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Munich, Germany, 15 March 2013 - With the publication of the three-month report 2013 CANCOM has confirmed the provisional business results of the first quarter. The IT-group was able to top the very good figures of the previous year by achieving new records on gross profit and earnings per share, despite a slightly lower turnover.
In the first quarter of 2013 CANCOM Group achieved revenues of EUR 135.1 million after EUR 141.1 million in the first quarter of 2012. The decline amounting to 4.2 % was mainly due to a positive prior year effect, in which the revenue recognition of a project, under a financial point of view, has been deferred from 2011 to the first quarter of 2012. In addition the first quarter of 2013 had fewer working days than the first quarter of 2012 due to the Easter holidays. 'Taking into account the extremely good quarter of last year and the described effects of the first quarter of the ongoing business year we are very satisfied with the results achieved. After a weaker January and February which reflected the subdued economic situation March offered a positive surprise,' explains Klaus Weinmann, CEO of CANCOM.
Due to the successful expanding of higher-margin services business, the Group's gross profit could be raised by 4.0 % up to EUR 43.8 million in the first quarter of 2013, in comparison to EUR 42.1 million in the first quarter of 2012.
The consolidated EBITDA of EUR 7.0 million of the first quarter of 2013 is at the same level with the preceding year's amount of EUR 7.0 million. Because of that, EBITDA margin raised up to 5.2 % after 5.0 % in the first quarter of 2012.
Consolidated EBIT decreased by 9.4 % to EUR 4.8 million in comparison to EUR 5.3 million in the first quarter of 2012. This was caused by increased depreciation resulting from investments made, especially the CANCOM Cloud data center in Munich as well as the improvements of ERP Systems and eSupplyChain.
The profit for this period from continuing operations raised by 14.3 % from EUR 2.8 million in the first quarter of 2012 to EUR 3.2 million in the first quarter of 2013. In the previous year the profit for the period was affected by special tax effects. For the first three month of this financial year the CANCOM Group in total reports earnings per share in the amount of EUR 0.28 after EUR 0.26 Euro in 2012.
As at 31 March 2013 the results of the CANCOM Group shows an ongoing sound asset and financial structure. The liquid assets amounted to EUR 16.3 million on the closing date by further lowered financial liabilities. As at 31 March 2013 the equity capital rose from EUR 63.3 million to EUR 84.0 million taking into account last year's capital increase. The equity ratio increased correspondingly from 35.1 % to 46.5 %.
As at 31 March 2013 CANCOM employed over 2,034 people in Germany and Austria. The Group plans to further expand the higher-margin service business. In order to score points with the customers using currently highly demanded solution themes CANCOM relies on highly qualified employees for sales and consulting.
'With the results of the first quarter we managed a good start in the current business year', explains Klaus Weinmann, CEO of CANCOM. Due to know how, many years of experience and proven solution skills especially in the future market cloud computing with our personal cloud solution, the CANCOM AHP Private Cloud, the Executive Board is confident that it will be able to further expand CANCOM's market share. Awarded as Cloud Leader 2013 by the Experton Group at the Cloud Vendor Benchmark 2013 CANCOM offers an excellent portfolio and an above-average competitive strength within the cloud computing environment.
As reported, in addition the Executive Board is confident to complete three big CANCOM AHP private cloud projects with reputable customers in the second quarter of the current financial year.