News Detail - Cyan Security

cyan AG: Forecast adjustment and strategic realignment

DGAP-News: cyan AG/ Key word(s): Change in Forecast
16.08.2021 / 12:48
The issuer is solely responsible for the content of this announcement.

cyan AG: Forecast adjustment and strategic realignment

Munich, August 16, 2021 - cyan AG is in a transformation year in 2021. The strategy here - as reported at the AGM - is to focus on recurring revenues. In 2020, very high one-off revenues were generated, which will probably not be repeated in fiscal year 2021. In addition, despite the many new deals in the cyber security area, revenues are coming through more slowly than expected. The Executive Board can therefore no longer maintain the revenue and profit forecast made at the beginning of the year and currently expects revenue in fiscal year 2021 to be between EUR 10 and 14 million.

The Management Board is planning extensive restructuring measures, such as cost reductions, the sale of business units and a cash capital increase to finance the repositioning. The aim of these measures is to focus cyan AG on the high-growth area of cyber security for telecoms companies and to make a sustainably successful new start from existing customers and those in the pipeline.

Frank von Seth, CEO of cyan AG: "The realignment is a very drastic step, but one that is necessary in order to exploit the maximum growth potential. With the new customers acquired this year and the successfully implemented technical installations in our existing business, we have a good basis for a successful fiscal year 2022 and a sustainable resilient future model. Our pipeline of potential customers proves that cyber security is an important topic for mobile companies and cyan is a leading partner for it."


About cyan

cyan AG 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 more than 50 international customers, through which cyan's products are distributed to more than 60 million end customers. In the process cyan can offer a range of solutions along the entire value chain from platform, data optimization to cyber security. 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. In December 2018, cyan won a global group contract with Orange as a result of an international tender process. Besides Orange, cyan's customers include among others the world's leading insurance broker Aon 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: ir@cyansecurity.com

cyan AG Press Contact:
Better Orange IR & HV AG
Tel. +49 89 88 96 906 17
E-mail: anita.schneider@better-orange.de



16.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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