Avast plc first quarter trading update

LONDON, April 20, 2021 / PRNewswire / – Avast plc, in conjunction with its subsidiaries (“ Avast ” or “ the Group ”), one of the world’s leading cybersecurity providers, Releases the following scheduled trading update for the first quarter of its current fiscal year, including the period from January 1, 2021 at March 31, 2021.

Ondrej Vlcek, CEO of Avast, said:

“Avast has started the year well with continued demand for corporate security, privacy and performance solutions. The business evolves as expected as we successfully execute on our stated goals of driving customer engagement and monetization. We can’t wait to do it. the rest of the year with confidence. ”

Financial summary

($ m)

Q1 2021

Q1 2020

Switch %

Switch %
(excluding FX) 1

Returned

237.1

214.6

10.5

10.0

Turnover excl. Acquisitions, disposals and discontinued operations 2

236.4

213.1

10.9

10.4

For the first quarter, sales of $ 237.1 million is up 10.4% organically3and 10.5% at real rates.

The Consumer Direct activity continued to register good growth, while the SME activity also maintained its positive momentum. In March, Avast renewed its contract to promote the Chrome web browser with the distribution of its consumer antivirus products and the CCleaner utility app, up to March 2022.

For the first quarter, adjusted EBITDA increased by 10.3% to $ 133.7 million, resulting in an adjusted EBITDA margin4 by 56.4%. At March 31, 2021, net debt / LTM (“last twelve months”) EBITDA adjusted according to the banking agreement was 1.1x. In March, Avast successfully completed a 480 million USD and one 300 million euros Senior secured term loan to refinance previous facilities. This extended the maturity of the Group’s loans to March 2028 and further reduced interest charges.

Orientation for fiscal year 2021

Avast finalized the sale of the Family Safety mobile business on April 165. The divestiture, which will have a slightly dilutive effect on earnings, will benefit reported growth rates for the remainder of the year. As a result, for the whole of 2021, the Group now expects to deliver in the upper part of the forecasts of organic revenue growth of 6 to 8%, the Consumer Indirect segment having also been revised to a low percentage of single-digit growth.

Due to continued R&D and marketing investments, weighted in the second half of the year, the Group’s adjusted EBITDA margin percentage forecast remains broadly stable compared to fiscal 2020.

Dividend and AGM

The Board recommended the payment of a final 2020 dividend of 11.2 US cents per share. The expected ex-dividend date is May 13, 2021, and the expected payment date is June 18, 2021.

The company’s AGM is scheduled for May 6, 2021. Webcasting facilities will be provided to allow shareholders to follow the proceedings. Further details are provided in the separate RNS (“ Publication of the notice of the 2021 AGM ”) and on the company’s website at https://investors.avast.com.

The company’s next scheduled market update will be the Semi-Annual Report for the six months to June 30, 2021 at August 11, 2021.

INQUIRIES AND MEDIA CONTACT

Investors and analysts:
Peter Russell, Director of IR
[email protected]

Media:
Stephanie Kane, Vice President of Public Relations and Corporate Communications
[email protected]

Tavistock:
Lulu Bridges / Jos Simson / Heather armstrong
Phone: 020 7920 3150

Notes:
1 Growth rate excluding currency impact calculated by retracing the actual 2021 exchange rates at 2020 exchange rates. Deferred income is converted into USD on the invoice date and is therefore excluded when calculating the impact of the exchange rate on income.
2 Growth figures exclude discontinued operations. The company is exiting its toolbar-related search distribution business, which had previously been a significant contributor to AVG’s revenue. In addition, on January 30, 2020, the Group decided to end the operation of its subsidiary Jumpshot Inc. Together, including the Group’s browser cleaning activity, referred to above as “Discontinued activity”.
3 The organic growth rate excludes the impact of foreign exchange transactions, acquisitions, business disposals and discontinued operations. It excludes billings for the current period and acquisition income up to the first anniversary of their consolidation.
4 Adjusted EBITDA margin percentage is defined as Adjusted EBITDA divided by sales.
5 Due to the closing of the sale on April 16, the Family Safety Mobile activity is included in the reported performance for the first quarter of 2021.

SOURCE Avast

Related links

www.avast.com

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