F-Secure issues a new outlook for 2018 to include the acquired MWR InfoSecurity
F-Secure Corporation, Stock Exchange release, 8 August 2018, 08.59 EEST
As previously communicated (18 June 2018), F-Secure gives a new outlook for 2018. As of 2 July 2018, F-Secure includes the acquired MWR InfoSecurity in the Group’s financials. Management remains confident in reaching the initial outlook for 2018 both in terms of revenue growth and profitability excluding the impacts of the acquisition. New outlook for 2018 is given to include the impact of the acquired company. The outlook for the strategy period 2018-2021 remains unchanged.
New outlook for 2018
The company's new outlook for 2018 including the acquisition of MWR InfoSecurity is:
- Revenue from corporate security is expected to grow by over 35% compared to 2017
- Revenue from consumer security is expected to stay at the same level as in 2017
- Adjusted EBITDA is expected to be in the range of EUR 14-18 million
- M&A related acquisition and integration costs in 2018 are expected to be 3.5-4.0 million
Old outlook for 2018
The old outlook for 2018 was:
- Revenue from corporate security is expected to grow by over 15% compared to 2017
- Revenue from consumer security is expected to stay at the same level as in 2017
- EBIT is expected to be in the range of 8-12M€
Outlook for the strategy period 2018-2021 is unchanged
The demand for cyber security products and services is expected to continue in strong growth and F-Secure aims to grow faster than the market. Revenue from corporate security is expected to grow above 15% annually during our strategy period 2018-2021.
Driven by the anticipated revenue growth and scalable business model, profitability is expected to improve significantly in the long-term. The management continuously seeks to balance the growth investments and profitability to optimize long-term growth and value creation for the shareholders.
Alternative performance measures
F-Secure has included certain non-IFRS based alternative performance measures (APM) as of the second quarter of 2018. Alternative performance measures are provided to reflect the underlying business performance, and to exclude certain non-operational or non-cash valuation items affecting comparability (IAC). The aim is to improve comparability, and alternative performance measures should not be regarded as substitutes for IFRS based measures.
Alternative performance measures include EBITDA, adjusted EBITDA and adjusted EBIT. Depreciations, amortization and impairments are excluded from EBITDA. Also, the adjusted EBITDA and adjusted EBIT exclude IACs which are material items outside normal course of business. These items are associated with acquisitions, integration costs, gains and losses from sales of businesses, and other items affecting comparability.
Contact information:
Tapio Pesola, Investor Relations Manager
+358 44 373 46 93,
investor-relations@f-secure.com