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 its first half interim report for 2018, which can be found here.
- Group Revenue increased by 19.97%, from 7.51m EUR in H1 2017, to 9.01m EUR in H1 2018.
- Credence Security UAE increased revenue by 26.3%, from 1.67m EUR in H1 2017, to 2.11m EUR in H1 2018.
- Cognosec South Africa increased revenue by 17.3%, from 4.05m EUR in H1 2017, to 4.75m EUR in H1 2018.
- Cognosec Europe increased revenues by 57.57%, from 535k EUR in H1 2017 to 843k EUR in H1 2018.
- Credence SA increased revenue by 23.28 %, from 786k EUR in H1 2017 to 969k EUR in H1 2018.
- Group Gross Margin increased 17.78%, from 3.15m EUR in H1 2017, to 3.71m EUR in H1 2018.
- Group Gross Margin for H1 2018 was 41% (H1 2017 Gross Margin: 42%).
- Beyond the quarter, CYBER1 entered into an Exclusive Agreement to acquire 100% of InfoNet (Infonet Bilgi Teknolojileri Ticaret Limited) a leading Cyber business, with 2017 audited revenues of 20m EUR and EBITDA of 1m EUR.
The first half of the year marked a significant milestone, with the rebranding of Cognosec AB to CYBER1 which will provide resellers, customers and investors with a clear understanding of who we are, our focus area and our intention to drive our brand globally to new clients who require leading, global, resilient cyber security and GRC solutions.
Total half year revenues across the Group have increased 19.97% (1.5m EUR), recording 9.01m EUR between January and June of 2018. This is due to subsidiaries demonstrating organic growth through new enterprise business and renewals underpinned by our strong client partnerships. In addition to this, key acquisitions have continued their performance after integrating successfully within the Group.
The momentum in the second quarter has positively impacted on the results demonstrated in this report, confirming that the demand for cyber security continues to be paramount to organisations and governments around the world. Our ethos in ensuring customers are more cyber resilient has resonated in the variety of solutions and services that are being delivered, with organic growth being realised particularly within the Middle East and South Africa regions.
CYBER1 is able to provide global coverage for its largest companies and international organisations. Through physical presences and remote applications we are able to cater for all forms of clients. With an established presence in Africa, western Europe and the Middle East, combined with our rapid expansion into the rest of Europe and other targeted geographies, highlights our ability and scope to work with the most influential businesses and nations in facilitating their cyber resilience. Whether you are a large multinational corporation, government agency or a S.M.E we have the multi-jurisdictional expertise and knowledge, so that we can be your complete provider for all of your cyber security and regulatory needs.
Our two clear lines of product distribution and professional services, ensures we are able to meet the ever-increasing demand against cyber threats. Within Credence Security, we continue to build on our key vendor relationships in the Group, to provide full coverage of cyber security tools, to create complex, multi-layered and overall resilient solutions. In Cognosec, we have extensive accreditations and decades of industry experience, to highlight and immediately rectify vulnerabilities, in conjunction with our compliance offering within GDPR, PCI DSS, SWIFT and many more.
For more information about CYBER1, please visit: www.cyber1.com
Mangold Fondkommission AB is the Company’s Certified Adviser.
For further information, please contact:
Tim Metcalfe / Miles Nolan IR-contacts
CYBER1 Email: firstname.lastname@example.org
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 the 31st August 2018 at 15:00 CET.
CYBER1 (formerly Cognosec AB) 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, [formerly Nasdaq: COGS.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 17.2*m EUR in 2017 and employed 239 personnel at the end of Q2 2018.
For further information, please visit www.cyber1.com/investors