PRESS RELEASE : cyan AG increases sales for the first nine months thanks to new cooperations

 
 DGAP-News: cyan AG / Key word(s): Quarterly / Interim Statement 
cyan AG increases sales for the first nine months thanks to new cooperations 
 
2020-12-17 / 08:00 
The issuer is solely responsible for the content of this announcement. 
 
*cyan AG increases sales for the first nine months thanks to new 
cooperations* 
 
- *Total consolidated revenues of EUR 21.5 million after EUR 11.9 million in 
the previous year* 
 
*- EBITDA of EUR-2.7 million after EUR -2.3 million in the previous year due 
to one-off effects from value adjustments on Wirecard receivables * 
 
*- Further successes achieved with cooperations* 
 
*Munich, December 17, 2020 *- cyan AG today published its quarterly 
statement for the period January 1 to September 30, 2020. Total revenues in 
the first three quarters increased from EUR 11.9 million in the previous 
year to EUR 21.5 million.[1] Total revenues consisted of EUR 18.4 million in 
revenues, EUR 0.7 million in other operating income, EUR 0.6 million in 
income from reversals of impairment losses and EUR 1.7 million in changes in 
inventories. As a result, revenues increased by around 72% from EUR 10.7 
million to EUR 18.4 million when comparing the 9-month periods of 2020 to 
2019.Total revenues amounted to EUR 2.2 million in the third quarter, 
compared to EUR 4.0 million in the previous year. 
 
The majority of revenues came from the BSS/OSS segment, with the license 
agreement with Virgin Mobile, which was signed in the second quarter of 
2020, contributing to this in particular. The agreement covers Mexico, 
Colombia and Chile and has a term of five years. Parts of this license 
revenue were already recognized from the second quarter of 2020. The 
Cybersecurity segment, on the other hand, was negatively impacted by a value 
adjustment of EUR 4.5 million in connection with the Wirecard insolvency and 
stood at EUR 2.7 million for the nine-month period, compared to EUR -2.3 
million in the same period of the previous year. 
 
Michael Sieghart, CFO of cyan AG: "The COVID 19 crisis seems to be far from 
over and has also had a significant impact on our company. Due to the often 
tense budgetary situation, we are increasingly experiencing delays in 
decision-making regarding new projects." 
 
Despite the COVID-19 pandemic, some important operational milestones were 
achieved in the first three quarters. At MobiFone Vietnam, the installation 
of the Childprotection app for both Android and iOS was completed. In 
addition, the Aon CySec app entered the marketing phase. Here, the joint 
solution with Aon will initially be distributed in Austria and Switzerland, 
then throughout Europe. In addition, cyan is currently talking intensively 
with a number of insurance companies through Aon. Significant progress has 
also been made with Orange, the most important cooperation partner. After 
the software solution was handed over to Orange France at the beginning of 
the year, the technical test phase has now been completed. In addition, 
detailed discussions and negotiations are being held with other Orange 
national companies and are in some cases at an advanced stage. In the 
current fourth quarter, cooperation agreements were concluded with Secure64, 
a US market leader in the segment of DNS-based network solutions, and with 
SMARTEL, an operator of MVNO companies in Central Europe. 
 
Frank von Seth, designated CEO of cyan AG: "The past year was challenging in 
many respects. But especially in the last remaining months we were able to 
take important steps which, if they go well, will have a positive impact 
this year or in Q1 2021 at the latest. Entrepreneurially, we are now well 
positioned and look forward to 2021 with great confidence." 
 
Note: The quarterly statement is available for download at 
https://ir.cyansecurity.com/publikationen/finanzberichte [1] 
 
*About cyan* 
cyan AG (XETR: CYR) is a leading, globally active provider of intelligent IT 
security solutions and telecom services with more than 15 years of 
experience in the IT industry. The main business areas of the company are 
cybersecurity solutions for end customers of mobile and fixed network 
internet service providers (MNO), virtual mobile network operators (MVNO) as 
well as banks and insurance companies. cyan's solutions are integrated into 
the business partner's infrastructure and then offered to their end 
customers ("B2B2C") under their name ("white-labeled"). 
 
Today, the group of companies has more than 50 international customers, 
through which cyan prod-ucts are sold to approximately 50 million end 
customers. cyan can offer products along the entire value chain from 
platform, data optimization to cyber security. In addition, cyan operates 
its own Research & Development Centre with the aim of identifying trends in 
the industry at an early stage and developing optimal product solutions. In 
December 2018, cyan was able to win a global group contract with Orange in 
an international tendering process. cyan's cooperation partners include the 
world's leading insurance broker Aon or Magenta Telekom. 
 
Further information is available at www.cyansecurity.com 
 
Investor Contact: 
cyan AG 
Tel. [phone] 
E-mail: [e-mail] 
 
Press Contact: 
Better Orange IR & HV AG 
Tel. [phone] 
E-mail: [e-mail] 
 
[1] Comparability with previous year is only limited, as some IFRS standards 
were applied differently 
 
2020-12-17 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. 
 
The DGAP Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language:    English 
Company:     cyan AG 
             Theatinerstraße 11 
             80333 Munich 
             Germany 
Internet:    www.cyansecurity.com 
ISIN:        DE000A2E4SV8 
WKN:         A2E4SV 
Listed:      Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt 
             (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange 
EQS News ID: 1155877 
 
End of News DGAP News Service 
 
1155877 2020-12-17 
 
 
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(END) Dow Jones Newswires

December 17, 2020 02:00 ET (07:00 GMT)