Cancom drops in early trade after outlook cut

Cancom SE

01/08/2025 07:20

** Shares in Cancom COKG.DE fall 8.7% in early Frankfurt trade after the German IT infrastructure and service provider cut its FY guidance, due to continuing market uncertainties

** Cancom now expects FY EBITDA of between 100 million euros to 110 million euros ($114 million-$126 million), down from its previous forecast of 115 million to 130 million euros

** Its FY revenue is now expected to come in between 1.6 billion euros to 1.7 billion euros, compared with 1.7 billion to 1.8 billion euros previously targeted

** "Investors may not have had a warning in the cards, as they have hoped Cancom to profit from German state infrastructure program," a local trader says

** The stock, which has gained 10.8% YTD, is among the worst performers of Germany's small-cap index .SDAXI

($1 = 0.8747 euros)

(Reporting by Ozan Ergenay)

((ozan.ergenay@thomsonreuters.com))