- LICENSE SALES UP 58%
- REINFORCEMENT OF TEAMS IN LINE WITH THE GROUP'S STRATEGIC ROADMAP
- €1 MILLION INCREASE IN CASH
- VERY POSITIVE OUTLOOK FOR FULL-YEAR 2017 AND BEYOND
WALLIX GROUP, a software company providing cyber security and governance solutions for information systems access, has published its half-yearly results for 2017.
|Consolidated data (in € thousands)||H1 2016||H1 2017|
|Other operating income (capitalized production, subsidies, etc.)||1,456||1,633|
|Total operating costs||(5,797)||(7,333)|
|o/w other operating costs||(1,945)||(2,047)|
|o/w depreciation and provisions||(678)||(899)|
|*The half-yearly consolidated financial statements were approved by the Executive Board on October 24, 2017 and examined by the Supervisory Board on October 25, 2017. The accounts were reviewed and the certification report issued with no reservations on October 25, 2017.|
50% INCREASE IN TURNOVER AT END-JUNE 2017
WALLIX Group posted turnover of €4,380 thousand for the first half of 2017, up 50% on the first six months of 2016.
Software sales increased 51% and accounted for 95% of turnover for the period, with the 58% increase in license sales clearly reflecting the commercial success of WALLIX Bastion. The Group strengthened its positioning as an expert in Privileged Account Management (PAM), enabling it to continue ramping up its business with major corporates, especially within its strategic verticals of Banking & Insurance, Industry, Health and Cloud computing.
Sales in Maintenance also grew, increasing 38% over the first half to deliver strong repeat business and revenue visibility.
In France, business for the Group increased by a strong 54% over the period and accounted for 75% of sales.
2017 HALF-YEARLY RESULTS FIRMLY ON TRACK
Committed to the roadmap presented at its IPO, WALLIX strengthened its teams in the first half of 2017, taking its employee numbers to 70 on June 30 (up 6% on December 31, 2016 and up 14% on June 30, 2016). To accelerate its growth dynamic, the Group also reinforced its management with the appointment of Chief Operating Officer Didier LESTEVEN, Customer Success Manager Gregory ROUSSEAU, and Quality, Tests and Validation Manager Frédéric PHILIPPE.
Commercial investments were increased to enable WALLIX to pursue its segmentation by vertical expertise and accelerate its capture of new market share. These additional costs have already been absorbed by growth, resulting in a slight improvement in operating profit to a negative €1,319 thousand at June 30, 2017, compared with a negative €1,419 thousand at June 30, 2016. Net profit was stable at a negative €1,335 thousand as against a negative €1,315 thousand one year earlier.
INCREASE IN CASH
WALLIX's gross cash position improved by €1 million to stand at €6.9 million at June 30, 2017 as against €5.9 million at December 31, 2016. The increase reflects a sound management of the Group's working capital and the implementation of an interest-free "innovation" loan of €850 thousand from Bpifrance to support the innovation strategy, particularly as regards Cloud computing.
At end-June, cash net of financial debt stood at €4.7 million and equity at €7.7 million.
At the end of the first half of 2017, WALLIX Group had the robust financial means needed to carry out its growth investments and actively pursue its development on a fast-expanding market whilst capitalizing on its technological lead and the maturity of its software offer.
Jean-Noël de Galzain, Chairman of the WALLIX GROUP Management Board, said: "WALLIX's half-year results reflect our capacity to deliver strong growth semester after semester, and we are beginning to see the positive impact on our operating profit. We will continue to capitalize in full on the strong potential for development offered by today's booming cyber security market. This buoyant market open up a number of opportunities to continue an increasingly high-end positioning with major corporate accounts and cloud players. Our aim is to achieve strong organic growth in 2017 and in the following years while constantly adapting to market needs."
PUBLICATION OF THE FIRST-HALF FINANCIAL REPORT AS AT JUNE 30, 2017
WALLIX Group's financial report for the first half of 2017 is now available to the public and was filed with the French market authorities, the Autorité des marchés financiers, on June 30, 2017. Copies of this document are available to the public and can be downloaded from the Group's website at www.wallix-bourse.com.
Next publication: 2017 turnover on February 15, 2018
A software company providing cyber security solutions, WALLIX Group is the European specialist in privileged account
In response to recent regulatory change (NIS/GDPR in Europe and OVIs in France) and the cyber security threats affecting all companies today, Bastion helps users protect their critical IT assets: data, servers, terminals and connected objects. It is the first market solution to have been awarded first-level security certification (CSPN) by France's National Cybersecurity Agency (ANSSI) and thus meet all of the criteria for regulatory compliance
WALLIX accompanies more than 500 companies and organizations on a day-to-day basis, securing the access to more than 200,000 hardware and software resources. Its solutions are marketed through a network of more than 130 resellers and trained and accredited integrators. Listed on Euronext under the code ALLIX, WALLIX Group is a leader on the PAM market with a strong presence throughout Europe and EMEA. Alain Afflelou, Dassault Aviation, Gulf Air, Maroc Telecom, McDonald's, Michelin, and PSA Peugeot-Citroën trust WALLIX to secure their information systems.
WALLIX Bastion was a winner at the 2016 Computing Security Awards and has been rated Best Buy by SC Magazine, as well as being named among the PAM leaders in the Product and Innovation categories of the KuppingerCole 2017 Leadership Compass report. The company is a member of Bpifrance Excellence, a champion of the Pôle Systematic Paris Region cluster and a founding member of the Hexatrust grouping of cyber security companies. In 2017, WALLIX Group was included in Forbes France's Futur40 ranking of fastest-growing listed companies.
For more information, visit the WALLIX website at: www.wallix.com
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