SHARP ACCELERATION IN GROWTH IN 2016 AND STRONG OUTLOOK FOR 2017
- 53% INCREASE IN SOFTWARE SALES
WALLIX GROUP, a software company providing cyber security and governance solutions for information systems access, has published its turnover for 2016 (for the year ended 31 December 2016).
Audited figures (in € thousands)
2014
2015
2016
Consolidated turnover
3,972
5,295
7,364
Growth
+33%
+39%
2016 was marked by a new acceleration in growth for WALLIX GROUP, with turnover up 39%, compared with 33% in 2015. This strong performance represents annual turnover of €7,364 thousand and was driven by the Group's core Software business, which expanded by 53% in 2016 - well above the 31% growth recorded in 2015.
With an increasingly large portfolio of clients and a sound offer on a fast-growing market, WALLIX GROUP enjoyed another year of outstanding organic growth.
Jean-Noël de Galzain, Chairman of the WALLIX GROUP Management Board, said: "2016 was an important milestone in WALLIX GROUP'S development in line with our ambitious goals and the commitments we made during our IPO. Growth is robust, we are keeping a tighter-than-expected rein on our capital expenditure, and our offer has already notched up its first major wins on our new target segment of major companies. All of these factors confirm the validity of our sales strategy, its impact on our network of integrator & vendor partners throughout Europe, the Middle East and Africa, and a business environment in which companies that fail to secure their IT infrastructure and data access are all too often given a harsh reminder of the tremendous risks they run.
Privileged account management and traceability are critical in IT risk management for all strategic sectors of the economy undergoing digital transition.
Increasing awareness among Operators of Vital Importance[1], prompted by changes in the regulatory framework following the introduction of the GDPR[2] and the NIS Directive, naturally strengthen our short-term market potential in Europe. With our ANSSI-certified[3] software suite and the success of our first client pilot projects, WALLIX is more equipped than ever to become a European leader in cyber security."
2016 ACTIVITY
In € thousand
2015
2016
Change
Software
4,582
6,997
+53%
Licenses
3,036
4,879
+61%
Maintenance
1,547
2,118
+37%
Other
713
367
-49%
WALLIX GROUP's performance in 2016 was boosted by the commercial success of WAB Suite, which was released at the beginning of the year and which can be deployed three times quicker than rival solutions. The new offer has enabled the company to expand its commercial reach to the entire privileged account management market in Europe, the Middle East and Africa, which represents 25% of an estimated $512 million[4] global market. Overall, software sales surged by 53%.
Within the Software division, the 61% increase in license sales is a clear reflection of the commercial success of the new WAB Suite offer, which allows WALLIX to cover all critical needs linked to governance for information systems access by integrating privileged account security and infrastructure and application password management.
Bolstered by the steady expansion of its installed park, the recurring revenue of WALLIX's Maintenance business has continued to grow (+37%), bringing greater visibility and repeat business for the Group.
Other managed services generated turnover of €367 thousand during the year.
Group sales during 2016 were particularly strong in Europe, Middle East and Africa and cover today 37 countries, including North America and Asia Pacific regions.
STRONG OUTLOOK FOR 2017 CONFIRMED
The second half of 2016 saw WALLIX GROUP consolidate its positioning as a privileged account management expert in strategic segments, with new business verticals in the Healthcare, Industry and Finance & Insurance sectors.
In December 2016, the Group also widened its technological offer with privileged account management solution WAB In the Cloud, available on the Microsoft Azure and Amazon Web Services (AWS) marketplaces. This new offer enables clients and partners of WALLIX, Amazon and Microsoft to access and quickly deploy WAB Suite to protect their Cloud-based IT resources, and offers a quick and easy way of securing access to sensitive data.
The acceleration in sales activity was further supported by deferred revenue (orders that have been billed but not yet recognized in turnover), which totaled €3 million for the year, up 59% compared with 2015.
In a short time the Group entered in a period of acceleration in the Europe, US, Middle East and Africa markets and occupy a leading position in the European market. Today, it is ideally placed to pursue its strong growth in an increasingly active cyber security market where concentration trends offer new opportunities and the probable emergence of European Champions.
WALLIX GROUP looks forward to another year of strong organic growth in 2017 and intends to play a key role in this extremely buoyant market.
Next publication: 2016 yearly results on 30 March 2017
ABOUT WALLIX
As digitalization impacts companies' IT security and data integrity worldwide, it poses an even greater challenge if the data involved is highly sensitive. The recent regulatory changes in Europe (NIS/GDPR) and in the United States (NERC CIP/Cyber Security Directorate) urge companies belonging to sensitive sectors to place cybersecurity at the heart of their activity.
In response to these challenges, WALLIX created a bastion designed to secure organizations' core assets while adapting to their daily operational duties: WALLIX ADMINBASTION Suite. The WALLIX bastion accompanies more than 100 operators in sensitive sectors to conform with regulations and over 400 organizations in the protection of their critical assets, securing the access to more than 100,000 resources throughout Europe and the MEA region. It was also the first government-certified solution in the market. WALLIX partners with a trained and certified network of over 90 resellers and distributors that help guarantee effective deployment and user adoption.
WALLIX is the first European cybersecurity software editor to be publicly traded and can be found on Euronext under the code ALLIX. As one of the leaders of the PAM market, major players trust WALLIX to secure access to their data: Danagas, Dassault Aviation, Gulf Air, Maroc Telecom, McDonald's, and Michelin are among them.
The WALLIX bastion was elected “Best Buy” by SC Magazine and awarded at the 2016 Computing Security Awards, BPI Excellence, and Pôle Systematic.
Keep up to date on PAM and IT Security news on the Wallix Blog at http://blog.wallix.com/
ACTUS Finance & Communication
Natacha MORANDI - Investors Relations
Tel. +33 (0)1 53 67 36 94 / [email protected]
ACTUS finance & communication
Nicolas BOUCHEZ - Financial Press Relations
Tel. +33 (0)1 53 67 36 74 / [email protected]
[1] Operators of Vital Importance are defined as public or private sector operators with information systems where breaches of security or operations could substantially compromise a nation's war or economic potential, security or survival – Article L.1332-1 of the French Defense Code (Code de la défense).
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