Cyber Security 1 AB: Q4 Report
CYBER1 completes 2018 with second successive highest quarterly revenue result of 21.43m EUR, with total annual revenue growth of 159% and annual organic revenue growth of 67%
- Q4 2018 revenue equated to 21.43m EUR, an 238% increase (15.1m EUR) on Q4 2017 (6.34m EUR).
- Total annual revenue growth increased by 159% (27.35m EUR), from 17.19m EUR YTD Q4 2017, to 44.54m EUR YTD Q4 2018.
- Organic revenue increased by 67.4% (11.58m EUR), from 17.19m EUR YTD Q4 2017, to 28.77m EUR YTD Q4 2018.
- Group Q4 2018 EBITDA of -292k EUR, (Q4 2017 EBITDA -93k EUR).
- Credence Security increased revenue by 62.8% from 3.99m EUR YTD Q4 2017, to 6.49m EUR YTD Q4 2018.
- Cognosec increased revenue by 83.7% (8.7m EUR), from 10.49m EUR YTD Q4 2017, to 19.2m EUR YTD Q4 2018.
- Beyond the Quarter, CYBER1 appointed a new CEO in Nick Viney, followed by an exclusive five-year partnership with Formula 1, becoming their official cyber security provider.
Performance Overview
The fourth quarter results detailed in this report, have rounded off a pivotal year in the history of CYBER1. Building on top of a strong third quarter, the company achieved Q4 revenues of 21.43m EUR. With many of the subsidiaries being traditionally back-end loaded, continued organic revenue growth has been further realised year on year at 67.4%. This is a key mission statement for CYBER1, in building long term trust with our partners, combining proven results in implementing our services and solutions. We strongly feel this client centred approach will result in longer term benefits to CYBER1, its vendors and overall customer portfolio.
Combined with our recent acquisition results in 2018, overall year on year quarterly revenue growth has yielded a 238% increase (15.1m EUR). The former Itway subsidiaries continue to add tremendous value to the CYBER1 Group, with a number of diverse vendors and unique client base, that aid in consolidating and increasing our overall market presence in Europe, a key objective for 2019. These two drivers of internal growth combined with a methodical acquisition process, have underpinned our approach to further extend and build the company. Intertwined with this is ensuring that CYBER1’s integration process allows for entrepreneurial creativity and vision, combined with strong leadership and governance throughout the Group. CYBER1 sees these three pillars of organic growth, select acquisitions and a robust governance as the key to unlocking the company’s potential growth in the future.
CEO of CYBER1 Nick Viney commented: “The Group’s strong rapport and relationships with clients have cultivated a trust and understanding of their cyber security environments. The newly acquired businesses have continued their performance and I am excited with the cross-collaborative opportunities that are already bearing return, in driving organic growth within the Group of 67% in 2018 and overall 159% annual revenue growth being a testament to the hard work and dedication of CYBER1 and our partners. Looking ahead to 2019 and as we enter into our third year as a listed company, I look forward to integrating our subsidiaries closer together, to realise new commercial opportunities whilst ensuring appropriate internal governance can be achieved with our newly acquired and existing companies.”
The report can be found on our Financial Report section of the website
Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
E-mail:
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan
Investor Relations contact, CYBER1
Email:
This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 28.02.2019 at 14:30 CET.
ABOUT CYBER1
CYBER1 is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 44.54m EUR in 2018 and employed 239 personnel at the end of Q4 2018. For further information, please visit /investors
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