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13. February 2024 | Corporate News

CANCOM SE: CANCOM grows very significantly in 2023 and achieves key forecast targets

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.

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About CANCOM
As a Hybrid IT Service Provider, CANCOM accompanies organizations into the digital future. CANCOM supports 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 management 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, the Company provides 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 more than 5,600 employees, CANCOM Group and its efficient partner network ensure market presence and customer proximity in Germany, Austria, Switzerland and Belgium. The CANCOM Group is led by Rüdiger Rath (CEO), Jochen Borenich (CSO) and Thomas Stark (CFO). The company is headquartered in Munich, Germany. CANCOM generated revenue of around € 1.5 billion in the financial year 2023. Its parent company CANCOM SE is listed in the SDAX and TecDAX of the Frankfurt Stock Exchange (ISIN DE0005419105).