Cantourage Group SE Reports Record Third Quarter Amid Medical Cannabis Boom

Cantourage Group SE, Europe's leading publicly listed cannabis company, announced a record revenue of EUR 13.2 million for the third quarter of 2024. This marks a 130% increase compared to the same period in 2023. The company also reported an EBITDA between EUR 0.9 million and EUR 1.1 million, indicating stable and profitable growth.

The medical cannabis market in Germany continues to expand since cannabis was removed from the Narcotics Act for therapeutic use on April 1, 2024. This change has simplified processes, leading to increased demand. Cantourage aims for a minimum of EUR 40 million in revenue by the end of 2024, as it leverages its global sourcing model to deliver pharmaceutical-grade cannabis products.

However, recreational cannabis legalization remains uncertain in Germany, affecting the market’s potential. Despite this, Cantourage focuses on the medical segment, deemed crucial for future growth and safety standards in European markets.