4. February 2021 · Corporate News
4. February 2021 · Corporate News
According to preliminary figures, the CANCOM Group generated consolidated revenues of around EUR 1.69 billion in the 2020 financial year. This represents a year-on-year improvement of 9.3 percent (previous year: EUR 1.55 billion). EBITDA exceeds the updated forecast of 27 October 2020 and is expected to be EUR 123.1 million, up 3.2 percent on the previous year (previous year: EUR 119.3 million). The EBITDA margin was 7.3 percent.
The main drivers were the strong service business and, in particular, very strong demand in the public sector. In contrast to the second quarter of 2020 and contrary to the original assessment, the "lockdown light" only resulted in minor restrictions in the high-margin service business. The fundamentally positive assessment for the fourth quarter due to the high demand was thus significantly exceeded.
"The great success in the fourth quarter is a confirmation of our corporate course," said Rudolf Hotter, CEO of CANCOM. "In a very difficult year, we have shown that we have the right products and offerings in our portfolio. The fourth quarter is the best and highest-margin quarter in our company's history so far and shows that we have the right corporate strategy and setup for future growth."
The preliminary figures for the fourth quarter of 2020 were EUR 467.8 million in consolidated revenues (previous year: EUR 422.8 million), an increase of 10.6 percent. EBITDA increased by 41.9 percent to EUR 45.4 million (previous year: EUR 32.0 million).
As expected, the very strong positive operating cash flow of well over EUR 110 million in the fourth quarter underscores the company's earning power and results in a net cash position of around EUR 338.4 million.
CANCOM Group's full annual report for 2020, including the forecast for 2021, will be published in the Investors section of www.cancom.de on 30 March 2021.
About CANCOM
As a Digital Transformation Partner, 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.
With around 4,000 employees worldwide, the internationally active CANCOM Group and its efficient partner network ensure market presence and customer proximity with locations in Germany, Austria, Switzerland, Belgium and Slovakia. The CANCOM Group is led by Rüdiger Rath (CEO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM has an annual turnover of around 1.3 billion euros (consolidated revenue 2021). The parent company, CANCOM SE, is listed on the TecDAX and SDAX of the Frankfurt Stock Exchange (ISIN DE0005419105).
