Press

07.08.2014
CANCOM Group grows in all business segments in the first half of the year

Munich, August 7, 2014 - In its 2014 semiannual report, CANCOM SE confirms its successful business performance in the first half of the current year, which the preliminary figures previously announced had also shown. With their strong overall performance, both reporting segments have contributed to the growth in revenues and profit.

The Groupʼs consolidated sales in the second quarter compared with the previous year rose by 35.2%, from 140.0 million euros to 189.3 million euros. The expansion of higher-margin products and services is the reason for the Groupʼs further improved gross profit and gross profit margin. This amounts to an increase of 33.3% for the second quarter of 2014 with a gross profit of 63.1 million euros, following the previous year which saw an increase of 32.7% and a gross profit of 45.8 million euros. Adjusted for one-off effects, Group EBITDA grew by 46.2% from 7.8 million euros to 11.4 million euros, equivalent to an adjusted EBITDA margin of 6.0% in the second quarter of the current year, compared with 5.6% in the previous year. The one-off effects of 0.1 million euros are external expenses in connection with the acquisitions, not to be capitalized pursuant to IFRS and not incurred related to the operational business. Group EBITA (earnings before interest, taxes, and amortization on intangible assets) also adjusted for one-off effects is 8.2 million euros for the second quarter, compared with 5.8 million euros in 2013, an increase of 41.4%. In total, the one-off effects together with the amortization effects from the purchase price allocation (PPA) adjusted profit amount to 0.36 euros per share for the second quarter in 2014, compared to 0.34 euros in 2013.

For the first six months of the current financial year, the Groupʼs consolidated sales revenues grew 36.2% to 374.7 million euros, increasing from 275.1 million in the first half of 2013. Adjusted for one-off effects amounting to 0.6 million euros in the first half of 2014, Group EBITDA increased by 48.6% to 22.0 million euros, in comparison to the previous year with 14.8 million euros, which corresponds to an adjusted EBITDA margin of 5.9% following 5.4% in 2013. The Cloud Solution segment has made a significant contribution with a 140.0% increased EBITDA of 10.8 million euros (Q2/2013: 4.5 million euros) and a segment EBITDA margin of 23.2% (Q2/2014: 21.3%). Adjusted for one-off effects, the Group EBITA margin of the first half of 2014 is at 15.9 million euros-a gain of 45.9% compared to the previous year at 10.9 million euros. For the first half of the year, profits adjusted for one-off effects and PPA amortization were achieved in the amount of 0.71 euros per share, as compared to 0.63 euros per share in 2013.

With a balance-sheet equity ratio of around 50%, the CANCOM Group has a solid capital structure. Liquid assets worth 65 million euros as of June 30, 2014, allow financing of the organic and acquisitional growth of the IT group.

"With a very good first half of the year, we have established a comfortable starting point for a successful 2014 with new record values," states CANCOM CEO Klaus Weinmann. "A stable macroeconomic framework and a traditionally strong fourth quarter should have an additional positive impact on the development."

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Sebastian Bucher
Manager Investor Relations