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CANCOM shows a new record level with strong business results and topping the one billion mark in revenues in 2016
- Consolidated Group revenues: EUR 1,023.1 million (plus 9.7 percent; 2015: EUR 932.8 million)
- Consolidated Group EBITDA: EUR 72.9 million (plus 15.5 percent; 2015: EUR 63.1 million)
- Consolidated Group EBIT: EUR 51.3 million (plus 24.8 percent; 2015: EUR 41.1 million)
Munich, Germany, 27 March 2017 - CANCOM Group has today published the annual report for 2016, announcing the full business results for the financial year ended 31 December 2016.
Compared to the previous year, the TecDAX listed IT group increased consolidated group revenues by 9.7 percent up to EUR 1,023.1 million (2015: EUR 932.8 million) and topped the EUR 1 billion mark in revenues for the first time.
"We feel a constant customer demand for innovative and comprehensive IT solutions, which is shown in the strong development across the entire spectrum of our business", states CANCOM CEO Klaus Weinmann. Both business segments of the group, IT solutions and cloud solutions, have grown significantly by +8.2 percent and +18.4 percent. "We consequently concentrate on digitization and IT growth trends such as cloud computing, IT Security, Big Data and Analytics or Mobility, for example. That means, we want to grow our business in these IT solutions areas as well as Managed and Cloud Services", the CANCOM CEO says. He sees the clear focus on higher valuable business as one of the main drivers for earnings performance.
Consolidated gross profit of the group improved to EUR 292.7 million (2015: EUR 274.2 million), consolidated group EBITDA again showed double-digit growth up to EUR 72.9 million (2015: EUR 63.1 million; +15.5 percent) with an EBITDA margin of 7.1 percent compared to 6.8 percent in the previous year. Also, each segment EBITDA developed positively up to EUR 49.2 million for IT solutions and EUR 31.4 million for cloud solutions.
Double-digit earnings growth continued for consolidated group EBIT 2016 in the amount of EUR 51.3 million after EUR 41.1 million in 2015 (+24.8 percent). Earnings per share from continuing operations of CANCOM SE also reached a new record level at EUR 2.11 after EUR 1.99 in 2015.
In its balance sheet meeting, the Supervisory Board of CANCOM SE has decided to extend the agreement with CEO and Founder Mr Klaus Weinmann for an additional five years.
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