cyan AG adjusts forecast for 2023
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cyan AG / Key word(s): Change in Forecast 17-Aug-2023 / 15:24 CET/CEST cyan AG adjusts forecast for 2023
Munich, August 17, 2023 – cyan AG today adjusted its forecast for the current fiscal year. While recurring revenues, particularly in the Cybersecurity segment, are in part even developing above expectations, lower revenue realization from major projects in the BSS/OSS segment than originally forecast is assumed this year. At Group level, revenues in the range of EUR 8 million to EUR 9 million (previously: EUR 10.5 million to EUR 13.5 million) are now expected for 2023. The operating margin (EBITDA) is still expected to improve compared to the previous year. In the Cybersecurity segment, the number of end customers increased significantly over the past eight months. However, the predominantly recurring revenues are generally booked at cyan with a slight delay of 2-4 months. In the BSS/OSS segment, stronger fluctuations are generally to be expected due to the dependency on projects. Currently, the teams in this segment are working on several projects and there are more in the pipeline, but sales are not expected to reach the originally expected level with project completions and handovers this year.
Communicating person Markus Cserna, CTO
End of Inside Information Information and Explanation of the Issuer to this announcement: About cyan cyan AG (XETR: CYR) is a leading, globally active provider of intelligent cyber security solutions and platforms (BSS/OSS) for telecom companies with more than 15 years of experience in the IT industry. The company’s main business areas are IT security solutions for end customers of mobile and fixed network internet providers (MNO, ISP), mobile virtual network operators (MVNO) and financial service providers. The solutions provided by cyan are integrated as white label product into the infrastructure of the business partners, who then offer them to their end customers in a B2B2C model, under their own brand. Today the group has numerous international customers, through which cyan’s products are distributed to end customers. In the process cyan can offer a range of solutions along the entire value chain from platform, data optimization to cybersecurity. In addition, cyan operates its own research & development center with the aim of identifying industry trends at an early stage and developing optimal product solutions. Besides Orange, cyan’s customers include among others Claro Chile (América Móvil Group), dtac (Telenor Group) as well as the telecom group Magenta (T-Mobile). Further information is available at www.cyansecurity.com. cyan AG Investor Contact: cyan AG Tel. +49 89 71042 2073 E-mail: [email protected] cyan AG Press Contact: Better Orange IR & HV AG Tel. +49 89 88 96 906 17 E-mail: [email protected] 17-Aug-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | cyan AG |
| Theatinerstraße 11 | |
| 80333 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: | 1706145 |
| End of Announcement | EQS News Service |
