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Cancom (COK) investor relations material
Cancom Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
FY.25 revenue reached €1,714.7m, a slight decrease of 1.3% year-over-year, with sequential improvements throughout the year.
Group EBITDA was €102.7m, down 9.1% from FY.24, but Q4.25 EBITDA surged 46.6% year-over-year to €38.9m.
Operating cash flow remained strong at €139.8m, and net cash position improved to €198.9m.
FY.25 guidance was achieved, and the company maintained a stable dividend of €1.00 per share.
Financial highlights
Q4.25 revenue grew 1.5% year-over-year to €487.0m, with organic growth matching headline growth.
Q4.25 EBITDA margin improved to 8.0% from 5.5% in Q4.24, aided by a sale-and-leaseback transaction and offset by restructuring costs.
FY.25 CapEx was €14.9m, representing 0.9% of sales, below the 1.0% target.
Depreciation for FY.25 was €54.7m, showing moderate development.
Earnings per share from continued operations was €0.92, down from €0.99 in FY.24.
Outlook and guidance
2026 revenue forecast is €1,750–1,850m, with EBITDA expected between €110–130m and EBITA €55–75m.
Management sees ample growth opportunities for 2026.
- 2026 growth driven by device upgrades, Windows 11 migration, and public sector recovery.COK
Investor update12 Feb 2026 - Revenue and profit fell amid weak IT demand, but a late-year recovery is anticipated.COK
Q3 202513 Nov 2025 - Revenue and profit fell in H1 2025, but H2 is expected to improve with digitalisation and AI.COK
Q2 202512 Aug 2025 - International expansion and service focus drive revenue and EBITDA growth in 2024.COK
Berenberg European Conference Presentation26 Jun 2025 - Strong H1 2024 growth, improved cash flow, confirmed outlook, and major share buyback.COK
Berenberg and Goldman Sachs German Corporate Conference Presentation26 Jun 2025 - Growth in 2024 fueled by Austrian acquisition, service focus, and robust shareholder returns.COK
KeplerCheuvreux 24th German Corporate Conference Presentation26 Jun 2025 - Growth in 2024 was led by Austria, but margins and outlook remain under pressure.COK
Deutsches Eigenkapitalforum Presentation26 Jun 2025 - Revenue up 18.4% to €1,257.9m, margins down, and €146.7m share buyback completed.COK
Q3 202413 Jun 2025 - Revenue up 29% to €835m, EBITDA €55.5m, outlook confirmed despite weak SMB demand.COK
Q2 202413 Jun 2025
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