In 2024, Cantourage Group SE, the top listed cannabis company in Europe, celebrated an important year thanks to the cannabis industry’s explosive expansion and its creative business strategy. The company’s reported sales of EUR 51.4 million greatly above its revised expectation of EUR 46–50 million, a 118% rise over the previous year’s sales of EUR 23.6 million.
About Cantourage
Cantourage is a pioneer in the European cannabis market, having been founded in 2019 by Norman Ruchholtz, Dr. Florian Holzapfel, and Patrick Hoffmann. The Berlin-based business guarantees compliance with the strictest European pharmaceutical regulations while specializing in the production and distribution of cannabis flowers and therapeutic formulations. Its Fast Track Access technology makes it possible for producers from around the world to quickly and easily enter the European market.
Set on the Frankfurt Stock Exchange since November 2022 within the ticker symbol “HIGH,” Cantourage continues to deliver novel products across all key cannabis sectors, including dried flowers, extracts, dronabinol, and cannabidiol.
Cantourage: Outstanding results
Throughout the year, Cantourage kept a strong sales momentum, setting monthly and quarterly sales records. The company’s fourth-quarter sales reached EUR 21.2 million, the biggest in its history, and its December 2024 sales of EUR 8.5 million set a new monthly record.
The rising demand for Cantourage’s flowers, especially in Germany and the UK, was the main driver of this expansion. Significant industry increase was fueled by the expansion of access to medical cannabis following Germany’s partial legalization of cannabis in April 2024. Cantourage successfully expanded its processing capabilities to satisfy this demand while upholding its reputation for providing cannabis products of therapeutic quality.
Message from Leadership
Philip Schetter, CEO of Cantourage, highlighted the role legalization played in the company’s success:
“2024 was a transformative year for cannabis in Germany. Partial legalization brought greater access to medical cannabis and unlocked enormous economic potential for the industry. We are proud to have exceeded EUR 50 million in sales just five and a half years after our founding. This represents more than a hundredfold increase compared to the EUR 500,000 in revenues from 2020 when we launched our first product.”
Strategic Growth and Future Prospects
In terms of the future, Cantourage has set the stage for additional growth in 2025. It comes not only from the successful market entry into Poland. Cantourage also set the relaunch of its telemedicine portal, Telecan.de, with the goal of offering patients receiving cannabis therapy more comprehensive support are two important projects. Together with the company’s asset-light business model, these steps will improve efficiency and profitability while solidifying Cantourage’s position as the market leader in Europe’s booming cannabis industry.
Schetter highlighted the business’s expansion plan:
“In 2025, we will focus on improving efficiency, leveraging economies of scale, and significantly enhancing our profitability. Our asset-light model enables us to sustain growth with our own resources while expanding our reach in the European market.”