Cantourage Group SE Achieves Significant Revenue and EBITDA Growth in 2023

Cantourage Group SE, a leader in the European cannabis market, reported a substantial revenue increase of 67% in 2023, amounting to EUR 23.6 million compared to EUR 14.2 million in the previous year. The company also noted its EBITDA improved significantly, reaching the break-even point with a strong positive shift of more than EUR 2.0 million from a negative EUR -2.5 million in 2022. April 2024 saw a particular surge with revenue growth at approximately 160% relative to April of the preceding year, following partial legalization of cannabis.

The growth in 2023 was primarily driven by optimized purchasing and sales strategies, new cannabis products, expansion into new markets, and enhanced internal processes. Cantourage also launched a telemedicine platform, Telecan, contributing positively to their business outcomes. With ongoing legal transformations under the "Cannabis Act," Cantourage anticipates that 2024 will continue to bring significant revenue increases, leveraging changes in cannabis regulation to expand prescriptions and reduce operational complexities.

Philip Schetter, CEO of Cantourage, expressed optimism about the future, citing the role of the new legal framework in potentially boosting the company's performance. The company predicts that the ongoing public discourse on cannabis will likely decrease hesitancy among healthcare providers and patients, leading to increased prescriptions and, consequently, sustained business growth.