cyan AG announces preliminary figures for the 2023 financial year, taking into account the discontinued BSS/OSS business in accordance with IFRS 5

Munich, April 02, 2024 – cyan AG, today announces the preliminary figures for the 2023 financial year. Due to the sale of the BSS/OSS business under the i-new brand at the end of 2023, the discontinued operation will be carved out and presented separately in the balance sheet and income statement in accordance with IFRS 5, which is why it is no longer comparable with the forecast provided. The BSS/OSS segment was still included in the forecast. The preliminary figures are therefore published taking into account the old Group structure compared to the forecast and additionally published after the carve-out in accordance with IFRS 5.

In 2023, operating revenue of EUR 8.6 million was generated under the old Group structure, which is within the forecast range of EUR 8 to 9 million. Following the carve-out of the discontinued BSS/OSS segment in accordance with IFRS 5, Group operating revenue in 2023 amounted to EUR 4.7 million, which is therefore fully attributable to the Cybersecurity segment. Group EBITDA with special effects amounted to EUR -9.7 million before the carve-out in accordance with IFRS 5 and is therefore better than forecasted (EUR -12 to -13 million). The reason for this is that changes in inventories, which were originally planned for 2023, are recognized retrospectively in 2022 in accordance with IAS 8. Excluding special effects, Group EBITDA (adj. EBITDA) before the application of IFRS 5 amounts to EUR ‑8.4 million, which is at the upper end of the forecast range of EUR -8.4 to -8.6 million. After the carve-out of the discontinued operation BSS/OSS, EBITDA amounts to EUR -4.5 million and adj. EBITDA to EUR ‑3.9 million.

Communicating person:
Thomas Kicker, CEO

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

cyan AG Press Contact:
Kirchhoff Consult GmbH
Tel. +49 40 60 91 86 65
E-Mail: cyan@kirchhoff.de