Cyber Security revenues +40.6%, with EBITDA margin at 42.2%
Rapid, sharp organic growth continues in production value and sales revenues, well beyond market growth values.
EBITDA and net income also up sharply.
- Value of Production: €22 million (+25.4% compared to €17.6 million in 2022)
- Total revenues: €20 million (+28.7% compared to €15.6 million in 2022)
- Cyber Security revenues: €15.5 million (+40.6% compared to €11 million in 2022)
- NFP (cash): -€3.9 million (+103.5% compared to -1.9 in 2022)
- EBITDA: €9.3 million (+37.8% compared to €6.7 million in 2022)
- EBITDA margin: 42.2% compared to 38.3% in 2022
- Operating profit: €3.9 million (+42% compared to €2.8 million in 2022)
Reggio Emilia, March 27, 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 annual report for the period ended December 31, 2023.
Fabio Leonardi, CEO of Cyberoo, commented:
“The FY23 financial statements confirm the quality of our path, with sound results demonstrating strong growth.
Business results were driven by cybersecurity revenues, which grew by 40%, an increase well above the +12% recorded by the market, with an EBITDA margin of 42.2%.
The year 2023 was full of initiatives and activities and, despite the complex economic environment, the business generated results that met expectations, affirming the company’s strategic choices, and consolidating our leadership in the market. Today, Cyberoo is capable of promptly responding to different cybersecurity needs, guiding, and accompanying businesses on a virtuous path of cyber resilience.
Thanks to our technological and service capabilities, Cyberoo also earned recognition as a Gartner Representative Vendor partner in the Market Guide and two other industry reports in 2023.
The inclusion of Cyberoo as the only Italian company in Gartner’s “Market Guide for Managed Detection & Response Services 2023” and as a Trusted Introducer in the CERT network increasingly recognizes us as a central player in cybersecurity both in Italy and abroad.
In 2023, we acquired 100% of Cyber Division, now Cyberoo Docetz, thus making it possible to support the MDR service with unique Incident Response and consulting expertise in the industry. The period also saw the expansion of the i-SOCs, with the opening of a further tier in Warsaw.
The investment in Poland has also been satisfying due to the skills contributed as well as for the provision of the service, but also on the commercial front, thanks to the first partnership agreements and the first customer that has entered into a contract.
With a growing awareness of our role as a major player in the market, we are preparing for an extremely positive year once again in 2024. Both in 2023 and in this first quarter of 2024, we have in fact continued to invest, with a proactive spirit and the team philosophy that makes us stand out, and to expand our sales and support staff in Italy, with the awareness of having created a unique team in our sector, and in Poland, where the sales force will have the duty of building and consolidating the new network of Polish partners, to build a presence comparable to that present today in the Italian market.
Investments are also aimed at launching a new service and extraordinary technological evolutions of existing services, which also use the generative AI developed thanks to the skills of our developers, which we will announce at our Black Club Partner Conference in May in Milano Marittima.
Despite the uncertain context and international geopolitical tensions, cybersecurity remains an essential investment for companies, indeed it is today more than ever, as the European Union has issued important directives on the matter.
Thanks to what has been done to date, its strong characterization and the investments made, Cyberoo is increasingly recognized in its role as a key player in the cyber security landscape, among the most innovative in the European market, and is ready, increasingly so, to meet market demand, both in Italy and on the European commercial front.
We expect our journey to continue along its bright path in the near future.”
To read 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 S.p.A.
Chief Marketing Officer & Investor Relations Manager
Veronica Leonardi | veronica.leonardi@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
CYBEROO’S EURONEXT GROWTH ADVISOR
EnVent Capital Markets Ltd
42 Berkeley Square – London W1J 5AW
Giancarlo D’Alessio | gdalessio@enventcapitalmarkets.uk
