR 14.3 million).

"In view of the market environment with weakening GDP forecasts and the well-known supply bottlenecks for hardware, it is once again evident that the megatrend towards digitalisation is unbroken and that a state-of-the-art IT service portfolio is the key to our success. In addition, the availability of various hardware products was noticeably limited, which, on the one hand, led to an enormously high order backlog that still has to be processed. On the other hand, we were in a very good negotiating position when it came to pricing existing products in the quarter just ended," said Rudolf Hotter, CEO of CANCOM SE.

At the end of the third quarter, the results for the CANCOM Group for the period from 1 January to 30 September 2021 are as follows: Group revenue amounted to EUR 947.9 million, an increase of 12.9 percent year-on-year (prior year: EUR 839.3 million). The organic share of this growth was 10.9 percent. Group EBITDA amounted to EUR 84.6 million, up 39.7 percent on the prior-year figure (prior year: EUR 60.5 million). The EBITDA margin was thus 8.9 percent (prior year: 7.2 percent). Group EBIT for the nine-month period rose by 71.1 percent to EUR 52.1 million (prior year: EUR 30.5 million).

Cloud and IT Solutions show exceptionally high profitability

In the Cloud Solutions segment, in which CANCOM maps the Managed Services business and the associated recurring revenues, the third quarter of 2021 brought a 4.2 percent increase in segment revenue to EUR 63.0 million (prior year: EUR 60.4 million). Segment EBITDA increased by 18.7 percent to EUR 20.1 million in the same period (prior year: EUR 16.9 million). The EBITDA margin for the segment was 31.9 percent (prior year: 28.0 percent). Annual Recurring Revenue (ARR), which also arises entirely in the Cloud Solutions segment, totalled EUR 170.4 million as of 30 September 2021, up 23.6 percent year-on-year (30 September 2020: EUR 137.9 million). As a result, the Cloud Solutions segment stands at revenue growth of 3.8 percent for the nine-month period, or revenue of EUR 176.9 million (prior year: EUR 170.4 million), EBITDA growth of 20.3 percent to EUR 55.4 million (prior year: EUR 46.0 million), and thus an EBITDA margin of 31.3 percent.

The Group segment IT Solutions, which is characterized by the IT project business, achieved growth in segment revenue of 6.0 percent to EUR 239.7 million in the third quarter of 2021 (prior year: EUR 226.1 million). At EUR 16.1 million, segment EBITDA was up 36.8 percent on the prior-year figure (prior year: EUR 11.8 million). The segment EBITDA margin thus amounted to 6.7 percent (prior year: 5.2 percent). In the nine-month period, revenues in the IT Solutions segment amounted to EUR 770.8 million, 15.2 percent above the prior year (prior year: EUR 668.9 million). Segment EBITDA rose by 35.7 percent to EUR 41.8 million (prior year: EUR 30.8 million) and the EBITDA margin was 5.4 percent (prior year: 4.6 percent).

Net profit for the period and cash influenced by effects of the sale of CANCOM LTD The CANCOM Group's net profit for the period from 1 January to 30 September 2021 was EUR 260.9 million, primarily reflecting the high profit from the sale of business activities in the United Kingdom and Ireland (prior year: EUR 41.5 million).

Cash and cash equivalents stood at EUR 582.5 million as at 30 September 2021, also largely due to the sale of CANCOM LTD (31 December 2020: EUR 338.4 million).

Annual forecast 2021 raised

Based on the preliminary results for the first nine months of the 2021 financial year, the Executive Board of CANCOM SE had already announced on 27 October 2021 that it was raising its full-year forecast for 2021. The Executive Board now expects very significant growth in Group revenue, Group gross profit and Group EBITDA in financial year 2021 (previously: significant growth in each case). The forecast for Group EBITA, which already provided for very significant growth, remained unchanged.

For the Group segment IT Solutions, the Executive Board now expects very significant growth in revenue and EBITDA (previously: significant growth in each case).

For the Group's Cloud Solutions segment, the Executive Board left unchanged its forecast of very significant growth in revenue, EBITDA and annual recurring revenue in the financial year 2021.

The complete interim statement CANCOM Group as at 30 September 2021 will be published at 10:00 am (CET) on the website www.cancom.de in the Investors section.

About CANCOM As a Digital Transformation Partner, CANCOM accompanies companies into the digital future. We support our customers in reducing the complexity of their IT and expanding their business success through the use of state-of-the-art technology. In order to holistically map the IT needs of companies, organizations and the public sector, CANCOM offers custom-fit IT from A to Z from a single source.

The IT solutions offered by the CANCOM Group include consulting, implementation, services and the operation of IT systems. Customers benefit from our extensive expertise and a holistic and innovative portfolio that covers the IT requirements of companies needed for a successful digital transformation. As a hybrid IT integrator and service provider, we deliver a range of services and solutions that includes business solutions and managed services such as cloud computing, analytics, enterprise mobility, IT security, hosting and as-a-service offerings.

The CANCOM Group's workforce of around 4,000 employees and an efficient partner network ensure market presence and customer proximity in countries including Germany, Austria, Switzerland, Belgium and the USA. The CANCOM Group is managed by Rudolf Hotter (CEO), Thomas Stark (CFO) and Rüdiger Rath (COO). The company is headquartered in Munich. CANCOM generated annual revenues of around EUR1.3 billion in 2020 and the Group's parent company CANCOM SE is listed on the Frankfurt Stock Exchange in the MDAX and TecDAX (ISIN DE0005419105).

Contact Sebastian Bucher Manager Investor Relations Phone: +49 89 54054 5193 Email: sebastian.bucher@cancom.de

Note If you do not wish to receive information from us by e-mail, please write to ir@cancom.de.

Data protection notice You are receiving this message because you have been included in the CANCOM distribution list for investor information. You have been included because you have expressed a wish in the past to be informed about company news. CANCOM stores and processes personal data about you, such as your name and e-mail address, in order to be able to offer you this service. CANCOM stores and uses this data exclusively to keep itself informed about the development of investor communications and to be able to contact investors as part of investor relations activities.

General information on the use of data by CANCOM CANCOM will not pass on personal data collected in the course of investor relations activities to third parties without the express consent of the person concerned. The only exception to this rule is if CANCOM is requested to provide data by competent authorities such as the Federal Financial Supervisory Authority. Even after you have consented to receive investor information from us, thereby enabling CANCOM to store and use your personal data, you have the right to revoke this consent at any time. All you need to do is send an informal message by email to widerspruch@cancom.de or to ir@cancom.de. For more information about CANCOM's privacy policy, the contact person or your individual rights as a data subject, please visit our website at https://www.cancom.de/datenschutz-cancom/.

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2021-11-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

(MORE TO FOLLOW) Dow Jones Newswires

November 11, 2021 02:04 ET (07:04 GMT)

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Financials
Sales 2021 1 305 M 1 480 M 1 480 M
Net income 2021 279 M 317 M 317 M
Net cash 2021 585 M 663 M 663 M
P/E ratio 2021 7,61x
Yield 2021 1,23%
Capitalization 2 057 M 2 334 M 2 334 M
EV / Sales 2021 1,13x
EV / Sales 2022 1,04x
Nbr of Employees 3 569
Free-Float -
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 9
Last Close Price 54,76 €
Average target price 70,00 €
Spread / Average Target 27,8%
EPS Revisions
Managers and Directors
Rudolf Hotter Chief Executive Officer
Thomas Stark Finance Director
Stefan Willy Kober Member-Supervisory Board
Rudiger Rath Chief Operating Officer
Regina Weinmann Member-Supervisory Board
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