cyan AG today announced its preliminary 2023 figures and achieved 41% growth
in recurring revenue in its core business Cybersecurity

EQS-News: cyan AG / Key word(s): Preliminary Results
cyan AG today announced its preliminary 2023 figures and achieved 41% growth
in recurring revenue in its core business Cybersecurity

02.04.2024 / 18:24 CET/CEST
The issuer is solely responsible for the content of this announcement.

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cyan AG today announced its preliminary 2023 figures and achieved 41% growth
in recurring revenue in its core business Cybersecurity

Munich, April 02, 2024 - cyan AG, a provider of intelligent cybersecurity
solutions, today announced its preliminary figures for the 2023 financial
year. Due to the sale of the BSS/OSS segment at the end of 2023, the segment
will be carved out of the balance sheet and income statement as a
discontinued operation in accordance with IFRS 5 and presented separately.
The preliminary figures were therefore published taking into account the old
Group structure compared to the forecast and additionally published after
the carve-out in accordance with IFRS 5.

Including the BSS/OSS segment, operating revenue of EUR 8.6 million was
achieved, which is within the forecast range of EUR 8 to 9 million.
Following the carve-out of the discontinued BSS/OSS segment, operating
revenue in 2023 amounted to EUR 4.7 million, which is thus fully
attributable to the Cybersecurity segment. Recurring revenues increased by
41% compared to 2022 and reached EUR 4.4 million (2022: EUR 3.1 million). In
the operating business, cyan expanded its cooperation with MTEL in the
reporting year to include network-integrated cybersecurity solutions in
Germany and Switzerland, following on from Austria. In addition, an update
of the cybersecurity products was carried out together with T-Mobile Poland,
which led to a significant increase in subscribers. In addition, the
development of existing customers remained solid and positive. Overall, the
subscriber base increased by 71% in 2023 as a result.

Thomas Kicker, CEO of cyan AG: 'The preliminary figures for the 2023
financial year confirm that the sale of the BSS/OSS segment was the right
step. We can now fully focus on the growth area of cybersecurity. This has
also enabled us to reduce our cost base by 60% and remove complexity from
the Group. This significantly increases our ability to plan, as we can rely
primarily on recurring revenues in the cybersecurity sector. We were able to
continuously increase recurring revenues every month in 2023. This also
gives us a good starting point for the new financial year. In addition, we
have already announced our collaboration with Orange Spain, another major
customer from the Orange Group, in the current year. The focus this year is
on concluding further customer contracts and on project launches through
contracts that have already been signed. In this way, we aim to further
strengthen our market position and move into new business areas outside the
telecommunications sector.'

About cyan
cyan AG (XETR: CYR) is a provider of intelligent cybersecurity solutions
with nearly 20 years of experience in the IT industry. The company offers IT
security products for end customers of mobile and fixed network internet
providers, mobile network providers and financial service providers. cyan's
solutions are integrated as white label products into the infrastructure of
business partners, who then offer those to their end customers in a B2B2C
model under their own brand.

In addition, cyan operates its own research and development center with the
aim of identifying trends in the industry at an early stage and developing
optimal product solutions. cyan's customers include among others Orange, the
telecom group Magenta (Deutsche Telekom/T-Mobile), Claro Chile (América
Móvil Group) and dtac (Telenor Group).

More information at: www.cyansecurity.com.

cyan AG Investor Relations:
cyan AG
Tel. +49 89 71042 2073
E-Mail: ir@cyansecurity.com

cyan AG Press Contact:
Kirchhoff Consult GmbH
Tel. +49 40 60 91 86 65
E-Mail: cyan@kirchhoff.de


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02.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        cyan AG
                   Josephspitalstraße 15
                   80331 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:    1871767

End of News EQS News Service
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1871767 02.04.2024 CET/CEST