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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 Hybrid IT Service Provider, CANCOM accompanies organizations into the digital future. We support our customers to simplify complex enterprise IT and increase their business success through the implementation of modern technology. In order to comprehensively meet the IT needs of companies, organizations, and the public sector, CANCOM delivers tailor-made IT end to end from a single source. 

The CANCOM Group’s range of IT solutions includes consulting, implementation, services, and the operation of IT systems. Customers benefit from the extensive expertise as well as a holistic and innovative portfolio that covers the IT requirements that are necessary for a successful digital transformation. As a hybrid IT integrator and service provider, we provide an integrated range of services and solutions including business solutions and managed services, such as cloud computing, analytics, enterprise mobility, IT security, hosting, and as-a-service offerings. 

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 Ruediger Rath (CEO), Jochen Borenich (CSO) and Thomas Stark (CFO). The company’s headquarters are in Munich. CANCOM generated annual revenues of around €1.5 billion in 2023. The Group parent company CANCOM SE is listed on the Frankfurt Stock Exchange in the TecDAX and SDAX (ISIN DE0005419105).