TURNOVER UP 55% IN H1 2016

WALLIX GROUP, a software company providing cyber security and governance solutions for information systems access, enjoyed a surge in activity over the first half of 2016 (+55%) and has confirmed its extremely favorable outlook for the remainder of the year.

 

Jean-Noël de Galzain, Chairman of the WALLIX GROUP Management Board, said: "I am very proud of the work accomplished by all of our teams since the start of the year. The first half of 2016 perfectly illustrates the growing success of our solutions and the formidable potential that today's vast cyber security market has to offer. In France, the first decrees linked to safety obligations for Operators of Vital Importance (OVI) are further proof of the huge potential for development on our domestic market and the inescapable value of our offers that are certified by the French Information Systems Security Agency, the ANSSI. Overseas, the enrichment of our sales network managed by a strengthened team of sector experts has raised our profile and confirmed our capacity to rank as a benchmark European player on a global scale.
These are all factors which will drive growth in the short and medium term as is the need to prevent massive data leakage and to safeguard personal information in accordance with the EU data protection reform adopted in April 2016."

BREAKDOWN IN ACTIVITY

WALLIX reported turnover of €2.9 million for the first half of 2016, up 55% on the same period in 2015. This robust performance was underpinned by the Group's Software business which grew by 68% and accounted for 94% of turnover for the period.

Within the division, the 89% 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 password management.

On sale since the beginning of the year, the WAB Suite was rated Best Buy by SC Magazine, a benchmark English review for sector professionals, and was named Product of the Year at the 2016 Cyber Security Awards in the Identity & Access Management (IDAM) category.

WALLIX also reinforced its expertise in Cloud technologies and collaborative tools with the acquisition of MLstate over the period. These complementary resources will enrich future versions of the offer.

Bolstered by the steady expansion of the installed park, WALLIX's Maintenance business has continued to grow (+41%) and bring greater visibility and repeat revenues for the Group.

Groups sales during the first six months of 2016 were particularly strong in France (up 66% to €2.1 million), with the tangible impact of overseas initiatives expected as of the second half.

OUTLOOK FOR H2 2016: ACCELERATION IN GLOBAL EXPANSION

Alongside the commercial launch of WAB Suite, WALLIX has also focused on enriching its sales network and its global reach:

• in Germany and Eastern Europe, with the opening of an office in Munich and the appointment of Markus Westphal as Director for Central and Eastern Europe;

• in the United Kingdom, with the signing of a major partnership agreement with UK distributor of specialist value-added cyber security solutions, DISTOLOGY;

• in Western Europe, with the appointment of Philippe Guerber as Channel Manager for Western and Southern Europe to strengthen and oversee the WAP-CHANNEL for WALLIX Alliance Partner;

• in the United States, with the launch of the Group's first operations in collaboration with a local partner.

WALLIX's aggressive sales strategy is deployed via a solid network of 89 resellers in 25 countries.

Next publication: H1 2016 results on 27 October after the close of trading.

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Source: Actusnews