CANCOM SE Announces Strong Annual Performance and Positive Outlook for 2024

CANCOM SE, in its Annual Report 2023, revealed a robust 17.8 percent increase in group revenue, amounting to €1,522.7 million compared to the previous year's €1,292.9 million. The company's EBITDA also saw an uptick to €115.7 million, a 10.3 percent rise from €104.9 million in the prior year. Highlighting a fruitful year, the Group's cash flow from operating activities surged by €148.2 million, reaching a positive €94.6 million.

CEO Rüdiger Rath credited this growth to a successful acquisition strategy and operational improvements, including the implementation of a new ERP system expected to positively affect future operations. The company's efficient capital handling led to a recommendation of a steady dividend of €1.00 per share.

Looking ahead, CANCOM forecasts a significant elevation in 2024, with expectations of revenue between €1,750 million to €2,000 million and EBITDA ranging from €130 million to €155 million. Positive developments across operational segments, especially in the International division, underscored by the integration of the KBC Group now named CANCOM Austria Group, signal a strong position amidst a challenging economic landscape.

The group is poised for substantive growth in 2024, fueled by increased demands in IT services, including cyber security, IoT, cloud solutions, and artificial intelligence.