TIDMDFX
RNS Number : 9014U
Defenx plc
24 January 2017
24 January 2017
Defenx PLC
("Defenx", the "Company" or the "Group")
Trading Statement
Defenx PLC (AIM:DFX), the mobile security software company, is
pleased to provide an update on its current trading and anticipated
results for the year ended 31 December 2016 ("FY16").
Highlights
-- Financial results for FY16 in line with management's expectations
-- Revenues for FY16 of approximately EUR7.3 million
representing 57% year-on-year organic growth
-- Acquisition of Memopal Srl ("Memopal"), a cloud backup and
synchronisation business, completed
-- EUR1.5 million placing and subscription completed to support
accelerated investment in new software
Financial performance
The Group is pleased to report that its financial results for
the year ended 31 December 2016, which are expected to be released
in early April 2016, are in line with management's
expectations.
Defenx traded well in the second half of 2016 and expects to
report revenues for the year ended 31 December 2016 of
approximately EUR7.3 million (2015: EUR4.5 million), representing
57% year-on-year growth on an organic basis and 63% year-on-year
growth including the contribution from Memopal.
The second half revenue brings the full year into profitability,
resulting in an increase in full year operating margins as compared
with 2015.
First acquisition completed
On 1 August 2016, the Company successfully completed the
acquisition of 95.2% of Memopal, a cloud backup and synchronisation
business, for a maximum consideration of up to EUR2.3 million,
including the assumption of outstanding loans from certain selling
shareholders of Memopal.
The acquisition diversified the Group's product portfolio and
added new channel partners, development and support staff.
Integration is proceeding to plan and the acquisition is expected
to be earnings enhancing after sales and cost synergies in
2017.
Broadened distribution
In addition to the eight new channel partners signed during
2016, Defenx is pleased to announce that its Mobile Security Suite
is now available on the Café Bazaar Playstore, an Iranian Android
App marketplace. Defenx is selling indirectly to end-users through
an existing channel partner who is investing in the launch with a
local advertising campaign. Café Bazaar receives approximately 20
million unique visits each week from users inside Iran and offers
more than 25,000 downloadable apps.
Funding
In October 2016, Defenx completed a placing and subscription
raising EUR1.5 million after expenses principally to accelerate
software development. Together with new debt facilities of, in
aggregate, EUR1.2 million, the Group is now appropriately funded
for its current plans.
Outlook
Defenx is on track to launch new products, enter new markets and
broaden its management team in 2017. The board of Defenx is
confident that the Group will show continued growth in revenue and
profit over the coming year in the ever-exciting mobile security
software market.
Investor event
As announced on 10 January 2017, the Company is hosting an
investor event this evening at Davy's at Woolgate Bar and
Brasserie, 25 Basinghall Street, London EC2V 5HA from 18:00. The
presentation for the event will be made available on the Company's
website later today.
Investors and shareholders who wish to attend the event should
register their interest here:
www.eventbrite.co.uk/e/defenx-private-investor-evening-tickets-31028450932.
Andrea Stecconi, Chief Executive Officer of Defenx,
commented:
"I am pleased that, in our first full year on AIM, we have
delivered significant revenue growth by pursuing our strategy of
growing the Defenx product portfolio and expanding our channel
partner network. In addition, we successfully completed our first
acquisition and raised EUR1.5 million to accelerate growth. Our
B2B2C business model continues to enable us to capitalise
profitably on increasing public awareness of mobile security and
privacy threats. I would like to thank our investors for their
continued support and look forward to reporting further progress
and results in 2017."
Enquiries
Defenx PLC
Andrea Stecconi - Chief Executive Officer
Philipp Prince - Chief Financial Officer 020 3769 0687
Strand Hanson Limited (Nominated and
Financial Adviser)
Richard Tulloch / Ritchie Balmer /
James Bellman 020 7409 3494
WH Ireland (Joint-Broker)
Adrian Hadden / Nick Prowting 020 7220 1666
Beaufort Securities (Joint-Broker)
Jon Belliss 020 7382 8300
IFC Advisory (Financial PR and IR)
Tim Metcalfe / Graham Herring / Heather
Armstrong 020 3053 8671
About Defenx
Founded in 2009, Defenx is a fast-growing and profitable
security software company that offers a range of products for the
mobile, PC and network security markets. Defenx security software
is priced competitively, fully featured and efficient (reduced use
of memory, processing capacity and therefore power).
A flexible marketing strategy, focused on white-label and
profit-share arrangements with distributors, telecoms companies and
hardware manufacturers, enables Defenx to compete with established
industry incumbents. Since inception, Defenx has sold over 5.7
million security software licenses, primarily in Europe, the Middle
East and Africa.
Defenx's global distribution partners currently include 3Italia,
Seagate Technology, Türk Telecom and Western Digital, amongst
others including telecoms operators, systems integrators and
original equipment manufacturers. Defenx was admitted to trading on
AIM on 3 December 2015 and acquired Memopal Srl in August 2016,
which has allowed the Company to diversify its product portfolio
and grow its customer base by adding proprietary cloud backup and
synchronisation technology as well as new channel partners.
Website
investors.defenx.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTDMGZMMFMGNZZ
(END) Dow Jones Newswires
January 24, 2017 02:00 ET (07:00 GMT)
Defenx (LSE:DFX)
Historical Stock Chart
From Apr 2024 to May 2024
Defenx (LSE:DFX)
Historical Stock Chart
From May 2023 to May 2024