CYBER 1 records €45.53m in year to date revenue, surpassing 2018 annual revenue figure with largest quarter still to close
On 31 October 2019, Cyber Security 1 AB (publ) (“CYBER1”), (Nasdaq:CYB1, OTCQX:CYBNY), a leading supplier of cybersecurity solutions with operations in Europe, Africa and the Middle East, announces today its Third Quarter Report for 2019.
- Q3 2019 year to date revenues were 92.7% higher than Q3 year to date revenues in 2018, at 44.53m EUR vs. 23.11m EUR.
- Q3 2019 revenue of 11.4m EUR, compared to 14.04m EUR closed in Q3 2018. Q3 2018 revenue included a three-year deal recorded for that period.
- Credence Security Middle East & India increased revenue by 20.64%, from 2.18m EUR in Q3 2018, to 2.63m EUR in Q3 2019.
- Cognosec Kenya increased revenue by 12% (41k EUR), from 342k EUR in Q3 2018, to 383k EUR closed in Q3 2019.
- Group Q3 2019 EBITDA of -688k EUR, compared to 566k EUR in Q3 of 2018. The CYBER 1 Group continues to look at the commercial collaboration between clients and vendors, to ensure the best possible margins are met by engaging with our newly acquired clients in 2019 for further partnerships and solution delivery.
- CYBER 1 announced a new multi-year partnership with Armada Maritime, to extend our industry-specific cybersecurity offerings together in Greece and Cyprus; with CYBER 1 continuing to deliver strong results for Formula 1 and its other enterprise customers and prospects.
Nick Viney, Group CEO of CYBER1 commented on the Third Quarter Results for 2019:
“As we build into the critical time of the year for CYBER 1, it gives me great pleasure to present the third quarter report to our shareholders and the wider investor community. During the quarter, we reached a milestone of surpassing our 2018 total revenue figure (43.95m EUR), recording 45.53m EUR in 2019 with three months still to close. Specific mention must go to a number of subsidiaries, who have demonstrated an impressive performance this quarter. Our professional service offering in the middle east (Cognosec Dubai), has grown year over year by 73.7%, highlighting our important complementary provision to the wide range of vendor relationships we provide in the region. In Africa, we continue to acquire fantastic new clients and partnerships, as well as further entrenching our European presence with our latest acquisitions in Turkey and Greece.”
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 / Zach Cohen
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 31.10.2019 at 13:30 CET.
CYBER1 is engaged in providing cyber resilience solutions and conducts its operations through physical presence in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, Ukraine, and the United Arab Emirates. 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 revenues of 43.95m EUR in 2018. For further information, please visit www.cyber1.com/investors
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