CANCOM SE — Earnings Release 2005

Mar 30, 2006

News Details

Corporate | 30 March 2006 08:29

CANCOM IT Systeme AG: final figures for financial 2005

Corporate-news transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— CANCOM IT Systeme AG: final figures for financial 2005 – Group sales of EUR 226.1 million as compared with EUR 206.9 million in 2004 (+ 9.3 percent) – Gross profit margin of 19 percent as compared with 16.9 percent – EBITDA of EUR 3.8 million as compared with EUR 2.8 million (+ 34.3 percent) – EBIT of EUR 2.4 million as compared with EUR 1.2 million (+ 90.8 percent) – Group net income of EUR 1.0 million as compared with EUR 0.1 million Jettingen-Scheppach, Germany, 30 March 2006 – As already announced on 14 February 2006, the audited figures for 2005 of the CANCOM Group show that it remained well on course for continuing growth in financial 2005. Group sales grew by 9.3 percent to EUR 226.1 million in 2005. A particularly pleasing development was the gross profit margin, which rose from 16.9 percent to 19.0 percent. The reason for this marked improvement in the Group’s earning power is the successful expansion of the service business. Group earnings before interest, taxes, depreciation and amortisation (EBITDA) improved from EUR 2.8 million in 2004 to EUR 3.8 million (+ 34.3 percent) in 2005. Group earnings before interest and taxes (EBIT) rose from EUR 1.2 million to EUR 2.4 million (+ 90.8 percent) year on year. Non-recurring restructuring expenses from the integration of acquisitions and a voluntary payment made to staff who had temporarily foregone salary payments in 2003 brought a total cost burden of EUR 0.4 million, so that the result shown is somewhat weaker than it would have been otherwise. Without this effect the EBITDA would have amounted to EUR 4.2 million (+ 48.1 percent) and the EBIT to EUR 2.8 million (+122.5 percent). There was a significant improvement in the Group net income which rose from EUR 0.1 million to EUR 1.0 million. Equity capital was increased from EUR 23.9 million to EUR 26.9 million. As total balance sheet assets went up significantly from EUR 57.6 million to EUR 70.1 million due to expanding activities, the equity ratio fell slightly and now stands at 38.4 percent as compared with 41.5 percent at 31 December 2004. Despite this expansion in activities, the Group achieved a positive operating cash flow of EUR 2.5 million in 2005 as compared with EUR 5.4 million in 2004. The free cash flow improved from EUR –0.3 million to EUR 4.6 million. Cash and cash equivalents rose by 64.1 percent to EUR 11.9 million. The Executive Board expects that sales will continue to grow in financial 2006 with a disproportionate increase in earnings as a result of the continuing expansion in service activities and also in view of the pick-up in the economy which is now beginning to make its mark felt. The Annual Report for 2005 will be made available during the course of the day at www.cancom.de/annual_report2005 If you have any queries, please contact: CANCOM IT Systeme AG Armin Blohmann Investor & Public Relations Messerschmittstrasse 20 89343 Jettingen-Scheppach Germany Phone: +49 (0)8225 996 1051 Fax: +49 (0)8225 996 4 1051 E-mail: armin.blohmann@cancom.de (c)DGAP 30.03.2006 ————————————————————————— language: English emitter: CANCOM IT Systeme AG Messerschmittstraße 20 89343 Jettingen-Scheppach Deutschland phone: +49 (0)82 259 96-1000 fax: +49 (0)82 259 96-41051 email: ir@cancom.de WWW: www.cancom.de ISIN: DE0005419105 WKN: 541910 indexes: stockmarkets: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service —————————————————————————