cyan AG: Forecast for fiscal 2021 revised due to Covid-19
cyan AG / Key word(s): Change in Forecast
Munich, June 18, 2020 - After an intensive review of the previous revenue planning in the last weeks, the board of cyan AG reacts to the negative effects of the Covid-19 crisis and revises the issued revenue forecast of EUR 75 million for the business year 2021. From today's perspective, global restrictions, faltering contract negotiations and postponed market launches on the client side will lead to a delay of six to twelve months in the realisation of the original planning.
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 products are sold to approximately 8 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 and the payment service provider Wirecard.
Further information is available at www.cyansecurity.com.
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|EQS News ID:||1072895|
|End of Announcement||DGAP News Service|