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CY4GATE S.p.A. — Earnings Release 2023
Feb 2, 2024
6295_iss_2024-02-02_7785572e-50cc-4e57-a469-6f225c454cd1.pdf
Earnings Release
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Press Release
THE BOARD OF DIRECTORS OF CY4GATE HAS EXAMINED SOME PRELIMINARY CONSOLIDATED DATA AS OF 31 DECEMBER 2023
ORDERS AND REVENUES SIGNIFICANTLY INCREASE VS. 2022 THANKS TO THE MIX OF ORGANIC GROWTH AND DEVELOPMENT STRATEGIES FOR EXTERNAL LINES
WITH THE M&A OPERATIONS CLOSED OVER THE LAST TWO YEARS, THE GROUP HAS MANAGED TO PURSUIT ITS OBJECTIVES OF DIVERSIFICATION INTO NEW MARKET SEGMENTS AND OF CONSOLIDATION OF ITS SOLUTIONS OFFER BOTH IN ITALY AND ABROAD
- ORDERS EQUAL TO €73 MILLION +22% COMPARED TO 2022
- TOTAL REVENUES AT OVER €65 MILLION +20% COMPARED TO 2022
Rome, 2 February 2024 - The Board of Directors of CY4GATE (CY4.MI), a national and European player in cyber security and cyber intelligence, meeting today, examined some Consolidated Preliminary Data relating to 31 December 2023.
During 2023, Orders collected amounted to €73 million, showing an increase of 22% compared to 2022.
Total revenues as at 31 December 2023 stood at over €65 million with a growth of 20% compared to 2022 and in line with the pro-forma full year 2022 results.
2023 was characterized by uncertainty and instability, especially on the foreign market, with a sharp slowdown in negotiation activities in the last month of the year. The company has nevertheless continued to invest to expand its product portfolio and to structure itself to face future challenges in relation to a significant increase in opportunities. The preliminary results in terms of revenues confirm that the strategic vision and ambition of the company, supported by significant M&A operations that took place in the two-year period 2022 - 2023, are leading towards a progressive consolidation of Cy4Gate's leadership position in Italy and abroad, despite of the postponement of an important foreign order in the area of Cyber Intelligence worth a total of €13 million, which was awarded in mid-December but for which the conditions precedent were realised in January, and for which negotiations to finalise the final contract are still ongoing.
Emanuele Galtieri, CEO & General Manager of Cy4Gate Group commented: "2023 was characterized by high uncertainty, even on the markets, due to complex geopolitical and strategic contexts to decipher due to the worsening of situations of instability and heated conflict in some geographical areas, which slowed down foreign commercial activities, especially in the last period of the year. The preliminary data for 2023 represents a confirmation of the validity of the resilient business strategy even in situations of unpredictability of the scenarios and as a spur to proceed with renewed enthusiasm and determination towards even more far-sighted and robust goals. 2024 will see us committed to pursuing important growth objectives, in particular in the cyber security segment for the national corporate market and in increasing export shares, knowing we can count on a broader portfolio of companies and products resulting from M&A operations positively concluded, not least in order of
importance the acquisition of XTN last January, which will allow us to open new business frontiers in banking, gambling and automotive, completing the offering with state-of-the-art technologies capable address challenging, broad-spectrum cybersecurity requirements."
This press release is available on the Italian Stock Exchange, on the storage mechanism () and on the Company's website www.cy4gate.com
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About CY4Gate S.p.A.
The Company was founded in 2014 to meet an unconventional demand for cyber security. Listed on Euronext Growth Milan in June 2020, CY4Gate S.p.A. has also been listed on the Euronext Milan Star segment since June 2023. CY4Gate S.p.A. was conceived to design, develop and manufacture technologies and products, systems and services that meet the most stringent and modern "Cyber Intelligence & Cyber Security" requirements expressed by Law Enforcement Agencies, Armed Forces, Institutions and Companies, both at home and abroad. Representing a unique Italian industrial project, CY4Gate S.p.A. operates in all facets of the cyber market, with proprietary products that meet both information collection and analysis and security needs: QUIPO and AMICO in the world of Cyber Intelligence along with RTA, Diateam, CTI and Pronto Cyber in the world of Cyber Security
For more information:
Specialist Investor Relation CY4Gate S.p.A. Marco Clerici +39 335 775 0702 [email protected]
Equita SIM S.p.A. Marco Latini CFO e Investor Relations Manager [email protected]
Investor Relation and Media Relations
CDR Communication Silvia Di Rosa: +39 335 786 4209 [email protected] Luca Gentili: +39 348 292 0498 [email protected] Angelo Brunello: +39 329 211 7752 [email protected] Marianna Tremolada: +39 348 242 3039 [email protected]