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Munich, Germany, 10th November 2011 - CANCOM Group has now confirmed its sustainable and solid growth by the publication of the 9-monts report 2011. The IT systems integrator, ranked among the German Top 3 systems integrator, thus achieved the strongest earnings before interest and taxes (EBITDA) in a quarterly comparison in the course of the current year.
The group's consolidated sales revenues from January till September were up 18.4 percent year-on-year to EUR 387.0 (previous year: EUR 326.8 million). In the same period, the consolidated gross profit was up 14.6 percent, from EUR 102.3 million to EUR 117.2 million. Consolidated EBITDA in the first nine months of 2011 rose by 64.5 percent from EUR 10.7 million up to EUR 17.6 million. This is equivalent to an EBITDA margin of 4.5 percent after 3.3 percent in 2010. Consolidated EBIT also grew up 62.0 percent year-on-year to EUR 12.8 million as compared to EUR 7.9 million in the first nine months of 2010.
The Group revenue for the third quarter rose by 10.7 percent from EUR 122.4 million to EUR 135.5 million in Q3/2010. Thereof 9.5 percent in Q3 was due to organic growth. Consolidated gross profit improved 13.4 percent in this period from EUR 35.2 million to EUR 39.9 million. Consolidated EBITDA went up 41.7 percent from EUR 4.8 million to EUR 6.8 million, consolidated EBIT from EUR 3.9 million to EUR 5.1 million (up 30.8 percent). The CANCOM Executive Board considers the continuing business demand responsible for the jump in revenues and profits, fostering especially the trading and project business. Futhermore the service business has benefited from a high utilization of the consultants.
The Group's net profit of the period for q3 grew up 53.8 percent year-on-year from EUR 2.6 million to EUR 4.0 million. This results in earnings per share from continuing operations of EUR 0.31 in the third quarter of 2011 (q3 2011: EUR 0.24) and EUR 0.75 for the first nine months of the current financial year.
CANCOM Group enjoys a solid financial basis for the further growth with an equity ratio of 37.2 percent as at 30 September 2011 and comfortable cash reserves.
Outlook for q4 and the full year 2011
The CANCOM Executive Board is optimistic to maintain the course of ongoing growth in revenues and profits for the full year 2011, due to the positive development in the first nine months and the good start in q4. This estimate is based on sustained strong demand, the Group's good positioning in the growth market of cloud computing and its focus on the higher-margin business-to-business segment.