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13. Feb 2024 | Corporate News

CANCOM grows very significantly in 2023 and achieves key forecast targets

  • Successful implementation of the acquisition strategy in the DACH region ensures very significant growth for the CANCOM Group over the year as a whole.
  • Sales increased by 17.8 percent to € 1,523.1 million and gross profit improved by 33.0 percent to € 582.6 million.
  • EBITDA recorded an increase of 10.9 percent to € 116.3 million.
  • Operating cash flow improved significantly by € +145 million over the year.
  • Key targets of the 2023 forecast achieved.

Munich, Germany, 13 February 2024 – The CANCOM Group successfully closes the 2023 financial year with very significant growth. Based on preliminary figures, revenue increased by 17.8 percent to € 1,523.1 million (previous year: € 1,292.9 million). Gross profit developed extremely well, increasing by 33.0 percent to € 582.6 million (previous year: € 437.9 million), which is in the middle of the forecast range. EBITDA also increased significantly by 10.9 percent and is expected to reach € 116.3 million (previous year: € 104.9 million). EBITA rose by 19.2 percent and amounted to € 64.7 million (previous year: € 54.3 million). Based on the preliminary figures, operating cash flow improved by more than € 145 million and totalled € 92.8 million for the 2023 financial year (previous year: € -53.6 million).



“We were able to grow in 2023 thanks to a successful acquisition strategy in our core market DACH,” says Rüdiger Rath, CEO of CANCOM SE, summarising the 2023 financial year. ”We have thus laid the foundation for our successful development in the 2024 financial year in an economically difficult environment.”



The Annual Report 2023 of the CANCOM Group will be published on 28 March 2024.

About CANCOM

As a leading Digital Business Provider, CANCOM leads companies, organizations and the public sector into the digital future. The range of services and solutions includes classic system house IT solutions as well as data-based digital solutions, managed services and cloud services. We accompany the digital evolution of our customers with passion and technology and support them in reducing the complexity of their IT and developing new business models. We offer a holistic portfolio for all IT and business requirements.

The CANCOM Group’s offering comprises innovative solutions in the areas of Artificial Intelligence, Security & Network, Datacenter & Cloud, IoT Solutions and Modern Workplace and includes services for the entire IT lifecycle – from the provision of IT infrastructures, planning and integration, to support, managed services and XaaS. Customers benefit from the extensive expertise with which their diverse requirements are translated into concrete industry-specific IT solutions to significantly promote their business success.

The more than 5,600 employees of the internationally active CANCOM Group with around 80 locations in the DACH region, Belgium, Slovakia, Romania and the Czech Republic as well as an efficient partner network ensure market presence and customer proximity. The CANCOM Group is managed by Rüdiger Rath (CEO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM generated annual revenue of around 1.7 billion euros in 2024. The Group parent company CANCOM SE is listed on the Frankfurt Stock Exchange in the TecDAX and SDAX (ISIN DE0005419105).