8. February 2023 | Corporate News

CANCOM: Second half-year brings 7.5 percent revenue growth. Executive Board announces programme to increase profitability.

  • According to preliminary figures, the CANCOM Group’s revenue for 2022 will be at around € 1,295 million.
  • Annual Recurring Revenue (ARR) grows to a preliminary figure of around € 225 million.
  • Preliminary earnings figures Gross profit, EBITDA and EBITA affected by negative special effects.
  • Profitability-enhancing programme announced for 2023 to optimise both costs and business processes.

Munich, Germany, 8 February 2023 – According to preliminary figures, the CANCOM Group increased its Group revenue to around € 1,295 million in 2022 (prior year: € 1,286.0 million). In addition, the very positive development of Annual Recurring Revenue (ARR) continued, growing to around € 225 million as of December 2022 (December 2021: € 181.8 million) and showing the development in the Managed Services business.

“After the first half of 2022 was very difficult for us, CANCOM achieved revenue growth of around 7.5 percent in the second half of 2022 and is back on track for growth. In addition, order intake was very good in the fourth quarter and the development of our recurring revenue was excellent for the whole of 2022 with an increase of around 24 percent,” said Rüdiger Rath, CEO of CANCOM SE. “However, we in the Executive Board team used December to take a critical stock of the balance sheet and cost structures. The profitability of the CANCOM Group is no longer what we expect from our company, irrespective of the fact that the 2022 business result is burdened by one-off special effects. The Executive Board will therefore develop a programme of measures to increase profitability, which will affect both the cost side and corporate processes. The goal is to align the company’s internal processes even more strongly with the unchanged strategic goal of a Hybrid IT Service Provider,” Rath added.

The gross profit of the CANCOM Group improved to around € 440 million (prior year: € 425.3 million). This includes adjustments to inventories of around € 7 million. The preliminary Group EBITDA amounts to around € 106 million (prior year: € 122.6 million) and, in addition to the aforementioned special charge from inventory management, was negatively affected by other one-off effects amounting to around € 3 million, including an inflation premium to employees of around € 2 million. Furthermore, the preliminary figures for 2022 include additional value adjustments on intangible assets (software) of around € 9 million, among other things due to the first implementation phase of the new ERP system, which has now been successfully completed. Together with the other special effects, this had a negative impact on the Group EBITA, which provisionally amounted to around € 55 million (prior year: € 85.2 million). Without these special charges, Group gross profit would have been around € 447 million, Group EBITDA around € 116 million and Group EBITA around € 74 million.

Cash flow from operating activities is expected to be around € 115 million in the fourth quarter, which means that the CANCOM Group will end the financial year 2022 with an operating cash flow of around € -51 million.

The key financial figures for the operating segments IT Solutions and Cloud Solutions are not available at the present time.

The complete Annual Report 2022 of CANCOM Group and the forecast for the financial year 2023 will be published on 30 March 2023 on in the Investors section.

The publication of the preliminary annual results on 9 February 2023, as scheduled in the CANCOM Group’s financial calendar, is not applicable following today’s announcements.


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 4,000 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) and Thomas Stark (CFO). The company is headquartered in Munich, Germany. CANCOM generated revenue of around € 1.3 billion in the financial year 2021. Its parent company CANCOM SE is listed in the SDAX and TecDAX of the Frankfurt Stock Exchange (ISIN DE0005419105).