Cyber Security is more important than ever
As our company name suggests, we work in Cyber Security. In this field there has been no shortage of recent events, that continues to highlight the important efforts in securing digital assets. Organisations around the globe are facing an increasing level of threat to their digital infrastructure. CYBER1 continues to be uniquely positioned in implementing solutions to eliminate the damage from security breaches and importantly help prevent future threats. Our customers range from small entrepreneurial companies to large multinational banks and insurance firms, as well as defence departments and other key governmental institutions.

Below are two recent event that helped bring cyber security issues to the forefront for many management teams around the globe:
• Swedish supermarket COOP shut due to US ransomware cyber attack.
• In the USA a SolarWind breach was catalysed by back door code inserted into a single piece of software, which caused one of the largest data breaches for many years.

Operational efficiency and profitability
The company can look back upon two successive quarters of profitability and a higher overall gross margin and reduction in operating expenditure versus the previous year. The wind down of Covid-19 restrictions and subsequent increase in business activities set to fuel further growth for our company in the periods ahead.

CYBER1 went through a company reconstruction that was completed during the spring of 2021 and gained legal effect at the end of June. This effort provided a strong foundation in which to relaunch the company, increasing operational efficiencies and a new strategy, as no stone was left unturned during the process. We are now in a position to reap the benefits from our reorganisation phase. I would like to extend my greatest thanks to all staff for their enormous efforts in achieving a successful reconstruction, whilst navigating the company through the challenges of Covid-19. With our staff being the most valuable component to our organisation, it is very encouraging to see the loyalty and fighting spirit from all of you. Again, thank you for your support and your decision to join us for the next phase in growing our company!
 
New product launch – Managed Services
I am delighted that our new Managed Services offering was launched successfully. Managed Services provides real time cyber security remote monitoring for our clients, enabling them to be agile against the latest threats. The services are hosted from our data centers in South Africa and provide cost efficient 24/7 cyber security monitoring to customers globally (more information here). We are currently expanding the Managed Services into new geographical areas using a partnership model. An example of this model was our market launch into Peru, providing cyber security solutions to the National Lottery (more information here). In close cooperation with our geographical or business segment partners, we will be able to rapidly increase our footprint and reach more potential customers, providing strong recurring revenue lines for CYBER1.

Strengthened organisation
CYBER1 operates through independent subsidiaries in Europe, Middle East, Africa & India. Our high growth ambitions require the very best talent. A new Managing Director in Andrew Njoroge, has been recruited to senior management in PROTEC (Kenya). Andrew’s role will further develop our harmonisation strategy towards other CYBER1 Group companies, to realise group synergies, increase cross selling whilst continuing to be a key provider of professional technologies in the region.

Way forward
We are continuing to collaborate with Cyber Security South Africa & Cyber Security Africa Distribution, which we acquired 50% of earlier this year (more information here). We are experiencing positive developments in all regions, seeing a strong trend that business are recognising more than ever the importance of cyber security solutions. We are engaged with a number of large multinational actors providing a solid pipeline for the remainder of 2021.

I look forward to updating you on our exciting developments in the near future.