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Avast lifts billings 8.6% in FY, sees another good year ahead

Friday 15 March 2019 | 13:54 CET | News
Avast said its full year results came up in line with expectations and that it hit the milestone of 12 million paying customers for PC products in November. Adjusted revenues, excluding forex effects and discontinued businesses, rose 8.3 percent to USD 811.5 million, with Consumer Desktop revenue, also adjusted, going 12 percent higher to USD 580 million. Adjusted billings, lifted 8.6 percent to USD 846.7 million and the adjusted EBITDA climbed 6.7 percent to USD 447 million, with the adjusted EBITDA margin lifting 33 base percentage points to 54.1 percent. Adjusted earnings per share meanwhile were flat at USD 0.28. Avast explained that discontinued activities included its toolbar-related search distribution business, which it is exiting. 

CEO Vincent Steckler said the company achieved strong momentum in new target countries and that it has another healthy pipeline of products launches ready for this year, including its new Smart Home security service. Looking ahead, the CEO is confident of another good year. The company is therefore guiding for high-single-digit growth for adjusted revenue, and a stable EBITDA margin percentage.  

The company has proposed a dividend of 8.6 cents per share for the period covering 15 May to end December, in line with the policy articulated during the company’s IPO.



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Categories: Internet
Companies: Avast
Countries: World
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