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- Consolidated sales in 2010 of EUR 549.3 million (+ 30.0%)
- Consolidated EBITDA in 2010 of EUR 19.2 million (+ 84.6%)
- Consolidated EBIT in 2010 of EUR 13.7 million (+ 95.7%)
Jettingen-Scheppach, 16 March 2011 - At yesterday's meeting of the Supervisory Board of CANCOM IT Systeme AG, the final figures for the company and the Group were announced. They showed that the provisional figures published on 24 January 2011 had been exceeded.
Underpinned by its strong market position and the economic recovery, the CANCOM Group increased consolidated sales as demand in the IT sector picked up. Sales grew by 30.0% (of which 16.4% is organic growth) to EUR 549.3 million following EUR 422.5 million in the previous year. Sales generated by the IT service provider were up 13.0% to EUR 245.2 million in the e-commerce/trade segment and 48.0% to EUR 304.1 million in the IT solutions segment. Consolidated gross profits increased by 26.6% from EUR 119.3 million to EUR 151.0 million, equating to a gross profit margin of 27.5% (previous year: 28.2%).
Consolidated EBITDA rose 84.6% from EUR 10.4 million to EUR 19.2 million, with consolidated EBIT up 95.7% from EUR 7.0 to EUR 13.7 million. Overall, CANCOM's consolidated income from the year amounts to EUR 7.9 million following EUR 5.1 million in 2009, which, following adjustments, results in earnings per share of EUR 0.80 (previous year: EUR 0.49).
'For CANCOM, 2010 was another very pleasing year that will set a trend,' says CEO Klaus Weinmann. On behalf of the Executive Board of CANCOM IT Systeme AG, he would especially like to thank the more than 2,000 committed employees Europe-wide of the CANCOM Group.
A healthy balance sheet and greatly improved cash flow
Over the course of the year, the nominal equity capital rose from EUR 49.3 million to EUR 51.0 million. Through the increase in nominal equity capital, the higher balance sheet total as a result of strong growth means that, as at 31 December 2010, the equity ratio has fallen slightly on the previous year and stands at 28.7% (2009: 32.5%). Cash and cash equivalents as at 31 December 2010 had continued to grow as against the 2009 reporting date, rising by EUR 5.7 million to EUR 31.5 million. CANCOM thus enjoys a solid cash position, which will be used for further acquisitions in the next months.
Cash flow from operating activities also increased considerably year-on-year from EUR 10.7 million to EUR 16.9 million.
Current forecasts already predicting a good first quarter
After a record-breaking 2010, the solid order position and the high demand for consultants mean that it is already possible to predict a strong first quarter of 2011. In January, the Group once again achieved considerable growth in sales up 32.6% from EUR 34.4 million to EUR 45.6 million. With sales of EUR 44.0 million, February, too, has seen growth of 18.0% posted as against the same period in the previous year. All in all, CANCOM is expecting the demand for IT to continue to increase over the course of 2011 and thus sees no reason to change its positive forecasts. Under these conditions, CANCOM once again looks set for growth outstripping the rest of the IT market thanks to its proven expertise and strong position, most notably in the trend segment of cloud computing.
Corporate Communication Specialist
CANCOM IT Systeme AG
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