CANCOM doubles EBITDA up to 4.8 million Euros in Q1

(PresseBox) ( Jettingen-Scheppach, )
CANCOM IT Systeme AG has today published its preliminary figures for the first quarter of 2011. The IT service provider shows a further year-on-year jump in sales revenues and profits and so realizes the best first quarter in the company's history.

The provisional figures for the first quarter of 2011 show that the CANCOM Group increased its consolidated revenue by 23.4 percent to EUR 141.4 million, as compared with EUR 114.6 million in Q1/2010. So the organic growth amounted 22.3 percent in the first quarter of 2011.

The provisional figure for the consolidated EBITDA has doubled from the adjusted previous year's figure of EUR 2.4 million in Q1/2010 to EUR 4.8 million in Q1/2011.

The adjusted provisional figure for the consolidated EBIT was up 111.1 percent to EUR 3.8 million in the first three months of 2011 as compared to EUR 1.8 million in the first quarter of 2010.

CANCOM considers adjusted EBITDA and adjusted EBIT to be more suitable indicators of operating performance. It is intended to give readers a clearer picture of the results of operations and ensures greater comparability of data over time.

Without the adjustment (less purchase price effects related to the acquisition of Bürotex/SCC plus depreciation on intangible assets from purchase price allocation) the provisional figure for the consolidated EBITDA in Q1/2011 amounted unchanged EUR 4.8 million compared with EUR 3.1 million in the same period of the previous year, and the provisional figure for the consolidated EBIT amounted EUR 3.1 million as compared with EUR 2.2 million in Q1/2010.

The report for the first three months of 2011 with the definite figures for the first quarter will be published on 12 May 2011 and will then be available at www.cancom.de.
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