News Detail - Cyan Security

cyan AG publishes half-year report 2021 and confirms preliminary figures

DGAP-News: cyan AG/ Key word(s): Half Year Report
30.09.2021 / 18:00
The issuer is solely responsible for the content of this announcement.

cyan AG publishes half-year report 2021 and confirms preliminary figures

Munich, September 30, 2021 - cyan AG today published its half-year report 2021, confirming the preliminary figures for the first six months. The company generated revenues of EUR 3.5 million (H1 2020: EUR 16.9 million). Total earnings were EUR 4.6 million in the first half of the year (H1 2020: EUR 19.2 million). The company generated EBITDA of EUR -7.4 million in the first half of the year, compared to EUR 2.2 million in the previous year. The net income for the period was EUR -7.8 million, compared to EUR 0.7 million in the previous year. This results in undiluted earnings per share of EUR -0.75 in the first half of this year.

Michael Sieghart, CFO of cyan AG: "As already published on August 24, the development in the first half year was not as planned at the beginning of the year for various reasons. Despite the many new deals in the cybersecurity area, revenues were slower to materialize than expected. We are in a transformation year with cyan, where we have focused on generating recurring revenue to reduce our dependency on one-time project revenue. To implement this adjusted strategy, we have now launched an extensive cost-saving program and successfully executed a capital increase, which provides us with the necessary financial flexibility to leverage the potential from the cybersecurity business as part of a fresh start."

In the past first half of 2021, the official launch with Orange in France was carried out in the Cybersecurity segment. Orange is testing the sales strategy in the B2B segment (Orange Pro) region by region and continuously optimizing it. Important insights are being gathered for the launch in B2C, but also for further expansion in other countries. Another important product launched in the first six months is the fixed-line solution "Internetschutz Home", which complements the existing Internet and parental control offering at Magenta (T-Mobile) in Austria. Claro Chile, a company of the América Móvil Group, and other telecom partners have already been acquired for cyan's cybersecurity products in the course of the second half of the year to date. Furthermore, in addition to MTEL and Grameenphone, several other contracts were signed in the BSS/OSS segment this year.

The unaudited key figures for the first six months of the financial year 2021 are as follows:

Earnings figures (in EUR million)H1 2021H1 2020
   
   
   
   
Revenues3.516.9
Total earnings4.619.2
EBITDA- 7.42.2
EBIT- 10.2- 0.8
Net income- 7.80.6
Earnings per share (undiluted, in EUR)- 0.750.06
   
   
   
   
 
Segment Figures (in EUR million)H1 2021H1 2020
   
   
   
   
Revenue BSS/OSS2.215.4
EBITDA BSS/OSS- 2.59.7
Revenue Cybersecurity1.41.6
EBITDA Cybersecurity- 3.9- 7.1
   
   
   
   
 
Cash Flow Figures (in EUR million)H1 2021H1 2020
   
   
   
   
Operating cash flow- 5.0- 4.4
Investment cash flow0.0- 0.5
Financing cash flow5.1- 0.4
   
   
   
   
 
Balance Sheet Figures (in EUR million)30/06/202131/12/2020
   
   
   
   
Total assets92.396.3
Equity66.672.7
Net debt incl. IFRS 1610.87.3
   
   
   
   
 

Note: The half-year report is available for download at https://ir.cyansecurity.com/publications/.

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 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 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 inter-national tender process. Besides Orange, cyan's customers include among others Claro Chile (América Móvil Group) as well as the telecom group Magenta (T-Mobile).

Further information is available at www.cyansecurity.com.

cyan AG Investor Relations:

cyan AG
Tel. +49 89 71042 2073
E-Mail: ir@cyansecurity.com

cyan AG Media and Press:

Better Orange IR & HV AG
Tel. +49 89 88 96 906 17
E-Mail: vera.mueller@better-orange.de



30.09.2021 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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