cyan AG
ISIN: DE000A2E4SV8
WKN: A2E4SV
26 September 2024 07:30AM

EQS-News: cyan AG achieves a 56% increase in revenues in the first half of 2024 and continues its strong dynamic growth in the cybersecurity segment

cyan AG · ISIN: DE000A2E4SV8 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 1995699

EQS-News: cyan AG / Key word(s): Half Year Report/Half Year Results
cyan AG achieves a 56% increase in revenues in the first half of 2024 and continues its strong dynamic growth in the cybersecurity segment

26.09.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


cyan AG achieves a 56% increase in revenues in the first half of 2024 and continues its strong dynamic growth in the cybersecurity segment
 

  • Strong end customer growth as a key revenue driver
  • Progress in improving EBITDA
  • Entry into new markets
  • Forecast for the 2024 financial year confirmed

Munich, 26 September 2024 – cyan AG, a provider of intelligent cybersecurity solutions, published its half-year report 2024 today. The company has made significant progress in implementing its focused strategy across the cybersecurity market. Revenues increased by 56% to EUR 3.2 million (H1 2023: EUR 2.1 million). The share of recurring revenues from subscriptions amounts to 95%. The operating result (EBITDA) improved to EUR -1.1 million (H1 2023: EUR -2.0 million). In particular, the higher revenues on a constant cost base had a positive impact. The result also includes one-off effects from consulting fees for the sale of i-new.

Thomas Kicker, CEO of cyan AG: “The half-year figures confirm that we are heading in the right direction. Our strategy program, with a strict focus on our core business of cybersecurity, is really paying off. We are still in the early stages of our dynamic journey, but we are excited to see what the future holds. On an operational level, the steady growth of our end customer base is very encouraging. In addition, we have tapped into new customer segments with Orange Spain and wefox in Austria. Further customer contracts and market launches are in the pipeline. We are extremely optimistic that our increasing market penetration will also significantly improve our key financial figures.”

In the first half of 2024, cyan launched a partnership with Orange Spain to provide cybersecurity solutions for all Orange customers in both the business and private customer segments in the Spanish market. Further comparable partnerships, for example with Orange Belgium and Claro Chile, are expected to start soon, thus allowing cyan to tap into further markets and customer groups. The partnership with wefox and Allianz Partners in Austria in the strategically important insurance industry has also opened up a new market for cyan. As part of this partnership, cyan offers the first bundled cyber protection with additional cyber insurance.

cyan is therefore in an excellent position to continue its growth trajectory in the 2024 financial year. Based on an increasing number of end customers, cyan's recurring revenue is set to rise further. The company therefore anticipates an increase in consolidated revenue to between EUR 6.6 million and EUR 7.4 million. The operating result (EBITDA) at Group level, excluding special effects, is expected to improve significantly.

* The figures for 2023 have been adjusted to reflect the current corporate structure and relate only to the continued operation (cybersecurity segment).


About cyan
cyan AG (XETR: CYR) is a provider of intelligent cybersecurity solutions with more than 15 years of experience in the IT industry. The company offers IT security products for end customers of mobile and fixed network internet providers and financial service providers. cyan's solutions are integrated as white label products into the apps and system landscape of international business partners, who then offer those to private and business customers under their own brand.

In addition, cyan operates its own research and development center with the aim of identifying trends in the industry at an early stage and developing optimal product solutions. cyan's customers include among others the Orange Group, the telecom group Deutsche Telekom (Magenta/T-Mobile), Claro Chile (América Móvil Group) and dtac (Telenor Group).

More information at: www.cyansecurity.com.


cyan AG Investor Relations:
cyan AG
Phone: +49 89 71042 2073
Email: ir@cyansecurity.com

cyan AG Press contact:
Kirchhoff Consult GmbH
Phone: +49 40 60 91 86 65
Email: cyan@kirchhoff.de



26.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: cyan AG
Josephspitalstraße 15
80331 Munich
Germany
Internet: www.cyansecurity.com
ISIN: DE000A2E4SV8
WKN: A2E4SV
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1995699

 
End of News EQS News Service

1995699  26.09.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 20,01 26,75 21,29 8,48 3,80 4,72 7,20
EBITDA1,2 3,40 11,67 -5,06 -12,32 -4,36 -4,47 -0,10
EBITDA-Margin3 16,99 43,63 -23,77 -145,28 -114,74 -94,70 -1,39
EBIT1,4 0,37 5,53 -11,04 -18,06 -7,01 -7,01 -4,50
EBIT-Margin5 1,85 20,67 -51,86 -212,97 -184,47 -148,52 -62,50
Net Profit (Loss)1 -0,11 4,53 -9,27 -13,88 -14,71 -20,72 -3,10
Net-Margin6 -0,55 16,94 -43,54 -163,68 -387,11 -438,98 -43,06
Cashflow1,7 3,66 -5,83 -8,71 -9,50 -6,87 -4,01 0,00
Earnings per share8 -0,01 0,49 -0,95 -1,30 -0,99 -1,10 -0,08
Dividend per share8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: Rödl & Partner

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INVESTOR-INFORMATION
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Cyan
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
A2E4SV DE000A2E4SV8 AG 53,30 Mio € 28.03.2018 Kaufen 8FWH4HP8+HF
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
44,00 42,25 1,04 -7,33 1,79 -13,28 11,30
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,00 0,00 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
12.07.2024 - 26.09.2024 23.05.2024
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+1,54%
2,64 €
ATH 36,70 €
+3,90% +9,86% +151,43% +169,39% -88,52%

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