DGAP-Adhoc: CANCOM SE: CANCOM divests business activities in the UK and Ireland and achieves book gain of around EUR 225 million

2021. július 29., csütörtök, 00:31

DGAP-Ad-hoc: CANCOM SE / Key word(s): Mergers & Acquisitions/Disposal

CANCOM SE: CANCOM divests business activities in the UK and Ireland and achieves book gain of around EUR 225 million

29-Jul-2021 / 00:31 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

CANCOM SE: CANCOM divests business activities in the UK and Ireland and achieves book gain of around EUR 225 million

Munich, Germany, 28 July 2021 - The Executive Board of CANCOM SE today signed a definitive agreement regarding the sale of the subsidiary CANCOM Ltd. to Telefónica TECH. The transaction follows a strategic review announced on 25 May 2021. As a result, CANCOM is divesting its entire business activities in the United Kingdom and Ireland. The transaction values CANCOM Ltd. at an Enterprise Value of close to EUR 400 million, which corresponds to a transaction multiple of 15.8x (Enterprise Value/EBITDA 2020A). CANCOM will realise a book gain of around EUR 225 million through the transaction, which will be included in CANCOM Group"s net profit for 2021. Upon completion of the transaction, CANCOM SE will receive cash proceeds of around EUR 390 million.

The Executive Board of CANCOM SE expects the transaction to be completed within the third quarter of this year. CANCOM intends to reinvest the proceeds predominantly in the acquisition of companies in its core regions Germany, Austria and Switzerland.

As a result of the transaction, CANCOM Ltd. will be reclassified as discontinued operations in CANCOM Group"s financial reporting. Accordingly, the earnings figures are adjusted for the earnings contributions of CANCOM Ltd. for the current year and the financial year 2020. Based on the new adjusted comparative figures for 2020, the Executive Board of CANCOM SE confirms the forecast for CANCOM Group published in the 2020 annual report.

Notifying company:

CANCOM SE, Erika-Mann-Strasse 69, 80636 Munich, Germany

ISIN DE0005419105, Frankfurt Stock Exchange (MDAX, TecDAX, Prime Standard)

Contact / Notifying person:

Sebastian Bucher, Manager Investor Relations

+49 (0)89 540545193


Note on alternative performance measures (APM):

Enterprise Value (EV): Value of the company. Corresponds (simplified) to the sum of the market value of equity and net financial liabilities.

EBITDA and EBITA: for definition see CANCOM SE Annual Report 2020 page 16.


Information and Explanation of the Issuer to this News:


As a Digital Transformation Partner, CANCOM accompanies organizations into the digital future. CANCOM supports customers to simplify complex enterprise IT and increase their business success through the implementation of modern technology. In order to comprehensively meet the IT needs of companies, organizations, and the public sector, CANCOM delivers tailor-made IT end to end from a single source.

The CANCOM Group"s range of IT solutions includes consulting, implementation, services, and the management of IT systems. Customers benefit from the extensive expertise as well as a holistic and innovative portfolio that covers the IT requirements that are necessary for a successful digital transformation. As a hybrid IT integrator and service provider, the Company provides an integrated range of services and solutions including business solutions and managed services, such as cloud computing, analytics, enterprise mobility, IT security, hosting, and as-a-service offerings.

With more than 4,000 employees worldwide, the internationally active CANCOM Group and its efficient partner network ensure market presence and customer proximity in Germany, Austria, Switzerland, Belgium and the USA. The CANCOM Group is led by Rudolf Hotter (CEO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM has an annual revenue of around EUR 1.3 billion and its parent company, CANCOM SE, is listed in the MDAX and TecDAX of the Frankfurt Stock Exchange (ISIN DE0005419105).

29-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: CANCOM SE

Erika-Mann-Straße 69

80636 Munich

Phone: +49-(0)89/54054-0
Fax: +49-(0)89/54054-5119
E-mail: info@cancom.de
Internet: http://www.cancom.de
ISIN: DE0005419105
WKN: 541910
Indices: MDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1222455

End of Announcement DGAP News Service

1222455  29-Jul-2021 CET/CEST

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