Cantourage Group SE: FY24 Guidance Promises Robust Growth

Cantourage Group SE has issued an optimistic FY24 sales growth guidance, driven by a notable increase in demand for medical cannabis following partial legalization in Germany beginning in April. The company forecasts FY24 sales between €37-43 million, supported by a strong performance in Germany and the UK. In August alone, Cantourage's sales reached €4.9 million, a 189% year-over-year increase.

During the first eight months of FY24, sales stood at €24.9 million, marking a 62% year-over-year growth. While management anticipates a positive FY24 EBITDA, analyst estimates place it at €1.8 million. The company is expanding production capacities, broadening its supplier network, and managing startup costs for its partnership with Portocanna.

Looking beyond 2024, Cantourage aims for €100 million in sales, supported by a global supplier network of over 60 growers. Its telemedicine platform, telecan°, provides direct patient contact for advice on cannabis therapies and easy prescription access. Market developments suggest a significant growth potential, with an estimated €1.2-1.4 billion market opportunity in Germany.