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Munich, Germany, 13 May 2014 - The CANCOM group has recorded a significant year-on-year increase in sales revenues and profits in the first quarter of 2014 - the best first quarter in the history of the company. Commenting on the group's strong performance in the first quarter, CANCOM's CEO Klaus Weinmann said: 'Our growth continues unabated.'
In the first three months of the current fiscal year consolidated sales revenues were up 37.2 percent at EUR 185.4 million compared with EUR 135.1 million in the same quarter of 2013. The reason for this was that business was good across more or less all segments and group companies. The organic growth was 13.1 percent.
The consolidated gross profit was increased by 39.5 percent to EUR 61.1 million, in comparison with EUR 43.8 million in the first quarter of 2013. This was owing to the successful expansion of the high-margin services business.
The consolidated EBITDA before non-recurring items in the first quarter of 2014 was up 51.4 percent, at EUR 10.6 million compared with EUR 7.0 million in 2013. As a result, the adjusted EBITDA margin was up from 5.2 percent in the first quarter of 2013 to 5.7 percent in the same period of 2014. Non-recurring items totalling EUR 0.5 million are external expenses connected with the most recent acquisitions, which cannot be capitalized according to IFRS, and costs not arising from operating activities.
Consolidated earnings before interest, tax and amortization (EBITA), also excluding non-recurring items, amount to EUR 7.7 million - an increase of 51.0 percent on the consolidated EBITA figure of EUR 5.1 million for the first quarter of 2013.
The earnings per share for the first three months of the year, adjusted for non-recurring items and amortization, was EUR 0.33 compared with EUR 0.30 in the previous year (q1/2013 adjusted for amortization on intangible assets from purchase price allocation (PPA)).
The CANCOM group's balance sheet as at March 31, 2014 continues to show a solid asset and financial structure. There was an increase in equity from EUR 162.9 million as at December 31, 2013 to EUR 182.3 million as at March 31, 2014. Owing to the increase in total assets as a result of the expansion of the group's business activities, the equity ratio was down slightly at 48.2 percent on March 31, 2014 compared with 50.7 percent as at December 31, 2013. As at March 31, 2014, CANCOM employed a total of 2,750 people across the group in Germany, Austria and the United States.