CYBER1 achieves a 267.7% year on year increase in revenue for H1 2019, of which 121% deriving from organic growth. Revenue results of 13.5m EUR for Q2 and 33.13m EUR for H1 2019.
London United Kingdom – 12 August 2019, Cyber Security 1 AB (publ) (“CYBER1”), (Nasdaq:CYB1, OTCQX:CYBNY), a leading supplier of cyber security solutions with operations in Europe, Africa and the Middle East, announces today publishes its First Half Report for 2019.
- Total revenue growth increased by 267.7%, from 9.01m EUR H1 2018, to 33.13m EUR H1 2019
- Organic revenue (excluding 2018 acquisitions) increased by 121%, from 9.01m EUR H1 2018, to 19.91m EUR H1 2019.
- Group Gross Margin increased 86.8%, from 3.71m EUR H1 2018, to 6.93m EUR in H1 2019.
- Group Gross Margin for H1 2019 was 21% (Q1 2018 Gross Margin: 41%), underpinned by the integration of the Itway Turkey and Greece acquisitions in the Product space, CYBER1 continues to harness cross collaboration opportunities in those businesses.
- Group H1 2019 loss of EBITDA -763k EUR, (H1 2018 EBITDA -1.9m EUR). Based on continued harmonisation of operations and leveraging greater economies of scale, whilst maintaining a steady headcount increase.
- Credence Security Middle East and India increased revenue by 179%, from 2.11m EUR H1 2018, to 5.86m EUR H1 2019.
- Cognosec SA increased annual revenue by 131%, (6.25m EUR) from 4.75m EUR H1 2018, to 11.0m EUR H1 2019.
Nick Viney, Group CEO of CYBER1 commented on the First Half results for 2019:
“The results for Q2/H1, build on the foundations of a strong start for 2019. Our aim to realise 2019 as the best ever year for the company is achievable, both in terms of financial performance and greater alignment with our governance and structures. In doing so, this approach will ensure long-term shareholder value, with the fundamentals of a prosperous company in place to build and thrive into the future.”
The report can be found on our Financial Report section of the website here
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan
Investor Relations contact, CYBER1
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 12.08.2019 at 16:20 CET.
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 (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 43.95m EUR in 2018 and employed 239 personnel at the end of Q1 2019. For further information, please visit www.cyber1.com/investors
For further information, please visit: https://cyber1.com