Cancom (COK) Investor presentation summary

Business model and priorities

• Portfolio spans hardware and software, system integration, professional services, support, managed services and XaaS.

• Focus areas include AI and digital solutions, IoT, workplace, datacenter and cloud, security and connectivity, and enterprise applications.

• Cybersecurity services range from consulting and compliance to managed services, incident response, red teaming and operation of the Cyber Defense Center.

• AI initiatives include NVIDIA AI Factory Specialization Partner status, the AI Factory Summit and Agentic AI Circle; 748 internal AI agents were active.

H1 and Q2 performance

• H1.26 revenue €775.9m, down 3.5% YoY; EBITDA €49.2m, up 34.0%; EBITDA margin 6.3% vs 4.6%.

• H1.26 headcount was 5,216, down 4.3% YoY.

• Q2.26 revenue €368.9m, down 6.2% YoY; EBITDA €22.2m, up 41.4%; margin 6.0% vs 4.0%, supported by improved gross profit and efficiency gains.

• Germany Q2 revenue €235.3m, down 5.5%; EBITDA €15.2m, up 210.2%; margin 6.5% vs 2.0%.

• International Q2 revenue €133.6m, down 7.4%; EBITDA €7.0m, down 35.2%; margin 5.3% vs 7.5%, impacted by EU public business.

Cash flow and capital allocation

• YTD.26 operating cash flow was -€109.6m; net cash was -€1.2m, compared with €85.0m in H1.25.

• YTD.26 CapEx was €9.0m; CapEx/revenue was 1.2% vs 1.0% in H1.25.

• 2026 share buyback runs 7 September–31 December, with a maximum net volume of €30.0m, up to 1,436,985 shares or 5.00% of share capital.