Cancom (COK) Deutsches Eigenkapitalforum Presentation summary

Company history and business model

• Over 30 years of development, evolving from IT system house to managed and hybrid IT service provider, with a significant IPO in 1999 and major regional expansion in 2023 through acquisition.

• Business model integrates hardware, software, consulting, support, and managed services, focusing on digital transformation for clients.

• Operates with over 5,600 employees, 80+ locations in Central Europe, and serves more than 40,000 customers across public and private sectors.

• Maintains around 300 vendor relationships, emphasizing sustainability and regional presence.

• Completed 40+ M&A transactions, expanding capabilities and market reach.

Strategic focus and innovation

• Strategic priorities include artificial intelligence, Internet of Things, modern workplace, datacenter & cloud, and security & network.

• Launched CANCOM Assistant for AI-driven customer service and started strategic partnership with Service Now to enhance high-margin solutions.

• Ongoing shift toward service-based business and unified commerce, including web-shop and cloud marketplace initiatives.

• Integration of recent acquisitions (SBSK, Dextra Data) to strengthen regional presence and service portfolio.

• Internal efficiency measures include portfolio optimization, centralized resource management, and AI-powered help desk.

Financial performance and outlook

• Q3 2024 group revenue rose 1.6% to €422.6 million, but EBITDA fell 11.4% to €31.0 million, with margin at 7.3%.

• Segment Germany saw 5.5% revenue growth to €279.3 million, but EBITDA dropped 15.9% to €17.2 million; margin at 6.1%.

• International segment revenue declined 5.1% to €143.3 million, EBITDA down 4.8% to €13.7 million, margin at 9.0%.

• 9M 2024 group revenue up 18.4% to €1,257.9 million, driven by CANCOM Austria; EBITDA up 13% to €76.6 million.

• 2024 forecast revised downward: revenue €1,650–1,750 million, EBITDA €112–130 million, reflecting market uncertainty.