cyan AG: Commerzbank starts coverage on cyan AG with a ‘Buy’ recommendation and share price target 43 Euro

Commerzbank starts coverage on cyan AG with a “Buy” recommendation and share price target 43 Euro

Munich / 1 February 2019. Commerzbank Research published its first analysis of cyan AG and recommends “Buy” with a share price target of 43 euros. Commerzbank Research plans to produce ongoing research reports on cyan AG in the future.

In its research on cyan AG, Commerzbank anticipates strong growth with a revenue CAGR 2018-2021E of 49% and EBITDA growth of 75%, in particular due to the high scalability of the business model. The recently concluded contract with Orange will also contribute massively to the company’s strong growth. Should cyan manage to sign additional large-scale contracts and/or to achieve higher EBIT margins, additional share price potential is seen. Commerzbank sees the basis for cyan’s success in its market position as the only network-integrated provider of IT and cyber-security solutions for mobile end devices such as smartphones and tablets.

About cyan:
cyan is a leading European provider of intelligent, white labeled IT security solutions with more than 15 years of experience in the area of IT security. cyan’s holding company is based in Munich, Germany. The main business areas of the company are mobile security solutions for the end customers of mobile network operators and fixed line internet service providers (MNO, ISP), mobile virtual network operators (MVNO), the insurance and financial services sector and government institutions. cyan’s solutions can easily be integrated into the existing infrastructure of business partners and introduced to the market via a revenue share model. In addition, data protection is assured through full integration into the customer’s own network environment. In December 2018 cyan has concluded a global group contract with Orange/France Telecom for its cyber- security solutions.

cyan operates its own research and development center and maintains close links to universities, international research institutes, security, financial and social organizations. This close collaboration ensures the early recognition of trends and technical developments for integration into cyan’s products.

Further information is available at www.cyansecurity.com

Investor Contact
Florian Rukover, Head of IR
cyan AG
[email protected]

Press Contact
Frank Ostermair
Better Orange IR & HV AG
Tel. +49 89 88 96 906 14
[email protected]