on CANCOM SE (isin : DE0005419105)
CANCOM SE Revises 2024 Financial Forecast Due to Market Uncertainties
Munich, 11 November 2024 - CANCOM SE has announced a revision of its financial forecast for 2024, citing increased uncertainties in market conditions. Recent political developments in core markets, Germany and Austria, are primarily influencing this decision. The company's third-quarter results showed a slight increase in sales to €422.6 million from €415.8 million the previous year. However, gross profit rose to €174.0 million, while EBITDA decreased to €31.0 million.
The Executive Board predicts changes in political environments will affect investments from public sector and SME customers, particularly in the decisive fourth quarter. Geopolitical and macroeconomic factors are also contributing to a tense business climate. Consequently, projected turnover for 2024 is now between €1,650 and €1,750 million, down from the initial forecast of €1,750 to €2,000 million. EBITDA expectations have been lowered to €112 to €130 million from the previous €130 to €155 million.
R. P.
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