Cantourage Group SE records strong growth in revenue and EBITDA in the
break-even range in 2023. Strong growth since the partial legalisation of
cannabis came into force.

EQS-News: Cantourage Group SE / Key word(s): Annual Results/Quarter Results
Cantourage Group SE records strong growth in revenue and EBITDA in the
break-even range in 2023. Strong growth since the partial legalisation of
cannabis came into force.

15.05.2024 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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jurisdiction in which such release, publication or distribution would be
unlawful. The important notes at the end of this announcement must be
observed.

Cantourage Group SE records strong growth in revenue and EBITDA in the
break-even range in 2023. Strong growth since the partial legalisation of
cannabis came into force.

  * Revenue increased by 67% in financial year 2023 compared to the previous
    year

* Operating result (EBITDA) in the break-even range in 2023

  * Revenue in April 2024 increased by around 160% compared to the same
    month last year

  * Significant increase in the number of cannabis patients recorded due to
    partial legalisation in April 2024

* Continued strong growth expected in financial year 2024

Berlin, 15 May 2024 - Cantourage Group SE (hereinafter "Cantourage," ISIN:
DE000A3DSV01, www.cantourage.com), a leading European company for the
production and distribution of cannabis, increased its revenue by approx.
67% in financial year 2023 compared to the previous year to EUR 23.6 million
(2022: EUR 14.2 million). The operating result (EBITDA) improved by more
than EUR 2.0 million in 2023 compared to the same period of the previous
year (2022: EUR -2.5 million) and is thus in the break-even range. While
revenue growth in the first quarter of 2024 remained below expectations at
around 26% compared to the prior-year period (revenue in Q1 2024: EUR 6.2
million, revenue in Q1 2023: EUR 4.8 million) due to the uncertain legal
situation, Cantourage recorded a significant increase in demand in April
2024 and achieved revenue growth of around 160% compared to the same month
of the previous year.

The main drivers of the positive business development in 2023 were the
optimisation of purchasing and sales activities, the conclusion of various
supply agreements, the introduction of new cannabis products, the
development of new markets as well as process optimisations and efficiency
improvements in internal workflows. The further diversification of the
grower portfolio and the establishment of its own telemedicine platform
Telecan ( www.telecan.eu) also had a positive impact on Cantourage's
business.

Due to the changes resulting from the "Cannabis Act," Cantourage assumes
that significant growth in revenue can be achieved in 2024 as a whole. "We
expect the 'Cannabis Act' to provide significant impetus for medical
cannabis in 2024: cannabis is no longer a narcotic - this will lead to
considerable simplifications in dispensing by pharmacies and prescriptions
by doctors. With our telemedicine platform Telecan and our diversified
product portfolio ranging from a dronabinol solution to various cannabis
flowers, we can respond to a wide range of market developments. Our
production network of more than 60 cannabis growers worldwide enables us to
bring new products to our target markets very quickly if required,"
emphasises Philip Schetter, CEO of Cantourage.

Cantourage assumes that the public debate on the effects of cannabis will
further reduce reservations among doctors, pharmacies and patients. As a
result, a further sharp increase in prescriptions can be expected in the
months and years to come. This trend was already evident in April. In the
first month after partial legalisation, there was already a significant
increase in the number of cannabis patients. How exactly this trend will
develop and to what extent it will have a positive impact on Cantourage's
revenue and earnings development is still difficult to estimate at this
time. In principle, however, Cantourage expects to benefit greatly from the
new legal framework in 2024 as a whole.

The figures stated for 2023 relate to an unaudited pro forma consolidation
of the operating subsidiaries as if they had been acquired as of 1 January
of a given year. Adjustments may still result from audit procedures and
valuation approaches. For 2022, the figures relate to an audited pro forma
consolidation of the operating subsidiaries. For 2024, the figures relate to
an unaudited pro forma consolidation of the operating subsidiaries.

About Cantourage

Cantourage is a leading European producer and distributor of cannabis
flowers and cannabis-based medicinal preparations and drugs. The
Berlin-based company was founded in 2019 by industry pioneers Norman
Ruchholtz, Dr. Florian Holzapfel and Patrick Hoffmann. With an experienced
management team and its "Fast Track Access" platform, Cantourage enables
producers from around the world to become part of the growing European
medical cannabis market faster, easier and more cost-effectively by
processing and distributing their cannabis raw materials and extracts. In
this context, Cantourage ensures compliance with the highest European
pharmaceutical quality standards at all times. The company offers
pharmaceutical-grade products in all relevant market segments: dried flower,
extracts, dronabinol and cannabidiol. Cantourage was listed on the Frankfurt
Stock Exchange on 11 November 2022 and is listed under ticker symbol "HIGH."

Further information: www.cantourage.com

This announcement does not constitute a public offer or an advertisement for
a public offer to sell securities, in particular not within the meaning of
Regulation (EU) 2017/1129 (Prospectus Regulation).

Press contact at Cantourage:

Bernd Fischer

Phone +49 (0)30 4701 350 - 50

fischer@cantourage.com


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15.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
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   Language:       English
   Company:        Cantourage Group SE
                   Feurigstraße 54
                   10827 Berlin
                   Germany
   E-mail:         info@cantourage.com
   Internet:       https://www.cantourage.com/
   ISIN:           DE000A3DSV01
   WKN:            A3DSV0
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf,
                   Frankfurt (Scale), Munich, Stuttgart, Tradegate
                   Exchange
   EQS News ID:    1902775

End of News EQS News Service
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1902775 15.05.2024 CET/CEST