• LICENSE SALES UP 58%
• 7 NEW CONTRACTS WORTH MORE THAN €100 THOUSAND WON DURING THE PERIOD
• GROSS CASH UP
• VERY POSITIVE OUTLOOK FOR THE SECOND HALF

WALLIX GROUP, a software company providing cyber security and governance solutions for information systems access, has finished the first half of 2017 on an excellent financial footing and is confident about the rest of the year.

Jean-Noël de Galzain, Chairman of the WALLIX GROUP Management Board, said: “The first half of 2017 demonstrated the strong momentum of the cyber security sector as a whole and our business in particular. The last few months have seen a remarkable amount of media coverage on cyber attacks, which now have a major financial impact, showing how absolutely essential it is for companies and government institutions to adopt suitable defense strategies. In this environment, the ongoing enhancement of our Bastion Suite offer, which is now recognized worldwide as the benchmark in information systems security, and the creation of business verticals in high potential segments means we are ideally placed to ramp up our business with major corporates and confidently tackle the second half of the year.”

FIRST-HALF 2017 HIGHLIGHTS

In the first half of 2017, WALLIX GROUP consolidated its position as a Privileged Account Management (PAM) expert and was named one of the PAM leaders in the Product and Innovation categories in the KuppingerCole 2017 Leadership Compass report.[1]

Thanks to this positioning, WALLIX has seen an acceleration in its activity with major corporates – especially within its strategic business verticals of Health, Industry and Banking & Insurance – securing seven new contract wins worth more than €100 thousand each (versus two in the prior-year period). One of these contracts, signed with a French Operator of Vital Importance, is worth more than €1 million. Today, 28 companies in the SBF 120 index have placed their trust in WALLIX (versus 21 at the start of 2016).

FIRST-HALF ACTIVITY

WALLIX reported turnover of €4.4 million in the first half of 2017, up 50% on the same period in 2016. This robust performance was underpinned by the Group's core Licenses division, which grew by 58% thanks to the commercial success of the new WAB Suite. This offer allows WALLIX to cover all critical needs linked to governance for information systems access while integrating privileged account security and password management.

Also in the Software business, the Maintenance division continued to grow, with the steady expansion of the installed park driving a 38% increase in turnover. This division offers good visibility and strong repeat revenues.

Managed services expanded by 38% year-on-year, in line with Group forecasts.

The Group's sales performance for the first half of 2017 was particularly strong in France and in Western Europe, the most mature markets today. WALLIX recorded growth of 54%, bringing total turnover in France to €3.3 million. Business outside France currently accounts for 25% of Group turnover.

INCREASE IN GROSS CASH

The Group's gross cash position had improved by €1 million to €6,936 thousand at 30 June 2017 from €5,938 thousand at end-June 2016. This increase reflected management's sound control over operations and the use of an interest-free “innovation” loan of €850 thousand from Bpifrance to support its innovation strategy, particularly in the field of cloud computing.

POSITIVE OUTLOOK CONFIRMED FOR SECOND-HALF 2017

Bolstered by the recognized quality of its offer on a fast-growing target market and by the strong development of its business with major corporates, WALLIX GROUP intends to maintain a high level of organic growth over full-year 2017 and to act as a driving force in this highly favorable market environment. The Group is also on the lookout for consolidation opportunities in the sector.

Next publication: 2017 half-yearly results on 26 October 2017

 

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