1. August 2023 | Ad Hoc

CANCOM SE: One-off effects burden EBITDA and EBITA in the second quarter, revenue and gross profit development positive; Executive Board lowers 2023 full-year guidance.

Munich, Germany, 1 August 2023 – Based on the preliminary figures available today, the CANCOM Group achieved revenue growth of 10.2 percent to € 329.4 million in the second quarter of 2023 (prior year: € 298.8 million). At € 128.3 million, gross profit was around 22.3 percent up on the prior year’s figure of € 104.9 million.

EBITDA and EBITA in the second quarter were burdened by one-time special effects in the amount of € 10.2 million. This includes severance payments and release costs of € 5.9 million as part of the efficiency and profitability programme. Costs for prematurely terminated projects additionally burdened the EBITDA in the amount of € 3.1 million as well as one-time M&A expenses in the amount of € 1.2 million.

Total EBITDA was € 17.4 million in the second quarter 2023 compared to € 24.7 million in the second quarter 2022, while EBITA was € 5.4 million in the second quarter 2023 (prior year: € 14.4 million).

Organically, i.e. excluding the contribution from acquisitions in the past 12 months, the CANCOM Group recorded revenue of € 281.7 million the second quarter (prior year: € 298.9 million) with organic gross profit growth to € 105.6 million (Q2 2022: € 104.9 million). Organic EBITDA in the second quarter was € 12.8 million (Q2 2022: € 24.7 million) and organic EBITA was € 2.1 million (Q2 2022: € 14.4 million).

Due to the measures taken as part of the efficiency and profitability programme and in view of the integration of K-Businesscom and the economic outlook in the second half of the year, the Executive Board of CANCOM SE is adjusting the forecast for the CANCOM Group. The Executive Board now expects the following development in the financial year 2023:

Based on the preliminary figures, the development for the first half of 2023 is as follows:
Group revenue: € 647.0 million (previous year: € 595.5 million); +8.6 percent (organic share: +/- 0 percent)
Group gross profit: € 245.7 million (previous year: € 212.0 million); +15.9 percent (organic share: +3.5 percent)
Group EBITDA: € 41.6 million (previous year: €51.1 million); -18.6 percent (organic share: -30.5 percent)
Group EBITA: €18.9 million (previous year: €30.9 million); -38.8 percent (organic share: -53.7 percent)

CANCOM Group’s full half-year report for the first half of 2023 will be published on 10 August 2023 on the website www.cancom.com in the Investors section.

Notifying company:
CANCOM SE, Erika-Mann-Straße 69, 80636 Munich, Germany
ISIN DE0005419105, Frankfurt Stock Exchange (SDAX, TecDAX, Prime Standard)

Contact / Notifying Person:
Florian Mangold, Specialist Investor Relations
+49 (0)89 54054 5511
ed.mo1742297576cnac@1742297576dlogn1742297576am.na1742297576irolf1742297576

Note on Alternative Performance Measures:

The definitions of the alternative performance indicators gross profit, EBITDA and EBITA used in this notification are published in the CANCOM SE Annual Report 2022 on page 16.