CANCOM SE — Interim / Quarterly Report 2022

Nov 10, 2022

INTERIM STATEMENT Q3 2022

Key figures

CANCOM GROUP

in € million	9M 2022	9M 2021*
Revenue	925.1	932.8	- 0.8 %
Business volume	1,214.8	1,208.5	+ 0.5 %
Gross profit	321.0	310.2	+ 3.5 %
EBITDA	80.0	85.5	- 6.5 %
EBITDA margin	8.6 %	9.2 %	- 0.6 pp
EBITA	46.0	58.2	- 20.9 %
EBIT	42.7	53.5	- 20.1 %
Employees (average)	3,716	3,477	+ 6.9 %

	30.09.2022	31.12.2021*
Balance sheet total	1,247.5	1,406.6	- 11.3 %
Equity	691.1	814.1	- 15.5 %
Equity ratio	55.4 %	57.9 %	- 2.5 pp
Cash/equivalents	285.0	653.0	- 56.4 %

CLOUD SOLUTIONS

in € million	9M 2022	9M 2021*
Revenue	214.8	176.9	+ 21.4 %
EBITDA	61.9	55.4	+ 11.7 %
EBITDA margin	28.8 %	31.3 %	- 2.5 pp
ARR	211.2	170.4	+ 23.9 %

IT SOLUTIONS

in € million	9M 2022	9M 2021*
Revenue	709.9	755.7	- 6.1 %
EBITDA	31.0	42.7	- 27.4 %
EBITDA margin	4.4 %	5.7 %	- 1.3 pp

* All key financial figures for the financial year 2021 include the effects of the sale and deconsolidation of business activities in the United Kingdom and Ireland (CANCOM LTD) and the effects of the sale and deconsolidation of business activities in the USA (HPM Incorporated). Explanations of the deconsolidation of CANCOM LTD can be found in section A.2.2.2. of the half-year report 2022. Explanations on the classification of the CANCOM USA Group can be found in section A.2.2.3. of the half-year report 2022.

Table of contents

• 4 Fundamentals of the group
• 5 Economic report
• 12 Forecast report
• 15 Consolidated balance sheet
• 17 Consolidated Statement of Total Comprehensive Income
• 20 Consolidated Cash Flow statement
• 21 Segment Information

Group Interim Report

for the period 1 January to 30 September 2022

FUNDAMENTALS OF THE GROUP

The CANCOM Group (hereinafter referred to as "CANCOM" or "CANCOM Group") is one of the leading providers of IT services and IT infrastructure in Germany. In addition to its activities in its home market of Germany, the Group has subsidiaries or branches in Austria, Switzerland, Belgium and Slovakia.

Structure of the CANCOM Group

The parent company of the CANCOM Group is CANCOM SE, based in Munich, Germany. It performs central financing and management functions for the Group companies, i.e. the investments it holds. In addition to the central management and financing activities of the parent company, the operating units are supported in their day-to-day business operations by likewise centralised departments for purchasing, internal IT, warehousing/ logistics, finance, vehicle and travel management, repair/service and human resources ("Central Services") as well as marketing/ communications and product management. In addition, an internal specialised sales department ("Competence Centre") is available to the operational units across the organisation.

In addition to these centralised functions, CANCOM's operating units are primarily decentralised and operate in units that are primarily structured by region. The organisation comprises the regional units South, Southwest, Central, East, North and West as well as locations in Belgium and Slovakia.

In addition, there are the nationally operating business units Managed Services, Public, eCom and Remarketing.

In its financial reporting, the CANCOM Group reports on the development of its operating business through two segments in addition to the Group as a whole: Cloud Solutions (IT as a Service) and IT Solutions (IT as a Concept).

Cloud Solutions

The Cloud Solutions (IT as a Service) business segment includes the (remote and/or shared) managed services business as well as product and service businesses (hardware, software and services) that can be directly assigned to managed services customers. In

addition, there are consumption-based purchase models (XaaS), the AHP Enterprise Cloud as well as cloud licences and rental models. Characteristic of such contracts are, among other things, recurring revenues for service-level-based services and/or services with defined response times. As part of its service offering, the CANCOM Group is able to take over the complete or partial operation of IT for customers with such scalable as-a-service services - in particular shared managed services.

In the context of providing as-a-service services, "cloud" refers to a cloud delivery architecture with location- and device-independent and usually broadband network-based access - especially data and application access - to central IT resources. In this as-a-service segment, CANCOM offers customers the necessary guidance and support for the transformation of their corporate IT into a cloud delivery architecture and for its operation.

For further details on the Cloud Solutions segment, please refer to section D.1.1. in the notes to the consolidated financial statements of the CANCOM Group's Half-Year Report 2022.

IT Solutions

The business segment IT Solutions (IT as a Concept) includes the business around the comprehensive support of IT infrastructure and applications. It includes IT strategy consulting, project planning and implementation, system integration, IT procurement via eProcurement services or within the scope of projects, as well as professional IT services and support.

For further details on the IT Solutions segment, please refer to section D.1.1. in the notes to the consolidated financial statements of the CANCOM Group's Half-Year Report 2022.

Other companies

In addition to the operating segments, the CANCOM Group's segment reporting also includes the Other Companies segment. This segment covers the staff and management functions for central Group management, including the parent company CANCOM SE. Intra-group investments and expenses for company acquisitions or disposals are also included in this segment.

Changes in the reporting period

On 14 July 2022 CANCOM announced the conclusion of an agreement to take over the shares of all subsidiaries of the S&L Group based in Mühlheim-Kärlich. With its system house and IT services business, the S&L Group generated revenue of around € 15 million in the financial year 2021 and currently has around 100 employees. The date of initial consolidation was 1 August 2022.

In the third quarter of the financial year, the subsidiary HPM Incorporated, in which the operating business of the CANCOM Group in the United States of America was combined, was sold. HPM Incorporated was deconsolidated on 1 September 2022.

Business model and sales markets

CANCOM's product and service portfolio is geared towards advising and supporting corporate customers and public sector clients in adapting IT infrastructures and processes to the requirements of digitalisation. CANCOM acts as a provider of complete solutions and sees itself as a "Hybrid IT Service Provider" for the customer.

The service spectrum ranges from strategic consulting for digital (business) processes to the partial or complete operation of IT systems (primarily by means of managed services and standardised as-a-service offers), to system design and integration, IT support, delivery and turnkey implementation of hardware and software, e-procurement, logistics services and the remarketing of used IT.

This broad-based product and service offering enables the CANCOM Group to generate revenue both on the basis of the company's own skills and services (service business) and from remuneration and commissions for the sale of third-party IT products (sale of goods). Within this business model, management is pursuing a medium-term course of strategic transformation of the CANCOM Group into a Hybrid IT Service Provider, in which an increasing proportion of business activity is to be the provision of IT services, specifically shared managed services.

In geographical terms, the CANCOM Group does business primarily in Germany, but also in Austria, Belgium and Switzerland. A key external factor influencing CANCOM's business development is therefore the development of the IT market in its largest sales markets, Germany and Austria. For these markets as a whole – and therefore also for CANCOM – the general trend towards digitalisation is a key driver. The importance of IT processes in business, administration, the

education sector and healthcare is increasing. New application possibilities for IT-based solutions and investments to improve existing infrastructures are contributing to market development.

Important external factors that CANCOM cannot influence and that may have a positive or negative impact on business development are, in particular, data protection regulations, the general threat situation in the area of cyber security, and also the quality certifications and environmental and social standards required by customers. As a provider of IT services and products, the CANCOM Group's business model is not subject to any special industry-specific legal provisions, licensing requirements or official supervision, i.e. external regulatory or politically influenced factors that go beyond the legal framework generally applicable to all companies. In addition, the availability of IT hardware and software on the world market is an external factor that cannot be influenced.

The CANCOM Group's customer base primarily comprises commercial end users, ranging from small and medium-sized enterprises to large companies and corporations, as well as public institutions.

ECONOMIC REPORT

Development of the overall economy and the IT market

With a revenue share of over 90 percent, Germany is the most important sales market for the CANCOM Group. The most important foreign market is Austria. In addition to the general economic development in these country markets, the overall market for information and communication technology (ICT) especially in Germany - also forms an essential framework and basis of comparison for assessing CANCOM's economic development.

Germany

The Federal Statistical Office estimates that Germany's gross domestic product (GDP) grew by 0.3 percent in the third quarter of 2022 compared to the previous quarter. This means that GDP grew for the third quarter in a row in 2022, following growth of 0.8 percent and 0.1 percent in the first and second quarters of the year, respectively. As in the previous quarters, the development of GDP reflects the difficult global economic environment with the ongoing Corona pandemic, the still incomplete normalisation of supply chains, inflation and the war in Ukraine. Shortly after the end of the reporting period, the International Monetary Fund (IMF) raised its forecast for economic development in Germany by 0.3 percentage points in October 2022 on the basis of developments in the first nine months of the year. The IMF thus expects 1.5 percent GDP growth for Germany in 2022.

Austria

For Austria, CANCOM's most important foreign market, GDP in the third quarter of 2022 was 0.1 percent lower than in the previous quarter, according to the European statistics authority Eurostat. In the first and second quarters, recorded growth of 1.3 percent and 1.9 percent respectively.

Gross domestic product (GDP) 2022* (Change compared to previous quarter in %)
	Q1 2022	Q2 2022	Q3 2022
Germany	+ 0.8	+ 0.1	+ 0.3
Austria	+1.3	+ 1.9	- 0.1

*) Source: Eurostat, October 2022.

ICT market

The expectations of the industry association Bitkom for the development of the ICT market in Germany, the most important sales market for the CANCOM Group, had improved slightly over the course of the financial year. For the entire information and communication technology market segment, the growth forecast was raised by 0.7 percentage points to 4.7 percent compared to the forecast at the beginning of the year . This means that the market volume of the ICT market is expected to rise to € 180.7 billion in 2022. In the largest ICT submarket of information technology, which is particularly important for CANCOM, Bitkom now expects growth of 6.7 percent to € 113.0 billion in 2022.

*) Source: Bitkom/IDC, July 2022.

The survey from July of the year is only of limited value due to the time lag between the publication of this quarterly statement and the developments since the summer. According to the industry association Bitkom, business expectations in the ITC sector have recently fallen due to the current uncertainty about future economic development.

Business performance in the first nine months of 2022

In the reporting period from 1 January to 30 September 2022, the CANCOM Group generated revenue of € 925.1 million (previous year (adjusted): € 932.8 million). The main reasons for this development were the supply bottlenecks for IT components and the special situation of delayed call-offs from existing framework agreements with public-sector clients in the first half of 2022. By contrast, business with corporate customers developed well. The availability of IT components improved in the course of the second and third quarters. Also at the end of the second quarter, call-offs from public sector customers increased and have since supported the revenue development. The generally gloomy economic outlook, on the other hand, has so far had no direct negative impact and order intake was at a high level overall in the first nine months of 2022. The CANCOM Group achieved EBITDA of € 80.0 million in the first nine months of 2022 (previous year (adjusted): € 85.5 million).

Looking at the CANCOM Group's business segments, the very significant growth of the Cloud Solutions segment supported the business development of the CANCOM Group, while the contribution of the IT Solutions segment was lower than in the previous year.

Order situation - Annual Recurring Revenue

Within the Group's Cloud Solutions segment, CANCOM represents the business with the provision of managed services, consumption-based sourcing models (XaaS), the AHP Enterprise Cloud as well as cloud licences and rental models. Such contracts result in recurring revenue over a fixed multi-year contract term. Plannable recurring revenue enables a projection of expected future revenue over the next twelve months, starting from the last month of the respective reporting period. This Annual Recurring Revenue (ARR)1 totalled € 211.2 million at the end of the third quarter of 2022, an increase of 23.9 percent year-on-year (30 September 2021: € 170.4 million). Organic growth2 of the ARR in the reporting period was 21.9 percent.

1 ARR = Monthly Recurring Revenue from the provision of Managed Services, from consumption-based subscription models (XaaS), the AHP Enterprise Cloud and from cloud licences and rental models x 12 months

Explanation of the Alternative Performance Measures (APM) used in accordance with the APM guidelines of the European Securities and Markets Authority (ESMA):

² Organic share of financial ratios = respective financial ratio (GAAP or non-GAAP) - contributions from companies that have been part of the scope of consolidation for less than 12 months

In the IT Solutions segment, information on the order situation as of the reporting date is not meaningful. This is due to the way in which contracts are often structured. They often cover longer periods, but their volume can change within these periods (framework agreements). However, there can also be very short periods between the order and the realisation of sales. Reporting on the volume of orders is therefore not meaningful and for this reason is not included in the CANCOM Group's financial reports.

Employees

As at 30 September 2022, the CANCOM Group had 3,826 employees (30 September 2021 (adjusted): 3.527). This represents an increase of 8.5 percent compared to the previous year's reporting date.

The staff members were active in the following areas:

CANCOM Group: Employees

	30.09.2022	30.09.2021	30.09.2021 (adjusted*)
Professional Services	2,314	2,106	2,091
Distribution	838	824	810
Central Services	674	639	626
Total	3,826	3,569	3,527

*) Adjustment: Number of employees as at 30 September 2021 excluding employees of the CANCOM USA Group.

The average number of employees in the first nine months of 2022 was 3,716 (previous year's period (adjusted): 3,477 employees).

Results of operations, financial position and net assets of the CANCOM Group

Earnings situation

Notes:

As a result of the sale of the business activities in the United Kingdom and Ireland, the business results of the associated Group companies are summarised in full in the CANCOM Group's income statement under the item "Result from discontinued operations". The key financial figures of the income statement presented below are therefore shown for the prior-year period without the contributions of the business activities in the United Kingdom and Ireland. Detailed explanations can be found in section A.2.2.3 of the notes to the consolidated financial statements in the CANCOM Group Annual Report 2021.

Furthermore, the business activities in the United States of America (CANCOM USA Group) were sold at the beginning of september 2022 and also correspond to the item "Result from discontinued operations". The key financial figures of the income statement presented below are therefore shown for the prior-year period and the current reporting period without the contributions of the business activities in the United States of America. Explanations can be found in section A.2.2.3 of the notes to the consolidated financial statements of the CANCOM Group's halfyear report 2022..

CANCOM is using the alternative performance measure "business volume" for the first time in this interim statement. The business volume represents the revenue that would have arisen in relation to maintenance/warranty contracts and software licence agreements if the headmaster had been assumed to be acting (see section A.3.2.2 of the 2021 consolidated financial statements). An agent revenue reduction to be made in accordance with IFRS 15 is consequently reversed for the determination of the business volume.

CANCOM Group: Revenue (in € million)
9M 2022	925.1
9M 2021*	932.8
*) Adjusted

In the first nine months of the financial year 2022, the CANCOM Group achieved consolidated revenue of € 925.1 million (previous year (adjusted): € 932.8 million). Organically, i.e. without the influence of acquisitions, the CANCOM Group achieved revenue of € 922.6 million. In the reporting period, CANCOM generated € 651.9 million (previous year (adjusted): € 670.8 million) from the sale of goods, i.e. in particular hardware and software: € 670.8 million) and from the provision of services € 273.1 million (previous year (adjusted): € 262.0 million).

Geographically, the CANCOM Group's revenue in the reporting period in Germany was € 843.4 million (previous year (adjusted): € 888.7 million). In international business, revenue was € 81.6 million (previous year (adjusted): € 44.0 million).

In the Cloud Solutions Group segment, CANCOM achieved a year-on-year increase in revenue in the first nine months of 2022 to € 214.8 million (previous year: € 176.9 million). Organically, revenue of € 214.3 million was achieved. In the IT Solutions group segment, revenue in the same period amounted to € 709.9 million (previous year (adjusted): € 755.7 million). Organically, € 707.8 million were achieved.

In the third quarter of 2022, the CANCOM Group's revenue was € 329.6 million (previous year (adjusted): € 297.7 million). Organically, revenue reached € 327.1 million. In the Cloud Solutions segment, revenue improved in the third quarter to € 69.2 million (previous year: € 63.0 million). Organically, revenue of € 68.7 million was achieved. The IT Solutions segment achieved revenue of € 260.3 million in the third quarter of 2022 (previous year (adjusted): € 234.7 million). Organically, € 258.2 million were achieved.

The business volume3 of the CANCOM Group, i.e. correspondingly before the application of IFRS 15 with classification of transactions as principal (gross disclosure) or agent (net disclosure), totalled € 1,214.8 million between January and September 2022 (previous year (restated): € 1,208.5 million).

In the third quarter, the business volume amounted to € 410.4 million (previous year (adjusted): € 377.8 million).

The CANCOM Group's other operating income rose to € 11.4 million in the first nine months of 2022 (previous year (adjusted): € 6.3 million). In the third quarter, other operating income was € 4.8 million (previous year (adjusted): € 1.4 million).

The total operating performance of the CANCOM Group in the reporting period from January to September 2022 was € 941.6 million (previous year (adjusted): € 943.5 million). In the third quarter, total operating revenue was € 335.8 million (previous year (adjusted): € 300.3 million).

CANCOM Group: Cost of materials (in € million)
	9M 2022	9M 2021*
Cost of materials/cost of purchased
services	-620.5	-633.3

*) Angepasst

The CANCOM Group's cost of materials in the first nine months of 2022 totalled € 620.5 million (previous year (adjusted): € 633.3 million). In the third quarter of 2022, the figure was € 226.8 million (previous year (adjusted): € 197.4 million).

*) Adjusted

The gross profit4 of the CANCOM Group increased in the first nine months of 2022 compared to the same period of the previous year to € 321.0 million (previous year (adjusted): € 310.2 million). The gross profit margin in the reporting period was 34.7 percent (previous year: 33.3 percent).

The third quarter of 2022 produced a consolidated gross profit of € 109.1 million (previous year (adjusted): € 102.9 million) and the gross profit margin was 33.1 percent (previous year: 34.6 percent).

CANCOM Group: Personnel expenses

(in € million)

	9M 2022	9M 2021*
Wages and salaries	-169.8	-161.4
Social security contributions	-30.3	-28.8
Equity-settled share-based payment transactions	+0.1	-1.0
Expenses for retirement benefits	-0.3	-0.2
Share-based payments with cash settlement	-0.1	0.0
Total	-200.4	-191.5

*) Adjusted

Personnel expenses amounted to € 200.4 million in the first nine months of 2022 and were thus higher than in the same period of the previous year (previous year (adjusted): € 191.5 million). The personnel expense ratio was 21.7 percent (previous year: 20.5 percent).

In the third quarter of 2022, personnel expenses amounted to € 64.8 million (previous year (adjusted): 59.5 million) and the personnel expense ratio was 19.7 percent (previous year: 20.0 percent).

Other operating expenses amounted to € 39.8 million in the first nine months of 2022 (previous year (adjusted): € 32.7 million).

For the third quarter, other operating expenses amounted to € 14.8 million (previous year (adjusted): € 10.6 million).

Explanation of the Alternative Performance Measures (APM) used in accordance with the APM guidelines of the European Securities and Markets Authority (ESMA):

3 Business volume = Turnover before adjustment according to IFRS 15 (principal/agent classification); corresponds to accounting before 2020

4 Gross profit = total output (sales revenue + other operating income + other own work capitalised + capitalised contract costs) less cost of materials/expenses for purchased services

CANCOM Group: EBITDA (in € million)

In the reporting period from January to September 2022, the EBITDA5 of the CANCOM Group was € 80.0 million (previous year (adjusted): € 85.5 million). Organically, an EBITDA of € 79.8 million was achieved.

In the Cloud Solutions segment, EBITDA rose to € 61.9 million in the first nine months of 2022 (previous year (adjusted): € 55.4 million). Organically, € 61.8 million was achieved. In the IT Solutions segment, EBITDA in the same period amounted to € 31.0 million (previous year (adjusted): € 42.7 million). Organically, € 30.9 million was achieved.

In the third quarter of 2022, the EBITDA of the CANCOM Group was € 28.9 million (previous year (adjusted): € 32.6 million). Organically, the figure was € 28.7 million.

In the Cloud Solutions segment, EBITDA rose to € 20.4 million in the third quarter compared to the previous year (previous year: € 20.1 million). Organically, € 20.3 million was achieved. In the IT Solutions segment, EBITDA in the third quarter amounted to € 13.1 million (previous year (adjusted): € 16.5 million). Organically, € 13.0 million was achieved.

*) Adjusted

In the reporting period from January to September 2022, the EBITDA margin of the CANCOM Group was 8.6 percent (previous year: 9.2 percent).

The EBITDA margin in the Cloud Solutions segment was 28.8 percent in the nine-month period (previous year: 31.3 percent). The EBITDA margin in the IT Solutions segment in the same period was 4.4 percent (previous year: 5.7 percent). In the third quarter of 2022, the EBITDA margin for the CANCOM Group was 8.8 percent (previous year: 11.0 percent).

In the Cloud Solutions segment, the EBITDA margin for the third quarter was 29.4 percent (previous year: 31.9 percent) and in the IT Solutions segment 5.1 percent (previous year: 7.0 percent).

The CANCOM Group's EBITA6 in the first nine months of the current financial year amounted to € 46.0 million (previous year (adjusted): € 58.2 million).

In the Cloud Solutions business segment, EBITA improved to € 51.3 million in the reporting period (previous year (adjusted): € 46.2 million). In the IT Solutions segment, however, EBITA was € 9.6 million (previous year (adjusted): € 25.4 million).

In the third quarter the CANCOM Group achieved EBITA of € 15.1 million (previous year (adjusted): € 22.7 million).

In the Cloud Solutions business segment, EBITA reached € 16.7 million in the third quarter (previous year: € 16.9 million). In the IT Solutions segment, EBITA amounted to € 4.3 million (previous year (adjusted): € 10.0 million).

CANCOM Group: EBIT (in € million)
9M 2022	42.7
9M 2021*	53.5

The CANCOM Group's EBIT7 in the first nine months of the current financial year was € 42.7 million (previous year (adjusted): € 53.5 million).

In the Cloud Solutions segment, EBIT in the reporting period amounted to € 48.9 million (previous year (adjusted): € 43.0 million) and in the IT Solutions segment EBIT was € 8.7 million (previous year (adjusted): € 24.2 million).

Explanation of the Alternative Performance Measures (APM) used in accordance with the APM guidelines of the European Securities and Markets Authority (ESMA):

⁵ EBITDA = profit for the period + income taxes + foreign exchange gains/losses + depreciation and amortisation of financial assets + income from investments + other financial result + interest result + depreciation and amortisation of property, plant and equipment, intangible assets and rights of use

⁶ EBITA = Profit for the period + income taxes + foreign exchange gains/losses + write-downs of financial assets + income from investments + other financial result + interest result + amortisation of customer bases, order backlogs, brands and impairment of goodwill

⁷ EBIT = profit for the period + income taxes + currency gains/losses + write-downs on financial assets + income from investments + other financial result + interest result

For the third quarter of 2022, the CANCOM Group's EBIT amounted to € 13.9 million (previous year (adjusted): € 21.2 million). In the Cloud Solutions segment, EBIT in the third quarter rose year-on-year to € 15.9 million (previous year: € 15.6 million). In the IT Solutions segment, however, EBIT was € 4.0 million (previous year (adjusted): € 9.8 million).

CANCOM Group: Result for the period (in € million)
9M 2022	27.3
9M 2021*		260.9
*) Adjusted

As a result of the first nine months of the financial year, the CANCOM Group's profit for the period amounted to € 27.3 million (previous year (adjusted): € 260.9 million). The profit for the period from continuing operations in the same period was € 29.1 million (previous year (adjusted): € 32.2 million).

In the third quarter of 2022, the CANCOM Group's profit for the period was € 7.2 million (previous year: € 238.8 million).

The strongly increased previous year's values were based on the profit from the sale of the business activities in the United Kingdom.

In the income statement, the results of operations of the sold companies in the United Kingdom for 2021 and the extraordinary contribution to earnings from the sale of the same as well as the contribution to earnings of the companies also sold in the USA in 2021 and 2022 are shown together in the item "Result from discontinued operations".

Financial and asset position

Principles and objectives of financial management

The core objective of CANCOM's financial management is to ensure liquidity at all times in order to guarantee daily business operations. In addition, the aim is to optimise profitability and, associated with this, to achieve the highest possible credit rating in order to secure favourable refinancing. The financing structure is primarily geared towards long-term stability and maintaining financial room for manoeuvre to take advantage of business and investment opportunities.

Capital structure of the Group

The total assets of the CANCOM Group as at the reporting date of 30 September 2022 amounted to € 1,247.5 million (31 December 2021: € 1,406.6 million). On the liabilities side, € 691.1 million of this was attributable to equity and € 556.4 million to debt. The CANCOM Group's equity ratio at the end of September was 55.4 percent, which is below the level at the end of the 2021 financial year (31 December 2021: 57.9 percent). Accordingly, the debt ratio rose to 44.6 percent (31 December 2021: 42.1 percent). The shift in the balance sheet structure resulted primarily from the share buyback carried out. Both non-current and current financial liabilities to banks have a very low volume of € 2.5 million compared to total liabilities (31 December 2021: € 2.0 million). The amount of cash and cash equivalents as at the reporting date of 30 September 2022 covers this amount of interest-bearing financial liabilities. Thus, there is no net financial debt of the group or this key figure is negative ("net cash" situation).

Debt and equity

Current liabilities, i.e. liabilities with a remaining term of less than one year, totalled € 430.1 million as at the balance sheet date of 30 September 2022 (31 December 2021: € 468.1 million). The change compared to December 2021 is due in particular to the decrease in trade payables, other current liabilities and current contractual liabilities.

At € 126.3 million, non-current liabilities were roughly at the same level as at 31 December 2021 (31 December 2021: € 124.5 million) without any significant changes to the individual items.

At € 691.1 million, equity was down on the comparative figure as at the balance sheet date (31 December 2021: € 814.1 million). The reduction in equity was mainly caused by the share buyback in the reporting period.

Essential financing measures

The financing of current business and necessary replacement investments was carried out from cash and cash equivalents and the operating cash flow in the reporting period. The same applies to all other investments.

Assets

The assets side of the balance sheet showed current assets of € 899.7 million as at 30 September 2022 (31 December 2021: € 1,071.7 million). Cash and cash equivalents decreased in the first nine months of 2022 to € 285.0 million as at 30 September 2022 (31 December 2021: € 653.0 million) and were thus the main factor in the decrease in current assets. This was offset by an increase in trade receivables to € 405.5 million (31 December 2021: € 299.1 million) and higher inventories of € 143.1 million (31 December 2021: € 72.1 million).

Non-current assets amounted to € 347.8 million as at 30 September 2022 (31 December 2021: € 334.9 million). Changes occurred primarily in goodwill, which increased to € 122.0 million as a result of the acquisition of the S&L Group (31 December 2021: € 113.5 million), and in other non-current financial assets, which increased to € 26.6 million as at the balance sheet date (31 December 2021: € 20.3 million).

Cash flow and liquidity

Based on a result for the period of € 27.3 million (previous year: € 260.9 million), the cash flow from operating activities for the reporting period from January to September 2022 is € -169.7 million (previous year: € -48.8 million). The main drivers of this development were, on the one hand, the increase in trade receivables and, on the other hand, the increased inventories, both compared to the level on 31 December 2021. At the same time, the level of trade payables and other liabilities was reduced overall, which also had a negative impact on the cash flow from operating activities. Overall, the current capital commitment in the company is unusually high due to the exceptional situation in the IT supply chain. In addition, there was a one-off special effect due to the changeover to a new ERP system in the CANCOM Group, which had a negative impact on the operating cash flow in the third quarter, but will gradually balance out in the following months.

Cash flow from investing activities in the first nine months of 2022 amounted to € -33.4 million and was thus back at a normal level for CANCOM after the previous year's figure (previous year: € 339.5 million), which was sharply higher due to the sale of business activities in the United Kingdom. The main extraordinary influencing factor in the current reporting period was the payments of € 10.3 million in connection with the acquisition of the S&L Group.

At € -164.9 million, the cash flow from financing activities in the reporting period was below the value of the comparable period (previous year: € -47.1 million). The cash flow was significantly influenced by the payments of € 117.4 million for the repurchase of treasury shares as part of the 2021 share buyback programme. Dividend payments of € 35.4 million were also recognised due to the dividend increase for the shares of CANCOM SE.

After the first nine months of 2022, there was thus a decrease of € 368.0 million in cash and cash equivalents compared to the cash and cash equivalents at the beginning of the financial year. Cash and cash equivalents amounted to € 285.0 million as at 30 September 2022 (31 December 2021: € 653.0 million).

As a result, the CANCOM Group has a high positive level of cash and cash equivalents as at the reporting date of 30 September 2022 and can draw on unused credit lines with financial institutions as at the reporting date of this third-quarter announcement. This puts the CANCOM Group in an exceptionally strong position to meet its payment obligations at all times.

Events after the end of the reporting period

On 31 October 2022, the Executive Board of CANCOM SE adjusted the annual forecast for the CANCOM Group for the financial year 2022. For details on the adjustment of the forecast, please refer to the section "Forecast for the CANCOM Group" in the forecast report of this interim statement.

After the end of the reporting period, Mr Rüdiger Rath, the previous COO of the CANCOM Group, took over the position of CEO of CANCOM SE from Mr Rudolf Hotter on 1 November 2022.

Risks and opportunities of future development

In the reporting period, there have been no significant changes to the assessment of opportunities and risks with regard to the future development of the CANCOM Group already published in the Annual Report 2021. This is particularly the case because the current development of the global economy and the geopolitical situation, as well as the tense situation in the supply chain for IT components, are reflected in two items in particular, the "economic and (geo-)political risks" and the "supplier dependency risks" within the risk management system. These positions are already assessed as high risks in the risk assessment published in the Annual Report 2021 and are therefore in the highest possible risk level. Due to current events and the economically dynamic market situation, the "internal risks" were also continuously monitored and reviewed. However, no adjustment of the risk

categorisation is required for the aforementioned risk class compared to the Annual Report 2021. A detailed list of these opportunities and risks can be found in the Annual Report 2021, which was published on 29 March 2022.

FORECAST REPORT

The Executive Board updated the forecast for the CANCOM Group in an ad hoc announcement on 31 October 2022.

Premises of the forecast

The forecasts for the CANCOM Group and CANCOM SE include all information known to the Executive Board at the time of preparing this report that could have an influence on business development. The outlook is based, among other things, on the expectations described below with regard to economic development and the development of the IT market.

With regard to the CANCOM Group as a whole and the individual Group segments IT Solutions and Cloud Solutions, unforeseeable events could influence the development of the Company or individual Group segments expected from today's perspective. Such events include, for example, the consequences of short-term legal or regulatory changes. Such events are not taken into account in the forecast.

The forecast developments in the financial performance indicators relate exclusively to the development of the CANCOM Group in its Group structure as at the reporting date of 31 December 2021 (consolidated group), taking into account the spin-off of business activities in the USA from the forecast indicators in July 2022. Any acquisitions in the current financial year 2022 are not taken into account.

Development of the overall economy and the IT market

Overall economy

With a revenue share of around 90 percent, Germany is the most important sales market for the CANCOM Group. The most important foreign market is Austria. For all country markets in which CANCOM is active, Deutsche Bank forecasts GDP growth for 2022.

Gross domestic product outlook 2022* (Change on previous year in %) Germany +1.0 % Austria +4.3 % *) Source: Deutsche Bank Research, September 2022.

In addition to the general economic development in these country markets, the overall market for information and communication technology - especially in Germany - also forms an essential framework and basis of comparison for assessing the economic development of CANCOM.

ICT market

According to Bitkom, the industry association for the ICT sector, the market volume for information and communication technology (ICT) in Germany will grow by 4.7 percent in 2022 and rise to € 180.7 billion. The current outlook thus points to growth in the ICT market at the level of the previous year. The development will be positively driven by the largest sub-market in the ICT sector in terms of volume, the market for information technology (IT), which is particularly significant for CANCOM. Here Bitkom expects growth of 6.7 percent to € 113.0 billion (previous year: 6.6 percent), distributed among the individual market segments as follows:

Outlook: Information technology (IT) market 2022, Germany* (Change compared to previous year in %)

*) Source: Bitkom/IDC, July 2022.

Based on the course of business in the first nine months of the year and the currently foreseeable developments, the Executive Board assumes that demand in the ICT market will remain at the level forecast by Bitkom in the fourth quarter despite the worsening macroeconomic situation. However, supply bottlenecks for certain hardware components have not completely disappeared in the course of the year and continue to weigh on market development.

General conditions of the forecast

The forecasts of market observers such as the International Monetary Fund (IMF) for general economic development in the country markets relevant to CANCOM in 2022 have fallen in the course of the first half of the year. In addition, the industry association Bitkom has noted an increasing clouding of the business climate since the third quarter. The Executive Board assumes that the gloomy outlook will only have a minor impact on the CANCOM Group in the current financial year.

In the opinion of the Executive Board of CANCOM SE, in addition to these economic conditions for CANCOM, an important framework condition of the forecast is that the supply situation for IT components and products continues to normalise and remains at the level forecasted by Bitkom despite the worsened macroeconomic outlook. The order intake after the first nine months of the year remains at a high level and the order backlog is thus unchanged. The special situation of delayed call-offs from existing framework agreements with public clients, which extended into the second quarter, continued to normalise in the third quarter after easing at the end of the second quarter.

Forecast for the CANCOM Group

Following the increasing normalisation of business activity in the third quarter, the Executive Board specified its expectations for the development of the CANCOM Group on 31 October 2022. Based on the figures for the third quarter and taking into account the expected business activity in the fourth quarter, the Executive Board now expects:

Group revenue 2022: € 1,280 to 1,330 million (previously: "significant growth" compared to adjusted previous year's figure of € 1,286.0 million)

Group gross profit 2022: € 435 to 445 million (previously: "significant growth" compared to adjusted previous year's figure of € 425.6 million)

Group EBITDA 2022: € 116 to 123 million (previously: "significant growth" compared to adjusted previous year's figure of € 122.6 million)

Group EBITA 2022: € 70 to 76 million (previously: "significant growth" compared to adjusted previous year's figure of € 85.2 million)

For the Cloud Solutions segment, the Executive Board is planning the following figures for the 2022 financial year:

Cloud Solutions revenue 2022: € 280 to 290 million (previously: "significant growth" compared to adjusted previous figure of € 238.4 million)

Cloud Solutions EBITDA 2022: € 84 to 90 million (previously: "significant growth" compared to adjusted previous year's figure of € 80.1 million)

Annual Recurring Revenue (ARR) as of 31 December 2022: € 215 to 225 million (previously: "very significant growth" compared to adjusted previous year's figure of € 181.8 million)

For the IT Solutions segment, the Management Board is planning the following figures for the 2022 financial year:

IT Solutions revenue 2022: € 1,000 to 1,040 million (previously: "significant growth" compared to adjusted previous year's figure of € 1,047.3 million)

IT Solutions EBITDA 2022: € 48 to 53 million (previously: "significant growth" compared to adjusted previous year's figure of € 59.7 million)

The influence of the emerging economic slowdown and the geopolitical crises on the short-term business development of the CANCOM Group, which is difficult to assess, as well as the further development of the IT supply chain situation and inflation are the main risks for the forecast.

Munich, November 2022

The Executive Board of CANCOM SE

CEO CFO

Rüdiger Rath Thomas Stark

Note on the audit review

This document was neither subject to an audit pursuant to Section 317 of the German Commercial Code (HGB) nor to a review by an auditor.

Note rounding

Due to rounding, individual figures in this document may not add up precisely to the totals provided and percentages presented may not precisely reflect the absolute figures to which they relate.

Disclaimer future-oriented statements

This document contains statements which may relate to the future course of business and future financial performance, as well as to future events or developments affecting CANCOM, and may constitute forward-looking statements. These are based on current expectations, assumptions and estimates by the Executive Board, and on other information currently available to management, many of which are outside CANCOM's sphere of influence. These statements can be recognized by formulations and words such as "expect", "want", "assume", "believe", "aim", "estimate", "assume", "expect", "intend", "could", "plan", "should", "will", "predict" or similar terms. All statements, other than statements of historical fact, are forwardlooking statements. Such forward-looking statements include, but are not limited to expectations regarding the availability of products and services, the financial and earnings position, business strategy and management's plans for future operating activities, economic developments and all statements regarding assumptions. Although these statements are made with great care, CANCOM, represented by the Executive Board, cannot guarantee the accuracy of the expectations, especially in the forecast report. Various known and unknown risks, uncertainties and other factors may cause the actual results to differ significantly from those contained in the forward-looking statements. The following factors, among others, are of significance in this context: external political influences, changes in the general economic and business situation, changes in the competitive position and situation, e.g. due to the appearance of new competitors, new products and services, new technologies, changes in the investment behavior of customer target groups, etc., as well as changes in business strategy. Should one or more of these risks or uncertainties materialize, or should it turn out that the underlying expectations do not materialize or that the assumptions made were incorrect, CANCOM's actual results, performance and achievements (both negative and positive) may differ substantially from those explicitly or implicitly stated in the forwardlooking statement. No guarantee can be given for the appropriateness, accuracy, completeness or correctness of the information or opinions in this document. Furthermore, CANCOM does not assume any obligation and does not intend to update these forward-looking statements or to correct them in the event of developments other than those expected.FORECAST REPORTNote on the audit review

This document was neither subject to an audit pursuant to Section 317 of the German Commercial Code (HGB) nor to a review by an auditor.

Consolidated balance sheet

ASSETS

(in T€)	30.9.2022	31.12.2021	30.9.2021
Current assets
Cash and cash equivalents	284,983	652,965	582,509
Trade receivables	405,543	299,116	287,689
Current contract assets	1,687	2,296	2,063
Capitalised current contract costs	937	937	937
Inventories	143,132	72,148	95,441
Other current financial assets	42,327	33,177	29,598
Other current non-financial assets	21,112	11,108	15,857
Total current assets	899,721	1,071,747	1,014,094
Non-current assets
Property, plant and equipment	39,138	40,721	42,604
Intangible assets (other than goodwill)	64,623	64,491	63,514
Goodwill	121,963	113,451	113,451
Right-of-use assets	82,692	83,770	76,522
Financial assets and loans	5	5	5
Capitalised non-current contract costs	469	1,171	1,406
Deferred tax assets	7,838	5,976	7,837
Other non-current financial assets	26,573	20,295	20,230
Other non-current non-financial assets	4,450	5,017	3,766
Total non-current assets	347,751	334,897	329,335
Total assets	1,247,472	1,406,644	1,343,429

Consolidated balance sheet

LIABILITIES AND SHAREHOLDERS' EQUITY

(in T€)	30.9.2022	31.12.2021	30.9.2021
Current liabilities
Current liabilities to banks	2,546	1,997	5
Trade liabilities	306,128	316,982	267,711
Other current financial liabilities	58,394	64,646	40,939
Current employee benefit provisions	41	41	0
Current other provisions	958	2,017	1,324
Current contract liabilities	22,753	30,695	20,065
Income tax liabilities	12,952	12,660	14,862
Other current non-financial liabilities	26,358	39,084	34,312
Total current liabilities	430,130	468,122	379,218
Non-current liabilities
Non-current liabilities to banks	0	12	13
Other non-current financial liabilities	100,823	99,167	91,498
Non-current employee benefit provisions	1,536	1,552	1,858
Non-current other provisions	1,804	1,712	1,575
Non-current contract liabilities	10,602	11,838	9,123
Deferred tax liabilities	11,515	10,172	10,178
Other non-current non-financial liabilities	3	0	0
Total non-current liabilities	126,283	124,453	114,245
Shareholders' Equity
Issued capital	35,372	38,548	38,548
Capital reserves	379,934	376,846	376,493
Retained earnings including carryforwards and profit after taxes	273,706	397,789	433,470
Other reserves	1,723	535	1,190
Non-controlling interests	324	351	265
Total equity	691,059	814,069	849,966
Total liabilities and shareholders' equity	1,247,472	1,406,644	1,343,429

Consolidated Statement of Total Comprehensive Income

		Q3		9M
(in T€)	1.7.2022 - 30.9.2022	1.7.2021 - 30.9.2021 (adjusted*)	1.1.2022 - 30.9.2022	1.1.2021 - 30.9.2021 (adjusted*)
Revenues	329,552	297,657	925,074	932,755
Other operating income	4,760	1,351	11,399	6,293
Work performed by the entity and capitalised	1,769	1,513	5,798	5,241
Capitalised contract costs	-235	-234	-703	-786
Total output	335,846	300,287	941,568	943,503
Material expenses/cost of purchased services	-226,785	-197,390	-620,538	-633,316
Gross profit	109,061	102,897	321,030	310,187
Personnel expenses	-64,814	-59,547	-200,389	-191,463
Depreciation, amortisation, impairment of tangible assets, intangible assets and right-of-use assets	-14,968	-11,437	-37,235	-32,056
Impairment losses for financial assets including reversals of impairment losses	-540	-99	-830	-495
Other operating expenses	-14,794	-10,623	-39,846	-32,692
Operating profit (EBIT)	13,945	21,191	42,730	53,481
Interest and similar income	347	346	1,269	1,834
Interest and similar expenses	-786	-1,154	-2,810	-2,811
Other financial income	43	0	582	2
Other financial expenses	-52	-224	-55	-224
Foreign currency gains/losses	-10	-5	-16	20
Profit before income taxes	13,487	20,154	41,700	52,302
Income taxes	-4,035	-8,877	-12,620	-20,079
Profit after taxes from continuing operations	9,452	11,277	29,080	32,223
Profit after taxes from discontinued operations	-2,287	227,585	-1,829	228,645
Profit after taxes	7,165	238,862	27,251	260,868
of which: attributable to owners of the parent	7,108	238,834	27,278	260,923
of which: attributable to non-controlling interests	57	28	-27	-55
Weighted average shares outstanding (units) undiluted	35,371,850	38,548,001	36,074,595	38,548,001
Weighted average shares outstanding (units) diluted	35,371,850	38,548,001	36,074,595	38,548,001

Consolidated Statement of Total Comprehensive Income

	Q3		9M
(in T€)	1.7.2022 - 30.9.2022	1.7.2021 - 30.9.2021 (adjusted*)	1.1.2022 - 30.9.2022	1.1.2021 - 30.9.2021 (adjusted*)
Earnings per share from continuing operations (undiluted) in €	0.27	0.29	0.81	0.84
Earnings per share from continuing operations (diluted) in €	0.27	0.29	0.81	0.84
Earnings per share from discontinued operations (undiluted) in €	-0.06	5.90	-0.05	5.93
Earnings per share from discontinued operations (diluted) in €	-0.06	5.90	-0.05	5.93
Earnings per share for profit after taxes attributable to the owners of the parent (undiluted) in €	0.20	6.20	0.76	6.77
Earnings per share for profit after taxes attributable to the owners of the parent (diluted) in €	0.20	6.20	0.76	6.77

*) See the explanations in section A.6.3 and section A.6.4 of the CANCOM Group 2022 half-year consolidated financial statements.

Consolidated Statement of Total Comprehensive Income

		Q3		9M
(in T€)	1.7.2022 - 30.9.2022	1.7.2021 - 30.9.2021 (adjusted*)	1.1.2022 - 30.9.2022	1.1.2021 - 30.9.2021 (adjusted*)
Profit after taxes	7,165	238,862	27,251	260,868
Other comprehensive income
Items subsequently reclassified to profit after taxes (recycled)
Gains/losses from the currency translation of foreign operations	19	-3,160	223	2,375
Items not subsequently reclassified to profit after taxes (not recycled)
Gains/losses from the remeasurement of defined benefit plans	-1	0	-1	-1
Deferred taxes on items that are not reclassified to profit after taxes	0	0	0	0
Other comprehensive income for the period	18	-3,160	222	2,374
Total comprehensive income for the period	7,183	235,702	27,473	263,242
of which: attributable to owners of the parent	7,126	235,674	27,500	263,297
of which: attributable to non-controlling interests	57	28	-27	-55

*) See the explanations in section A.6.3 and section A.6.4 of the CANCOM Group 2022 half-year consolidated financial statements.

Consolidated Cash Flow Statement

(in T€)	1.1.2022 - 30.9.2022	1.1.2021 - 30.9.2021
Cash flow from operating activities
Profit after taxes	27,251	260,868
Adjustments
+ Depreciation, amortisation, impairment of tangible assets, intangible assets and right-of-use assets	37,470	42,773
+ Interest income and other financial income	1,018	1,233
+ Income taxes	12,626	23,152
+/- Changes in non-current provisions	64	-121
+/- Changes in current provisions	-1,078	290
+/- Gain/loss from disposal of non-current assets/liabilities	-255	-471
+/- Changes in inventories	-71,325	-35,046
+/- Changes in trade receivables, in contract assets, in capitalised contract costs and other assets	-120,150	26,529
+/- Changes in trade payables and other liabilities	-38,961	-110,115
- Interest paid	-1,963	-1,610
+/- Income taxes paid/received	-16,649	-17,738
+/- Other non-cash income and expenses	0	72
+/- Equity-settled share-based payment transactions	-89	1,019
+/- Profit from the sale of a discontinued operation	2,320	-239,663
Total cash flow from operating activities	-169,721	-48,828
Cash flow from investing activities
- Payments from acquisition of subsidiaries	-10,266	-14,283
+ Proceeds from cash acquired in the acquisition of subsidiaries	997	732
+ Proceeds from the disposal of a discontinued operation	403	392,906
- Cash outflow from the disposal of a discontinued operation	-1,043	-19,188
- Purchases of current financial assets	-1,010	0
- Payments for investments in tangible and intangible assets as well as right-of-use assets	-23,200	-25,584
+ Sales proceeds for tangible and intangible assets as well as for financial investments	494	4,745
+ Interest and dividends received	238	168
Total cash flows from investing activities	-33,387	339,496
Cash flow from financing activities
- Payments due to the repurchase of own shares	-117,362	0
+ Proceeds from non-current financial liabilities	0	20
- Payments for the repayment of non-current financial liabilities (including the portion presented as current)	-4	-1,759
- Payments for the repayment of lease liabilities (perspective of the lessee)	-19,630	-15,828
+/- Payments/proceeds resulting from issuing/repayment of current financial liabilities	555	-2,308
+/- Payments/proceeds resulting from financial liabilities and lease liabilities to leasing companies	7,765	2,935
- Payments for interest on non-current financial liabilities and lease liabilities	-836	-1,248
- Dividends paid	-35,372	-28,947
- Payments for the acquisition of non-controlling interests	-19	-10
Total cash flow from financing activities	-164,903	-47,145
Net increase (decrease) in cash and cash equivalents	-368,011	243,523
+/- Effect of exchange rate changes on cash and cash equivalents	29	615
+/- Cash and cash equivalents, at the beginning of the period	652,965	338,371
Cash and cash equivalents, at the end of the period	284,983	582,509
thereof
Changes in cash and cash equivalents from continuing operations	284,983	582,509
Changes in cash and cash equivalents from discontinued operations	0	0

Segment Information

(in T€)		Cloud Solutions		IT Solutions
	1.1.2022 - 30.9.2022	1.1.2021 - 30.9.2021 (adjusted*)	1.1.2022 - 30.9.2022	1.1.2021 - 30.9.2021 (adjusted*)
Revenue
Revenue from external customers	214,780	176,905	709,885	755,706
Inter-segment sales	12,889	13,331	5,977	8,380
Total income	227,669	190,236	715,862	764,086
Cost of materials/expenses for purchased services	-108,530	-86,147	-529,088	-567,513
Personnel expenses	-46,576	-42,759	-143,575	-138,253
Other income and expenses	-10,692	-5,943	-12,168	-15,589
EBITDA	61,871	55,387	31,031	42,731
Scheduled depreciation and amortization	-10,592	-9,161	-21,411	-17,307
Scheduled amortization	-2,383	-3,244	-900	-1,199
Operating result (EBIT)	48,896	42,982	8,720	24,225
Interest income	608	820	633	970
Interest expenses	-96	-59	-5,420	-3,795
Other financial result Income	214	0	135	2
Other financial result Expenses			-3
Currency gains/losses
Income before income taxes	49,622	43,743	4,065	21,402
Income taxes
Result from discontinued operations	0	3,622	-1,803	-4,652
Result for the period
thereof attributable to shareholders of the parent company
thereof attributable to non-controlling shareholders

*) See the explanations in section A.6.3 and section A.6.4 of the CANCOM Group 2022 half-year consolidated financial statements.

1.1.2021 - 30.9.2021 (adjusted*) Segment Information

*) See the explanations in section A.6.3 and section A.6.4 of the CANCOM Group 2022 half-year consolidated financial statements.

Total operating segments		Other companies		Reconciliation statement		Consolidated
1.1.2022 - 30.9.2022	1.1.2021 - 30.9.2021 (adjusted*)	1.1.2022 - 30.9.2022	1.1.2021 - 30.9.2021 (adjusted*)	1.1.2022 - 30.9.2022	1.1.2021 - 30.9.2021 (adjusted*)	1.1.2022 - 30.9.2022	1.1.2021 - 30.9.2021 (adjusted*)
924,665	932,611	409	144
18,866	21,711	580	325	-19,446	-22,036
943,531	954,322	989	469	-19,446	-22,036	925,074	932,755
-637,618	-653,660	-158	-136	17,238	20,480	-620,538	-633,316
-190,151	-181,012	-10,238	-10,451	0	0	-200,389	-191,463
-22,860	-21,532	-3,530	-2,463	2,208	1,556	-24,182	-22,439
92,902	98,118	-12,937	-12,581	0	0	79,965	85,537
-32,003	-26,468	-1,949	-870	0	0	-33,952	-27,338 -4,718
-3,283	-4,443	0	-275	0	0	-3,283
57,616	67,207	-14,886	-13,726	0	0	42,730	53,481
1,241	1,790	3,912	4,172	-3,884	-4,128	1,269	1,834
-5,516	-3,854	-1,178	-3,085	3,884	4,128	-2,810
349	2	233	0	0	0	582
-3	0	-52	-224	0	0	-55
				-16	20	-16
53,687	65,145	-11,971	-12,863	-16	20	41,700	52,302
				-12,620	-20,079	-12,620	-20,079
-1,803	-1,030	-20	232,832	-6	-3,157	-1,829	228,645
						27,251	260,868
						27,278	260,923
						-27

This is a translation of CANCOM SE's interim report. Only the German version of the report is legally binding. No warranty is made as to the accuracy of the translation and the company assumes no liability with respect thereto. The company cannot be held responsible for any misunderstandings or misinterpretation arising from this translation.

CANCOM SE

Investor Relations Erika-Mann-Straße 69 80636 München Germany Phone +49 89 54054–5511 Fax +49 8225 996–45193 ir@cancom.de www.cancom.de