Record financial year 2023: Exclusive Networks breaks the five billion turnover mark

Exclusive Networks sets new benchmarks in revenue and profitability

BOULOGNE-BILLANCOURT, 4 March 2024 – Exclusive Networks (Euronext Paris: EXN) published its annual results last week: In 2023, the VAD increased its net profit to 468 million euros and gross sales to 5.15 billion euros. This corresponds to year-on-year growth of 14 per cent in both cases.

The company’s profitability figures are just as remarkable as the increase in sales: adjusted EBIT rose by 21 per cent to 186 million euros.

Exclusive Networks generated a large part of its growth with existing manufacturers in the current regions. The EMEA region remains the largest market with 78 per cent and gross sales of four billion euros. The growth rate here is also 14 per cent compared to 2022.

“The results for 2023 exceed all forecasts, clearly demonstrating that our model is scalable,” says Jesper Trolle, CEO of Exclusive Networks. In particular, the cloud-based business accounted for 32% of the Group’s revenue last year, 4% more than in 2022, which is in line with the VAD’s digital growth strategy. Endpoint security products play a special role in the VAD’s product portfolio, growing by an impressive 25 per cent last year.

The VAD continues to focus on strategic acquisitions that expand Exclusive Networks’ portfolio and strengthen its position in the area of cyber security. In 2023, the Spanish VAD Ingecom and Consigas, a global provider of cyber security services, were added as new acquisitions.

Well positioned for 2024

Although sales growth slowed in the final quarters of the year, the VAD is still forecasting currency-adjusted sales growth for the current year. Growth of 10 to 12 per cent is expected with a net margin of between 500 and 515 million euros.

“With our solid financial basis and clear strategic direction, we believe we are well positioned to continue our growth trajectory despite the economic challenges,” says Marcus Adä, General Manager of Exclusive Networks Germany and Regional Manager DACH, confirming his strategic direction.

“Our specialisation in cyber security, our innovative service portfolio and our long-standing, close cooperation with industry-leading providers and sales partners allow us to look to the future with optimism.”

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