April 13, 2024

Kankum: Staying the course - Contributor

Kankum: Staying the course – Contributor

With final numbers for the third quarter, Kancom confirms the annual forecast it already raised in October. The IT group continues to expect very significant growth in sales, EBITDA and EBITDA. Thanks to the high margin trading business, EBITDA margin increased.

In the third quarter, the group’s sales volume increased by 5.6 percent compared to the previous year to 302.6 million euros. Operating result (EBITDA) increased disproportionately by 30.4% to €32.3 million compared to the same period in the previous year. Thus, the EBITDA margin was 10.7%.

High profitability was achieved by improving sales and margins in the services business as well as a very good margin in the sale of hardware and software. Profits for the period exploded due to the sale of business units in Great Britain and Ireland from €41.5 million in the previous year to €260.9 million.

CEO Rudolf Hütter is positive and confirms the rapidly growing trend towards digitization. Kancom has also recently been significantly affected by hardware product delivery bottlenecks. “We were in a very good negotiating position when it came to pricing the merchandise in place in the last quarter,” Hutter explained.

With its strong quarterly numbers, Kankum gives hope for a new yearly high. Investors can count on prices that will continue to rise.

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