MUNICH (dpa-AFX) - In the third quarter, IT service provider Cancom was boosted in particular by its latest acquisition. Sales climbed by 26.2 percent year-on-year to 415.8 million euros, as the company announced in Munich on Thursday. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by a good fifth to 35 million euros. The bottom line was a profit for shareholders of just under 10.4 million euros. In the same period last year, the IT service provider reported 7.1 million euros.

"The course of business in the third quarter confirms that we are right with our current outlook and that the acquisition of K-Businesscom will strengthen the Cancom Group in the long term," said CEO Rüdiger Rath in a statement.

In the summer quarter, the management had cut its annual targets due to weaker demand, which it had only raised at the end of May following the acquisition of the Austrian company KBC. In 2023, turnover is expected to be between 1.52 and 1.58 billion euros. For earnings before interest, taxes, depreciation and amortization (EBITDA), the Group management expects an operating result of 116 to 126 million euros./mne/stk