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CANCOM SE Erika-Mann-Straße 69 80636 München, Germany http://www.cancom.de
Contact Ms Beate Rosenfeld +49 8225 9961015
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CANCOM SE

Excellent Q3 figures above estimates; Guidance raised again; Estimates and PT up; Remains a BUY

Cancom yesterday reported excellent preliminary Q3 figures significantly beating our estimates and announced a raise in its guidance for the FY 2010

(PresseBox) (Jettingen-Scheppach, )
Sales in Q3 rose to € 140.8m. This does not only represent very strong growth over the quarter a year ago (+47%) but also a considerable sequential increase (+13%).

The y-o-y rise of 47% can be split up into external growth of c. 21% (Bürotex in Dec. 2009) and organic growth of c. 26%. The organic growth is above the long-term average (5-10% p.a.) driven by pent-up demand (c. 10-15pp) stemming from 3 years of underinvestments in IT and market share gains. According to CANCOM, pent-up demand in the IT market is strong enough to continue to propel growth above gdf ikqr-mexe ontxcta rpvobvecyu 9382I.

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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.