Cancom (COK) KeplerCheuvreux 24th German Corporate Conference 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 focus on digital business services and strategic investments in innovation.

• Business model integrates hardware, software, consulting, support, and managed services, with revenue streams from both product sales and service contracts.

• 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 and emphasizes digital procurement and regional presence.

• Completed 40+ M&A transactions, expanding capabilities and regional reach, most recently integrating Austrian and German acquisitions.

Strategic focus and innovation

• Prioritizes artificial intelligence, Internet of Things, modern workplace solutions, datacenter & cloud, and security & network as core strategic areas.

• Launched CANCOM Assistant AI to enhance customer service and implemented AI-powered user help desk.

• Strategic partnership with ServiceNow to add higher-margin solutions.

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

• Streamlining internal processes and portfolio to focus on higher-margin, core areas.

Financial performance and key trends (Q3/9M 2024)

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

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

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

• 9M 2024 group revenue up 18.4% to €1,257.9m, driven by CANCOM Austria; EBITDA up 13% to €86.5m, margin at 6.9%.

• 9M 2024 international revenue surged 80% to €420.3m, EBITDA up 48.9% to €35.1m, margin at 8.3%.