CYBER1 records most successful Q4 results, with revenues of 24.2m EUR and €943k EUR EBITDA profit for the quarter London United Kingdom – 20 February 2020,Cyber Security 1 AB (publ) (“CYBER1”), (Nasdaq:CYB1,OTCQX:CYBNY), is pleased to ...
CYBER1 records most successful Q4 results, with revenues of 24.2m EUR and €943k EUR EBITDA profit for the quarter
London United Kingdom – 20 February 2020, Cyber Security 1 AB (publ) (“CYBER1”), (Nasdaq:CYB1,OTCQX:CYBNY), is pleased to publish its Q4 Report.
- Q4 2019 revenue of 24.2m EUR, compared to 20.8m EUR in Q4 2018.
- Total year to date revenue growth increased year over year by 56.38%, from 43.95m EUR by Q4 YTD 2018, to 68.73m EUR by Q4 2019.
- Group Gross Margin equated to 4.09m EUR for Q4 2019, with Q4 2018 Gross Margin recorded as 3.89m EUR.
- Group Gross Margin for Q4 2019 was 17% (Q4 2018 Gross Margin: 19%).
- Group Q4 2019 EBITDA of 943k EUR, (Q4 2018 EBITDA loss -294k EUR).
As the company concludes 2019, CYBER1 has taken a significant step forward in realising the future growth opportunities for the company. During traditionally the strongest quarter of the year for the company, CYBER1 recorded its highest EBITDA of any quarter since its listing on Nasdaq First North Growth Market in 2016. This achievement has originated from the success of our subsidiaries and their proven ability to deliver successful cyber security solutions and services to their customers. Harmonisation of our internal operations will continue to be a focus moving into 2020, to complement this commercial growth. Overall, the company has reduced its year over year full year loss by 1.386m EUR. This trajectory will set us well for profitability in 2020, with a drive for methodical growth whilst continuing to consolidate the business units, to ensure that the company is lean and efficient whilst ensuring our listing, legal and infrastructure obligations are fulfilled.
Commenting on the Q4 Report, newly elected Chairman of CYBER1 Johan Bolsenbroek stated:
“CYBER1 has been able to achieve its greatest ever Q4 results, a considerable achievement considering increased competition in the market and the pressures around closing business for 2019. Our results show that we achieved 24.2m EUR for the quarter, a 16.4% increase over the same quarter in 2018. Combining previous results from earlier in the year brings our total revenue for 2019 to 68.73m EUR. This achievement is further highlighted with our full year to date organic business growth equating to 27% (11.9m EUR), demonstrating the importance of the collaborative potential we are developing within our subsidiaries and regions. The most important figure to highlight is the EBITDA of 943k EUR, the highest in the company’s history for any quarter as a listed company. This result demonstrates our push for profitability and this will be a clear focus point for 2020, as we continue to harmonise our collective operations whilst leveraging our economies of scale into the future.”
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 20.02.2020 at 17:15 CET.
Mangold Fondkommission AB is the Company’s Certified Adviser.
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CYBER1 is engaged in providing cyber resilience solutions and conducts its operations through physical presences in UK, Greece, Sweden, Kenya, South Africa, Turkey, United Arab Emirates and the United States. Listed on Nasdaq First North Growth Market (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 revenue of 68.73m EUR in 2019. For further information, please visit www.cyber1.com/investors.
For further information please visit: www.cyber1.com
For all company filings and reports, please visit: https://cyber1.com/cyber1-investor-information/
Source(s) : Cyber Security 1 AB
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