EQS-News: cyan AG publishes interim report 2022

cyan AG publishes interim report 2022

Munich, September 28, 2022 cyan AG (XETR: CYR), a leading European and global provider of intelligent cybersecurity solutions and BSS/OSS platform services for the telecommunications industry, announced the publication of its financial report for the first half of 2022. Revenues increased to EUR 4.1 million in the first half of the year compared to EUR 3.5 million in the previous year. EBITDA amounted to EUR -4.0 million (H1 2021: EUR -7.4 million).

"We were able to achieve very good progress on projects in the past months; we onboarded or launched a total of six customers. Some projects with existing and newly acquired customers continue to be implemented. At the same time, we were able to develop new features for our customers, expand our domain of deployment and thus also drive our business forward," explained Frank von Seth, CEO of cyan AG. "This is reflected in increased revenues and higher recurring revenues. At the same time, our costs remained stable at reduced levels as we expected after the Performance Improvement Program."

The increase in sales in the first half of 2022 was generated in both business segments. In the BSS/OSS segment, which is larger in terms of revenue share (63%), revenue was EUR 2.6 million compared to EUR 2.2 million in the previous year. At EUR 1.5 million (H1 2021: EUR 1.4 million), the Cybersecurity segment generated around 37% of group revenues.

After taking into account deferred tax income, consolidated net income amounted to EUR -2.7 million (H1 2021: EUR -7.8 million), resulting in undiluted earnings per share of EUR -0.19, compared with EUR -0.75 in the first half of the previous year.

The interim report 2022 (unaudited) is available for download at https://ir.cyansecurity.com/publications/.

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 cyans 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

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