Press

13.08.2013
CANCOM aims for another record year after half year results 2013

Munich, Germany, 13 August 2013 - With publishing provisional figures for the first half of 2013 CANCOM SE continued growing in revenues and profits year-on-year. Especially the second quarter grew more dynamically and therefore q2's profit showed significant double-digit growth compared to the previous year.

In detail, the group's consolidated sales revenues for q2 were up to EUR 140.0 million compared to EUR 127.0 million in 2012. This is equivalent to an increase of 10.2 percent. The main reason for this was our high use of resources in the consulting business in the second quarter, as well as the further expansion of the trading business. Group gross profit improved by 13.9 percent from EUR 40.2 million to EUR 45.8 million. Consolidated EBITDA for the second quarter was EUR 7.8 million, 21.9 percent higher than the figure of EUR 6.4 million recorded in q2/2012. Respectively the EBITDA margin is 5.6 percent as compared with 5.0 percent in 2012 and shows the group's increased profitability. Consolidated EBIT was up 10.2 percent from EUR 4.9 million to EUR 5.4 million. The consolidated EBT figure for q2 is EUR 5.2 million, compared with EUR 4.4 million in the second quarter of 2012 - a plus of 18.2 percent. In total, Group earnings per share from continuing operations were EUR 0.32 for the second quarter 2013 compared to EUR 0.28 in 2012.

For the first six months of the current financial year the group's consolidated sales revenues reached EUR 275.1 million compared to EUR 268.1 million in the previous year. This shows an organic growth of 2.6 percent. Consolidated gross profit improved by 8.7 percent to EUR 89.6 compared to EUR 82.4 in the same period of the previous year. Consolidated EBITDA was EUR 14.8 million, about 10.4 percent higher than the figure of EUR 13.4 million recorded in the first half of 2012. The EBITDA margin was up from 5.0 percent in 2012 to 5.4 percent. Group EBIT was EUR 10.3 million and approximately at previous year's level. Consolidated EBT for the first half of 2013 amounts to EUR 9.8 million compared to EUR 9.2 million in the first half of 2012 - an increase of 6.5 percent. Earnings per share from continuing operations rose by 9.3 percent from EUR 0.54 to EUR 0.59.

In contrast to the classical project business, the implementation of cloud projects does not often result in immediate sales and earnings. Nevertheless, once these projects have been completed, these customer services generate a long term safe and steady cash flow for CANCOM. Hence the growing business with cloud solutions will lead to a shift in revenues and profits in the short term. On a long term basis we expect this business to increase the Group's profitability. In spite of this effect and run-up costs for projects, revenues and profit for q2/2013 outperformed the previous year significantly.

Sound balance sheet and comfortable liquidity status

The nominal equity capital has been increased from EUR 80.8 million to EUR 83.7 million since the start of the year, mainly through transfers to net profits. Overall, this resulted in an equity ratio of 46.8 percent at 30 June 2013, compared with 38.7 percent as at 31 December 2012. 'Our comfortable liquidity status supports future growth and gives enough flexibility for acquisitions', so CANCOM CEO Klaus Weinmann.

Outlook

With a very good July the second half of the financial year 2013 had a promising start. Incoming orders and invoice in July 2013 are significantly above previous year's level. Against the background of the group's positive performance in the first half and the traditionally strong q4 in the second half of 2013, the Executive Board currently expects the full year 2013 to set new record levels in revenues and profits.

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Contact

Sebastian Bucher
Manager Investor Relations