Cantourage Group (HIGH) H2 2024 earnings summary

Executive summary

• Annual financial statements for the year ended December 31, 2024, were audited and received an unqualified opinion from the independent auditor, confirming compliance with German accounting standards and a true and fair view of the company’s financial position and performance.

• The company generated all revenues from service contracts with its wholly owned subsidiaries, Cantourage GmbH and APSAT GmbH.

• The board proposes to carry forward the entire net profit for the year.

Financial highlights

• Revenue increased to €2,195,385.79, up from €1,662,431.59 year-over-year.

• Net income for 2024 was €79,292.20, compared to €38,677.77 in the previous year.

• Personnel expenses rose to €1,308,466.85 from €995,363.22 year-over-year.

• Other operating expenses increased to €894,968.40 from €609,635.36 year-over-year.

• Interest expenses of €13,555.53 were incurred due to a shareholder loan, which was fully repaid within the year.

Outlook and guidance

• The company’s ability to continue as a going concern was affirmed by the auditor, with no material uncertainties identified.

• The board recommends retaining earnings to strengthen the equity base.