11. May 2023 | Corporate News

CANCOM SE: Revenue and gross profit growth in the first quarter

  • Business volume increases by 10.4 percent to €433.0 million (previous year*: €392.1 million)
  • Group revenue grows by 7.1 percent, gross profit increases by 9.3 percent
  • Consulting and Support with double-digit growth rates


Munich, Germany, 11 May 2023 – The CANCOM Group is starting the 2023 financial year with a 7.1 percent increase in revenue. Compared to the previous year, revenue rose to €317.7 million (previous year*: €296.7 million). Gross profit of €117.0 million was also higher than the previous year’s figure* of €107.0 million. Higher operating and personnel costs and a special effect of around €1.0 million from the efficiency and profitability programme burdened EBITDA, which amounted to €24.1 million (previous year*: €26.4 million). Accordingly, the EBITDA margin was 7.6 percent (previous year: 8.9 percent). EBITA was €13.5 million (previous year*: €15.4 million).

“We closed the first quarter with solid revenue and gross profit growth, but also had to deal with inflation-related cost increases and special effects. The double-digit growth within Support and Consulting in the service business makes us confident for the course of the year,” said Rüdiger Rath, CEO of the CANCOM Group.

Cash flow from operating activities improved compared to the same quarter of the previous year and amounted to €-43.6 million (previous year: €-76.3 million). Cash and cash equivalents amounted to €330.4 million as at 31 March 2023 (31 December 2022: €393.2 million).

Expanded presentation of revenue and gross profit
As already announced, CANCOM will in future present revenue and gross profit in four main pillars along the value chain: Trading, Consulting, Support and Managed Services. Revenue, gross profit and the gross profit margin are shown in each case.

Double-digit growth in Consulting and Support, good development in Trading
In Trading, revenue grew by 7.6 percent to €221.1 million in the first quarter (previous year: €205.5 million). Gross profit amounted to €37.4 million (previous year: €30.2 million). The gross profit margin was 16.9 percent (previous year: 14.7 percent).
In Consulting, revenue grew by 13.4 percent to €55.4 million (previous year: €48.9 million). Gross profit rose to €45.2 million (previous year: €39.1 million), which corresponds to growth of 15.6 percent. The gross profit margin was 81.5 percent (previous year: 80.0 percent).
The development in Support was also positive. Revenue from support services rose by 12.6 percent to €13.7 million (previous year: €12.2 million). Gross profit was €9.8 million (previous year: €9.0 million), the gross profit margin was 71.3 percent (previous year: 74.3 percent).
In Managed Service, revenue amounted to €27.5 million (previous year: €30.1 million). Gross profit was €22.6 million (previous year: €23.4 million) and the gross profit margin was 82.3 percent (previous year: 77.6 percent).

Forecast confirmed, acquisition of K-Businesscom not yet included
“Despite the current factors of uncertainty, we are assuming a positive market development, and accordingly we are maintaining the forecast for the CANCOM Group,” said Rüdiger Rath. “The acquisition of K-Businesscom, which was announced after the reporting period, will not be reflected in the forecast until the transaction has been completed.” The forecast for the CANCOM Group’s financial year 2023 is therefore unchanged:

CANCOM Group Forecast 2023
Revenue €1,320 – 1,390 million
Gross profit €460 – 485 million
EBITDA €114 – 124 million
EBITA €70 – 80 million


The complete interim statement of CANCOM Group for the first quarter of 2023 is published on the website in the Investors section.


* In connection with the sale of the business activities in the USA, the previous year’s figures have been adjusted. For more information, please refer to section A.2.2.3 of the notes to the 2022 consolidated financial statements of CANCOM SE.


As a hybrid IT service provider, CANCOM accompanies companies into the digital future. We support our customers in reducing the complexity of their IT and expanding their business success through the use of state-of-the-art technology. In order to meet the IT needs of companies, organisations and the public sector in a holistic manner, CANCOM offers custom-fit IT from A to Z from a single source.

The IT solutions offered by the CANCOM Group include consulting, implementation, services and the operation of IT systems. Customers benefit from our extensive expertise and a holistic and innovative portfolio that covers the IT requirements of companies needed for a successful digital transformation. As a hybrid IT integrator and service provider, we deliver 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 approximately 4,000 employees of the CANCOM Group and an efficient partner network ensure market presence and customer proximity in Germany, Austria, Switzerland and Belgium, among other countries. The CANCOM Group is managed by Rüdiger Rath (CEO) and Thomas Stark (CFO). The company’s headquarters are in Munich. CANCOM generated revenues of around €1.3 billion in 2022. The Group’s parent company CANCOM SE is listed on the Frankfurt Stock Exchange in the SDAX and TecDAX (ISIN DE0005419105).