Double-digit growth in revenues continues, driven by Cyber Security (+21%). EBITDA also positive, essentially stable, discounting major investments in international expansion and the development of a new solution.
Net income, also affected by investments, remains positive.
- Value of Production: €10.07 million (+14.56% compared to €8.79 million in H1 2023)
- Total revenues: €9.09 million (+16.24% compared to €7.82 million in H1 2023)
- Cyber Security revenues: €6.54 million (+20.89% compared to €5.41 million in H1 2023)
- EBITDA: €2.81 million (-0.05% compared to €2.96 million in H1 2023)
- EBITDA margin: 27.88% compared to 33.7% in H1 2023
- Operating profit: €0.87 million (-33.81% compared to €1.16 million in H1 2023)
- Negative net financial position (cash) amounted to – € 0.32 million (- € 3.85 million at December, 31st 2023)
Reggio Emilia, September 26th, 2024 – Cyberoo S.p.A. (“Company” or “Cyberoo“), an innovative SME listed on the EGM (Euronext Growth Milan) market, specialized in cyber security for companies, announces that today the board of directors of the company examined and approved the consolidated half-yearly report for the period ended June 30, 2024.
Fabio Leonardi, CEO of Cyberoo, commented:
“The results achieved in this first half of the year, in line with our expectations and expected growth, confirm the soundness of our strategies and our propensity to the market. Revenues are growing well, in line with the seasonality typical of the sector, and EBITDA remains positive: the costs incurred, aimed at supporting the company’s expansion, are mainly focused on internationalization and the development of a new solution, that will become for Cyberoo another business line alongside the others and that can bring great value to the company in the medium term both in Italy and abroad.
On the international front, the distribution agreement signed with Arrow Electronics is an important strategic step that strengthens our presence in Poland, where we already have eight active partners, and accelerates the building of solid foundations for the future, both in Poland and beyond. In Spain, another key market, just a few months after the launch of operations we have already stipulated a distribution agreement with Zaltor, one of the main players in the Iberian Peninsula, thanks to which we will be able to quickly execute a structured, wide-ranging penetration.
As for innovation, we continue to lead the way, first and foremost with the launch of new functions and modules for Cypeer and CSI. Indeed, Cypeer Keera, born out of the investments made in 2023 in response to the growing needs of the market, enables the completion of remediation management for companies and the management of a functional chain of survival. Cypeer Keera further represents our desire to help customers deal with threats in a structured, functional way.
Most importantly, we are working on a major project that will see the light of day in 2025, a new solution with a strong generative AI component that will offer the market an innovative solution consistent with our expertise and quality. It is a project with international visibility that in time could reach the revenue volumes of cybersecurity services, thus confirming our ongoing commitment to investing in innovative technologies and solutions.
In Italy our initiatives are proceeding at full speed: we have consolidated our presence in the country’s central and southern regions, strengthening the network with 13 new local agreements, as well as in the north where our presence is now well structured and supported by a constant increase in awareness, also linked to new regulations, in particular NIS2, which imposes cybersecurity requirements on many companies involved in critical European infrastructure. Today Cyberoo offers companies solutions to help them comply with new requirements, positioning itself as the right partner at the right time.
During the first half of the year, on June 24, we were once again recognized internationally as a “Representative Vendor” in Gartner’s “2024 Market Guide for MDR Services”, the only Italian company among the few European players included.
Finally, the launch of our first marketing campaign, “Above the Rest,” received a great deal of attention, including an emotional video and the participation of Federico Buffa in an exclusive podcast.
All this without forgetting our commitment to sustainability, which remains an integral part of the company’s operations.
The progress made over time and the soundness of the strategy, with a focus on international expansion and innovation, put us in a position to seize the future opportunities that are increasingly emerging in a high-growth market, allowing us to further strengthen our positioning in the industry.”
For the full data:
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Cyberoo S.p.A.
Cyberoo S.p.A., a company listed on the Euronext Growth Milan stock exchange of Borsa Italiana, is an innovative Reggio Emilia-based SME specialized in cyber security for businesses, intended not only to protect IT systems from external attacks but also to implement a real strategy capable of protecting, monitoring and managing IT ecosystem information. Cyberoo S.p.A. serves the mid-sized business market with a broad and deep portfolio of enterprise solutions developed using the most advanced technologies and with a value chain that allows the organization to set prices that are in line with customers’ spending power.
FOR INFORMATION CYBEROO:
CYBEROO
Chief Marketing Officer & Investor Relator
Veronica Leonardi | investor@cyberoo.com +39 0522 388111
CYBEROO PRESS OFFICE ReputationValue, communication & public affairs
Federico Ziller | ziller@reputationvalue.it +39 335 7555508
Fabio Pandolfini | pandolfini@reputationvalue.it +39 339 7214602
EURONEXT GROWTH ADVISOR CYBEROO
EnVent Italia SIM S.p.A.
Via degli Omenoni, 2
20121 Milano
Giancarlo D’Alessio | gdalessio@envent.it
