Cantourage Group SE Ups Sales Guidance Amid Strong Growth

Cantourage Group SE has raised its fiscal year 2024 guidance following robust growth in Q4, with November sales reaching €7.2 million. This marks a 31% increase compared to October's figures. From January to November, sales totaled €42.9 million, an 80% rise from 2023. This surge is mainly attributed to the reclassification of medical cannabis in Germany, removing its status as a narcotic and simplifying prescription processes.

Cantourage is also witnessing increased demand in its UK treatment facility. The company anticipates Q4 sales to hit approximately €19 million, significantly up from Q1's €6.2 million. This growth is expected to improve bottom-line performance, with a projected Q4 EBITDA margin of 8.1% compared to last year's negative figure.

Moreover, Cantourage aims to generate positive free cash flows in FY24, forecasting €1.5 million, a major turnaround from the previous year's €-3.1 million. Management has revised its FY24 sales target to €46-50 million and EBITDA to €3-4 million.