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PRESS RELEASE: cyan accelerates growth strategy

| Quelle: Dow Jones Newsw... | Lesedauer etwa 5 min. | Text vorlesen Stop Pause Fortsetzen

DGAP-News: cyan AG / Key word(s): Expansion
cyan accelerates growth strategy

2019-08-20 / 08:47
The issuer is solely responsible for the content of this announcement.

*cyan accelerates growth strategy*

? *Increased investments in organizational development and customer
acquisition *

? *Sales forecast 2019 confirmed, EBITDA adjustment in line with higher
investments *

? *Extension of the voluntary hard lock-up period for core shareholders *

*Munich, August 20, 2019* - cyan AG has accelerated its investment program
and started to align the organization to rapid future growth. In the course
of this, cyan has already increased its investments in personnel recruitment
in the areas of sales, marketing and IT development in the current fiscal

At the beginning of July, the company raised EUR 25 million in the course of
the successful capital increase, of which about 30-35% is to be invested in
the further development of the organization, 15-20% in research &
development ("R&D") and about 45-55% in accelerated customer growth.

Most of the planned investments in customer growth ("market investments")
and R&D will take place in 2020. Management is deliberately accepting lower
EBITDA margins in 2019 and 2020 for this accelerated growth course, which
should have a significant positive impact on sales and earnings from 2021

*cyan sets medium-term targets*

For 2019, the management confirms the sales target of EUR 35 million. As a
result of the increased investments in the company's expansion, cyan for
2019 now expects an EBITDA of EUR 14 million instead of the EUR 20 million
previously announced. This corresponds to an EBITDA margin of 40%.

Management expects sales to grow to at least EUR 75 million by 2021
(previously communicated: EUR 60 million) and to stay on this growth
trajectory for the years to come, with a target EBITDA margin of approx.
50%, as sales should develop significantly faster than costs from 2021
onwards at the latest due to economies of scale.

*Uplisting to Prime Standard*

For 2020 cyan confirms its plans to uplist its shares from the stock market
segment "Scale" to the most regulated segment "Prime Standard" of Frankfurt
Stock Exchange. In this context, cyan has already switched to IFRS reporting
since the 2018 fiscal year.

*Core shareholders support growth strategy*

The core shareholders Alexander Schuetz, Apeiron Investment Group and
Tansanit support the accelerated growth strategy and have converted their
existing lock-up agreement with Berenberg, which had a term of 6 months with
market exceptions, into a 12-month hard lock-up (i.e. without the
possibility of early unblocking). The only remaining exception is the entry
of a strategic investor with more than 25% or a complete takeover.

Peter Arnoth: "The successful capital increase, excellent security
solutions, a debt-free balance sheet and comfortable liquidity as well as
existing, very satisfied customers such as Orange, Magenta Telekom (T-Mobile
Austria) and T-Mobile Poland are the perfect foundation for pushing growth
massively forward and winning global market shares."

*About cyan*

cyan (XETR:CYR) is a leading global provider of intelligent, white labeled
IT security solutions and telecom services with more than 15 years of
experience in the area of IT security. The main business areas of the
company are cyber security solutions for the end customers of mobile network
operators and fixed line internet service providers (MNO), mobile virtual
network operators (MVNO) as well as for the banking sector and insurance
companies. cyan's solutions are integrated into the business partner's
infrastructure and then offered under its own name ("white labeled") to its
end customers ("B2B2C").

Today, the group has more than 50 international customers, through whom
cyan's products are sold to around 8 million end customers. cyan offers a
service along the entire value chain, from the platform to data optimization
and cyber security. The company also operates its own research & development
center with the goal of recognizing trends in the industry at an early stage
and to create the best possible product solutions. In December 2018 cyan has
concluded a global group contract with Orange for its cyber-security
solutions. Cooperation partners include Aon, the world's leading insurance
broker, and the payment service provider Wirecard.

Further information is available at www.cyansecurity.com [1]

*Investor Contact*

Florian Rukover, Head of IR
cyan AG

*Press Contact*

Frank Ostermair
Better Orange IR & HV AG

2019-08-20 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
Friedrich-Herschel-Strasse 5
80679 Munich
Internet: www.cyansecurity.com
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt
(Scale), Stuttgart, Tradegate Exchange
EQS News ID: 859957

End of News DGAP News Service

859957 2019-08-20

1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=9f38f8d25320c903464d27088070c445&application_id=859957&site_id=vwd&application_name=news

(END) Dow Jones Newswires

August 20, 2019 02:47 ET ( 06:47 GMT)

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