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- Revenue first half of 2010: EUR 239.2 million (up 17.0 percent
- EBITDA first half of 2010: EUR 5.7 million (up 96.6 percent
- EBIT first half of 2010: EUR 3.7 million (up 131.3 percent year-on-year)
Jettingen-Scheppach, Germany, 29 July 2010 - With its provisional figures
for the first half of 2010, CANCOM IT Systeme AG can once again report a
significant growth in revenue and earnings as compared with the previous
year. In the second quarter of 2010, the Group stepped up the pace of
growth quite significantly in comparison with the successful first quarter
of this financial year.
The provisional figures show that in the first half of 2010 the CANCOM
Group increased Group revenue by 17.0 percent to EUR 239.2 million as
compared with EUR 204.5 million in the first half of 2009. Provisional
Group revenue in the second quarter 2010 rose by 26.0 percent from EUR 98.9
million to EUR 124.6 million. Organic growth in the second quarter 2010 was
therefore 14.4 percent.
The provisional figure for the consolidated gross profit rose by 26.3
percent from EUR 56.2 million to EUR 71.0 million. The gross profit margin
rose from 27.5 percent in the first half of 2009 to the present figure of
According to the provisional figures, consolidated EBITDA, at EUR 5.7
million, is 96.6 percent above the previous year's figure of EUR 2.9
million. This is equivalent to an EBITDA margin of 2.4 percent. After
adjustment to take account of the companies acquired since the middle of
2008, which are expected to reach the Group's level of profitability in
about three years, CANCOM can report a EBITDA margin of 3.8 percent.
According to the provisional figures, consolidated EBITDA in the second
quarter of 2010 grew by 116.7 percent, rising from EUR 1.2 million in the
second quarter 2009 to its present figure of EUR 2.6 million.
The provisional figures also show that consolidated EBIT now amounts to EUR
3.7 million, as compared with EUR 1.6 million in the first half of 2009,
equivalent to a growth of 131.3 percent. For the second quarter 2010 the
CANCOM Group recorded a provisional consolidated EBIT of EUR 1.5 million,
as compared with EUR 0.5 million in the second quarter 2009. This is
equivalent to an increase of 200 percent.
In the opinion of management, the reason for the CANCOM Group's continuing
growth in revenue and earnings is the noticeable recovery of the economy
and corporate investment practices.
The Executive Board sees further potential for growth in CANCOM's strategic
realignment and its good positioning in Cloud Computing, the market of the
future. Thus the present situation leads us to believe that, during the
course of the year, we can even outperform the targets set by the Corporate
Guidance for financial year 2010.
To ensure sufficient liquidity and to enable us to use available funds for
forthcoming acquisitions, on 29 July 2010 CANCOM IT Systeme AG prematurely
ended the share buyback programme launched on 17 November 2009. This meant
that on 29 July 2010 a total of 74,329 shares, accounting for EUR 74,329.00
of the total share capital (approx. 0.72 percent), were repurchased for an
average price of EUR 3.48 and a total price of EUR 258,592.31.
Corporate Communication Specialist
CANCOM IT Systeme AG
Tel.: +49 (0) 8225 / 996 1015
Fax: +49 (0) 8225 / 996 4 1015
mail to: firstname.lastname@example.org
29.07.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
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