4. February 2021 | Corporate News
CANCOM with record results in the fourth quarter
– EBITDA up 41.9 percent to EUR 45.4 million (previous year: EUR 32.0 million)
– Revenue up 10.6 percent to EUR 467.8 million (previous year: EUR 422.8 million)
– EBITDA margin in the fourth quarter rises from 7.6 percent to 9.7 percent
Munich, Germany, 4 February 2021 – 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.
As a Digital Transformation Partner, CANCOM accompanies companies into the digital future. CANCOM helps customers reduce the complexity of their IT and expand their business success through the use of state-of-the-art technology. 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 CANCOM Group’s range of IT solutions includes consulting, implementation, services, and the operation of IT systems. Customers benefit from CANCOM’s extensive expertise and a holistic and innovative portfolio that covers all the IT requirements companies need for a successful digital transformation. As a hybrid IT integrator and service provider, the company delivers 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 internationally active CANCOM Group has over 4,000 employees worldwide and a powerful partner network that ensures market presence and customer proximity in countries including Germany, Austria, Switzerland, Belgium, the UK and the USA. The CANCOM Group is managed by Rudolf Hotter (CEO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM generates annual revenues of around EUR 1.5 billion and the Group’s parent company CANCOM SE is listed on the Frankfurt Stock Exchange in the MDAX and TecDAX (ISIN DE0005419105).
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