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Munich, Germany, 11 November 2014 - After an excellent business performance during the first nine months CANCOM is on its way to another record year. Sales revenues as well as profits for the third quarter as well as on a nine month basis are clearly ahead of last year's results.
The group's consolidated revenues for the first three quarters of 2014 rose by 39.7% yoy to EUR 583.1 million (2013: 417.5 million). Organic growth amounted to 8.5%. Gross profit rose by 44.0% to EUR 193.2 million (2013: EUR 134.2 million) for the same period. This results in a gross profit margin of 33.1% compared to 32.1% in 2013. Group EBITDA (Jan.-Sept.) adjusted for one-off effects (EUR 1.1 m) was EUR 37.6 million; +64.9% compared to the EUR 22.8 million in 2013 (Jan.-Sept.). This results in an EBITDA margin of 6.4% compared to 5.5% in 2013. The one-off effects are composed of costs due to the early termination of a rental agreement in connection with the merger of two locations of a prior acquisition as well as external expenses for restructuring in conjunction with acquisitions, not to be capitalized pursuant IFRS. Adjusted EBITA increased by 65.9% yoy to EUR 28.2 million (Jan-Sept. 2013: EUR 17.0 m). This results in adjusted earnings per share from continuing operations of EUR 1.19 for the period from January to September 2014 (previous year: EUR 0.99; +20.2 %).
Significant increase in sales and profit in Q3/14
So far, the third quarter was the most successful one this year. Consolidated sales revenues in Q3 were up from EUR 142.3 million in Q3/2013 to EUR 208.4 million (+46.5%). Gross profit increased by 55% to EUR 69.3 million (Q3/13: EUR 44.7 m). Adjusted Group EBITDA amounted to EUR 15.5 million compared to EUR 8.8 million in Q3/13 (+15.5%). Accordingly, the adjusted EBITDA margin is 7.4% compared to 5.6% in Q3/13 (+1.8%). Adjusted EBITA doubled and reached EUR 12.3 million (+101.6% compared to EUR 6.1 m in Q3/13).
Both reporting segments - IT solutions and cloud solutions - contributed to the strong business performance of the CANCOM group. Both segments benefited from the very good order situation across all units. Due to the encouraging business performance of the first nine month and the persistently sound customer demand the CANCOM Executive Board expects to achieve new record results in 2014. Adjusted EBITDA after three quarters is already higher this year than the figure for 2013 (Jan.-Dec.). Therefore, the Executive Board is optimistic to achieve sales revenues of approx. EUR 800 million and an EBITDA of at least EUR 50 million in 2014.
CANCOM is a cloud transformation partner, systems integrator and managed services provider. With our forward-looking, business-oriented portfolio of services, we provide significant added value for the business success of our customers. With its own private cloud solution, CANCOM is a first mover in the future market cloud computing, guides to the cloud way of computing by means of analysis, consulting, integration and services, and thus is IT and business transformation partner for the customers. The more than 3,000 employees of the international group ensure presence, customer proximity and a powerful partner network for example in Germany, Austria, Switzerland and the USA. Members of the Executive Board of TecDAX listed CANCOM SE, headquartered in Munich, are Klaus Weinmann (Founder & CEO) and Rudolf Hotter (COO). The group achieves annual sales of about EUR 800 million.