Exclusive Networks has shared its first set of full-year numbers since going public, with the distributor delivering against the strategy it set out to investors in its IPO.
For the year ended December 2021, the channel player produced a 15.1% year-on-year improvement in gross sales, coming in at €3.3bn. Adjusted net income of €72.6m represented an 85.1% increase.
The distributor also saw its channel base widen, signing up more than 1,250 new resellers (representing growth of 7%), servicing 110,000 end-customers, up 4,000, as well as expanding with vendors into 21 fresh countries. The firm added 22 vendors to its roster, including Diamanti, Hashicorp, Salt Security and Sonatype.
The year also saw the business use its financial muscle to acquire additional expertise, with buys of emerging vendor support specialist Ignition Technology and Networks Unlimited.
Investors that backed the IPO will be pleased to see that the strategy the firm outlined back in the build-up to going public is delivering the returns the distie’s management expected. The business is focused in some of the large growth areas, particularly security, with the market supporting growth and leading to the business upgrading its 2022 outlook.
Jesper Trolle, chief executive officer at Exclusive, said the results showed not only that it was following the right strategy, but that the business had the resilience to navigate what had been challenging times, with the pandemic and shortages, in 2021.
“We are pleased to present strong results for 2021 and deliver on the strategy we presented at the time of our IPO,” said Trolle. “We successfully delivered on growth and profitability targets and demonstrated our operational excellence, successfully navigating market challenges. Our unique positioning at the centre of the ecosystem and the compelling demand for cyber security solutions drove this strong performance in 2021 and reinforces our confidence in our strategy and outlook for the future.
“2021 was a milestone year for the group as it transitioned from a private into a listed company after its successful IPO on Euronext Paris in September 2021. We have many exciting growth opportunities and continue to take advantage of our strong market position and cybersecurity demand globally."
"The cyber security market is now more prominent than ever as the environment becomes more complex. New legislation, remote working, geopolitics and an increasing adoption of cloud contribute to an acceleration of the growth of the cybersecurity market, and Exclusive Networks is...positioned to capitalise from the structural growth in the market by being the key player at the centre of the highly fragmented and increasingly complex cyber security ecosystem.”
Trolle added that Exclusive was recognised in the market for its consistency, and for channel and vendor partners looking for a solid relationship, these results underlined its position.
“In this ever-changing world, one thing remains clear and simple: our partners constantly rely on our strengths, which are our global footprint, our speed to market, our deep network of vendors and resellers, and our deep cyber security expertise,” he said.