WALLIX : 2015 Yearly Results

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  • +33% GROWTH IN SALES, INCLUDING +44% IN THE SECOND HALF
  • 300 ACTIVE CLIENTS, INCLUDING 21 MEMBERS OF THE SBF 120
  • 20 NEW HIRES TO UNDERPIN NEW GROWTH
  • STRONGER FINANCIAL STRUCTURE THANKS TO MARKET LISTING
  • EXPANSION UNDERWAY IN THE UNITED STATES

WALLIX GROUP, a software company providing cyber security and governance solutions for information systems access, has published its results for financial year 2015 (financial year closed as at December 31st, 2015).

Jean-Noël de Galzain, Chairman of the WALLIX GROUP Management Board, said: "Thanks to the success of our market listing, our ambitious development roadmap to make WALLIX a European leader in cutting-edge cyber security solutions is firmly underway. Over the past year, our Group has focused on a broader geographic reach, primarily in the EMEA region, and an enriched software offer to address a much wider market, all underpinned by a major recruitment plan which resulted in the arrival of 20 new members of staff over the period. This strategy has already borne its fruits, triggering a marked acceleration in activity over the second half and which is set to stay in the coming months. 2016 opened with the launch of our new software offer, WAB Suite, which has already won over specialist critics and had very positive feedback from our installed client base. Its commercialization is the new priority as we continue to reinforce our positions in the EMEA region and develop our presence in North America through our first strategic partnership. This ongoing roadmap, coupled with what are still excellent prospects for the cyber security market, means we can confidently look forward to an acceleration in growth in 2016 and will remain on the lookout as increasing market concentration brings new opportunities."

Audited figures (in thousands of euros) 2014 2015
Turnover 3,972 5,295
Other operating income
(capitalized production, subsidies, etc.)
1,842 2,356
Total operating income 5,814 7,651
Total operating costs - 6,136 - 8,725
Purchases and change in stocks - 180 - 257
Other operating expenses - 1,319 - 2,418
Tax - 84 - 116
Payroll expenses - 3,641 - 4,790
Amortization and depreciation - 913 - 1,143
Operating profit - 322 - 1,074
Current income before tax - 320 - 1,114
Net profit - 321 - 1,113
* The consolidated financial statements were approved by the Management Board on 25 March 2016. The accounts have been audited and the certification report will be issued following the completion of the procedures required for the publication of the annual financial report.


STRONG INCREASE OF +33% IN YEARLY TURNOVER

In line with the targets announced last October, 2015 was marked by a strong acceleration in activity in the second half (+44%), resulting in a 33% increase in yearly turnover for WALLIX GROUP which amounted to €5,295 thousand for the period. With this performance driven by sales in both France and overseas (30% of invoicing in 2015), the Group has confirmed its target of generating over 50% of revenues outside France by the end of 2016.

Broken down by activity, turnover for Software which includes License sales and Maintenance increased 31% to €4,582 thousand, with Managed services also up 53% year-on-year in line with Group forecasts.


YEARLY RESULTS THAT ARE CONSISTENT WITH THE DEVELOPMENT PLAN

2015 was a year of very high investment in human resources for WALLIX GROUP. In the space of one year, the company increased its headcount from 40 to 60 employees, with new hires primarily within the Group's Commercial & Marketing and R&D functions. It also led a number of major communication operations in order to increase its visibility.

These factors had an inevitable mechanical effect, leading to a temporary drop in the Group's operating profit which came in at €-1,074 thousand on 31 December 2015.

Net of financial income (€13,000) and non-current expenses (€53,000) and in the absence of corporate income tax, net profit amounted to €-1,113 thousand for the year.


A STRONGER FINANCIAL STRUCTURE

WALLIX has a sound financial footing, with equity boosted by the capital increase carried out last June during the company's market listing. On 31 December 2015, Group equity amounted to €10,575 thousand as against a figure of €2,787 thousand the year before.

At the close of financial year 2015, cash assets amounted to €8,767 thousand (compared with €1,155 thousand on 31 December 2014) and gross debt to €937,000 (vs. €1,029 thousand on 31 December 2014).


POSITIVE OUTLOOK FOR 2016

Buttressed by its recent success and market potential, WALLIX Group has excellent prospects for the first half of 2016, notably thanks to the powerful commercial leverage afforded by its new software suite, WAB Suite, amongst its installed client base and on an increasingly wider Privileged Access Management (PAM) market.

At the same time, in order to consolidate its presence across Europe, the Group intends to continue to ramp up its sales and marketing resources. Around 20 new hires are forecast for 2016, whilst the Group continues to reinforce its network of resellers and integrators.

Last but not least, WALLIX will seek to capitalize in full on its market potential as it pursues its targeted commercial strategy to secure new strategic partnerships in high-growth regions, particularly North America.


Next publication: H1 2016 revenues - 28 July 2016 (after market close).


ABOUT WALLIX
WALLIX, www.wallix.com, is a software company offering privileged access management solutions for large and medium sized enterprises, public organizations and cloud service providers, helping their many customers to protect their critical IT assets including data, servers, terminals and connected devices.

Wallix AdminBastion Suite (or WAB Suite) gives the most effective route to security and compliance by reducing its users' biggest security risk – privileged access to IT – in the shortest possible time. With an unobtrusive architecture, full multi-tenancy, and virtual appliance packaging, WAB Suite is the easiest solution in its category to implement, use and manage. Defined and praised by SC Magazine as a “unique approach to the entire privileged account management problem”, the solution received a five-star rating by the cyber-security expert as well as the mention “Best Buy”. Its best of breed features which include password management, web access portal, access control and comprehensive session monitoring and recording can be deployed easily and securely on premise or in a hybrid cloud environment.

WALLIX is a public company listed on AlterNext, with a strong customer presence in EMEA. WALLIX has offices in Paris, in Munich and London. Over 300 companies trust WALLIX to secure their IT systems, including Alain Afflelou, Danagas, Dassault Aviation, Gulf Air, Maroc Telecom, McDonald's, Michelin, PSA Peugeot-Citroen and Quick.

For more information, go to: www.wallix.com

 
 
 
ACTUS finance & communication
Morgane LE MELLAY – Investors Relations
+33 (0)1 53 67 36 75
wallix@actus.fr
 
 
 
ACTUS finance & communication
Nicolas BOUCHEZ – Finance Media Relations
+33 (0)1 53 67 36 74
nbouchez@actus.fr
Agence MyNtic-PR
Franck TUPINIER – Corporate Media Relations
+33 (0)6 74 68 37 93
 ftupinier@myntic-pr.com

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