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Munich, Germany, 27 March 2012 - The IT systems house CANCOM has today published the full report for the financial year 2011. The CANCOM Group, among the Top 3 of the German systems houses, showed consolidated sales of EUR 544.4 million after EUR 474.6 million in 2010, which is equivalent to a plus of 14.7 % year-on-year. Sales generated in the segment e-commerce were up 10.5 % to EUR 188.4 million, sales generated in the IT solutions segment rose up 17.1 % to 356.4 million. Consolidated gross profits increased by 11.5 % from EUR 142.9 million to EUR 159.3 million.
Consolidated EBITDA rose 31.6 % from EUR 19.0 million to EUR 25.0 million, with consolidated EBIT up 21.7 % from EUR 15.2 million to EUR 18.5 million. Overall, CANCOM's consolidated income for the year amounts to EUR 11.7 million following EUR 7.9 million in 2010, which results in earnings per share from continuing operations of EUR 1.14 (previous year: EUR 0.92).
'For CANCOM, 2011 was the best financial year in the history of the now 20-year-old company,' says CANCOM CEO Klaus Weinmann. 'This provides us with a good basis both for further growth and for a sustainable dividend policy.' On behalf of the Executive Board of CANCOM AG, he would especially like to thank the more than 2,000 committed employees of the CANCOM Group. As already announced, with the presentation of the financial statement 2011 the Management Board of CANCOM AG has decided to double the dividend from EUR 0.15 to EUR 0.30 per share.
Over the course of the year 2011, the nominal equity capital rose from EUR 51.0 million to EUR 60.9 million. Accordingly, the equity ratio improved from 28.7 % in 2010 up to 31.2 % as at 31 December 2011. Cash and cash equivalents rose from EUR 31.5 million at the balance sheet date to EUR 44.4 million at the end of the financial year 2011. Operating Cash flow also increased considerably year-on-year from EUR 16.9 million to EUR 26.7 million.
After the date for presentation of the financial statement 2011 and as part of a tax audit, an issue subject to a current fiscal court proceeding submitted, which results in a fiscal one-time effect for CANCOM - not operating and not effective on EBITDA / EBIT - in the amount of EUR 570. For this, CANCOM will give notice of opposition with reference to existing reports and in q1/2012 a provision for prudential reasons will be formed.
Operating business of CANCOM Group started well in 2012. In January the Group has seen growth in sales of 20 % from EUR 40.2 million up to EUR 48.2 million. February, too, has seen growth of 29 % with EUR 47.6 million posted as against the same period in the previous year. Accordingly, the Executive Board of CANCOM expects the current q1/2012 to outperform even the good previous year's values in sales and profits.