CANCOM Group Achieves Significant Growth in Challenging Market

CANCOM SE reported a 29.1% increase in group revenues, reaching €835.3 million in the first half of 2024, compared to €647.0 million in the previous year. EBITDA rose to €55.5 million from last year's €41.6 million. The operating cash flow stood at €68.6 million, surpassing the previous year's figures significantly.

The International business segment saw strong growth, largely due to the CANCOM Austria Group, while the Germany segment experienced a slight decline. Revenues for the International segment soared to €277.0 million, up from €82.5 million last year. In contrast, Germany’s revenues dropped by 1.1% to €558.4 million.

CEO Rüdiger Rath highlighted the sustained reluctance to invest among small and medium-sized enterprises. However, he noted an increasing demand for secure and efficient IT infrastructures, which could boost future growth in areas like Security & Networking and AI.

The Executive Board reaffirmed the financial year forecast, anticipating revenues between €1,750 to €2,000 million and an EBITDA of €130 to €155 million.