Updates: 03.03.2021 09:30
Released: 03.03.2021, 08:57
Prague – Antivirus company Avast last year, Operating EBITDA increased by 2.6 percent to $ 495.5 million, or about CZK 10.75 billion. Adjusted net profit rose 11.8 percent to $ 360.2 million, or about $ 7.8 billion. Revenues increased by 2.3 percent to 892.9 million USD, ie about 19.4 billion crowns. The company announced this to investors today.
The company proposes a final dividend payable in June of 11.2 cents per share. The total dividend for last year would be 16 cents, which represents a year-on-year growth of 8.8 percent.
The driving force behind growth was the main consumer segment, which accounted for 78 percent of the company’s sales. The number of paying desktop customers increased by 7.9 percent to 13.6 million. For example, in the US, the number of customers grew by six percent, in Italy by 13 percent, in Mexico by 33 percent and in Russia by six percent.
“In a year when people have turned to technology to keep their lives and work running, Avast has played a significant role in securing the data and privacy of its customers. The core of Avast’s business and our key strengths remain unchanged. “We expect organic sales growth in the range of six to eight percent in 2021, supported by strong invoicing growth in the previous year,” said CEO Ondřej Vlček.
The company expects the adjusted EBITDA margin of the group to remain more or less the same compared to 2020, despite the increase in operating costs in connection with the planned migration from corporate systems to the cloud and in connection with higher wage inflation. Avast should maintain strong cash flow due to lower capital expenditures and reduced interest expenses.
Avast was founded in 1988 by Czech researchers Eduard Kučera and Pavel Baudiš, the company is one of the pioneers in the field of computer security. In 2016, Avast bought the competing Czech antivirus company AVG. Avast is the second largest antivirus company in the world after Symantec in terms of sales.