Cyber Security 1 Ab: Q1 Report

 
TIDMCYB1 
 
 
   Cyber Security 1 AB: Q1 2020 Report 
 
   CYBER1 records strong Q1 revenues of 9.12m EUR, whilst taking proactive 
measures for long term sustainability 
 
   London United Kingdom -- 27 April 2020 -- Cyber Security 1 AB (Publ) 
(the "Company") ("CYBER1") (Nasdaq First North: CYB1), an international 
leader in Cyber Security services today announces its Q1 report, 
recording 9.12m EUR in revenue for the period. 
 
   Despite the wider global business landscape, the quarter results for 
core business were on par with our expectations. The business units have 
adapted quickly to the changing landscape and are well positioned to 
realise business prosperity over the coming quarters. 
 
   Group Highlight Information: 
 
 
   --  Group Q1 revenue of 9.12m EUR in line with Group's expectations; 
 
   --  Group Q1 Gross margin up 3% for the quarter on a like for like basis; 
 
   --  Group Q1 EBITDA of -1.26m EUR, compared to a loss of -160k EUR in Q1 of 
      2019; 
 
   --  Group Q1 operating expenditure has been reduced by 19.77% (-856k EUR) 
      versus Q1 2019. 
 
 
   --  Items affecting comparability- 
 
 
   CYBER1 reported items affecting comparability of 12.5m EUR. This 
comprises of closure costs of -3.88m and -4.81m of goodwill impairment 
related to the divestment of Itway Greece and Turkey. In addition, a 
total of -1.72m EUR of costs related to the restructuring and impairment 
of investments in Cognosec Ltd. Theses have impacted the statement of 
income and comprehensive income. 
 
   Commenting on the report, CEO Daryn Stilwell stated: "The start of 2020 
has seen a number of challenges faced by the business resulting in 
changes some of which have been unavoidable and brought about by the 
current economic uncertainty fuelled by the global spread of COVID-19 
and others in line with the strategic intent of the business to move 
towards profitability. 
 
   In the face of all these challenges and changes, I would like to extend 
my thanks to the staff at CYBER1, who have continued to perform and 
adapt under pressure and drive the business objectives amidst an 
ever-changing landscape. From a strategic perspective, I am working 
closely with the board to provide a sound platform to support period of 
stabilisation for the company and an enablement of our sales strategy 
for 2020." 
 
   This information is information that CYBER1 is obliged to make public, 
pursuant to the EU Market Abuse Regulation. The information was 
submitted for publication, through the agency of the contact person set 
out above, on 27.04.2020 at 18:00 CET. 
 
   Certified Adviser 
 
   Mangold Fondkommission AB is the Company's Certified Adviser. 
 
   Telephone: [phone] E-mail: 
https://www.globenewswire.com/Tracker?data=j6TNe7H-46jQbeqNjzNT0OM7gE6tAp9gyWE3nmc_D2z2JgdEww86hbChwp7yuhFvnHrSaRsctUQ0D6oiEICtfb1ssbccWOOlrP8I30Zy4Du2SGJYk1YMI6w1OmO6Xcfl7-okPqLWQffh5S-8X1rLagJP0jiak9zadH2TOBMaLfXgiuhwYgytQn8Wr2O9M7AMwnNjvn2a_6WYuav-uj1qiWYXicXXMbN1YtIigqhoD6y3bauKIsVTQOykuejk0pzRKcx941tFkxcSCa0hMuSPNGEEijlEH7thlnkEGyErWlxVpr94rzXKwwLaWBhrje0jPwxkqpwglIczJb7wvc6vHVIWXnLFGlzfIO9XaII64JCHY1rcG7-GKVTwliu5BvCFVRfghrhIRsl7Q9WQnPssblDcx4AlRP43Ep0DtN525so= 
[e-mail] 
 
   FOR FURTHER INFORMATION, PLEASE CONTACT: 
 
   European Investor Relations Contact: 
 
   Tim Metcalfe / Zach Cohen 
 
   CYBER1 Email: 
https://www.globenewswire.com/Tracker?data=WpgQg4IG4GKPdGWDpM7Oltgj35JYa-TUQxfEl0tkc6mzKpMqlJTHZJHbmkiO8Y6PVJZcgRGFj5smLw4dyO2jCGJz9olmYZIVKopGCXS63zB6XBLMuiw8zrdaIBr0Z03TCjzMlT0aAKU0jXyfwhIzph0AIe3ofdiXpDUIouGcg8tVcv2kaeNSU4zbyH891i61fufHS97VjcYbWBByhxsuzOPlDF4CvgfptVWlHSaHzhvU3Za83tTflgh73bN7Ftdmuf6QjycFLALfHqq6EakV-fh5BaBjWN7Orv1Vb0aUObLKEY2yj8o-u8w4FlxwsiEEgvQTr93_wA4f_FsagypS5a1x8_iWyBSm9gEaUVHd1sdW5xz-3AW8mHUKuOiMWP7nWYBbDPPeyBs-y3P9HB5KzBYbiHIf3AC1ZjlM42Mba24Oy1PG35Ff4Z7EGKNBtziZ4MHFz7zGPDj0iKdw6tDc2WW3M0i4CgPvSDl0B4u13DIBQqvXDMzHywEMHjcvXsxKHw3FcbrRa0IzjfdETTLobQ== 
[e-mail] 
 
   US-Investor Relations contact, CYBER1 
 
   Matt Glover: U.S Investor Relations contact, CYBER1 
 
   Email: [e-mail] 
 
   ABOUT CYBER1 
 
   CYBER1 is engaged in providing cyber resilience solutions and conducts 
its operations through physical presences in UK, Sweden, Kenya, South 
Africa, United Arab Emirates and the United States. Listed on Nasdaq 
First North Growth Market (Nasdaq: CYB1.ST) and as an American 
Depositary Receipt (OTCQX: CYBNY), the Group delivers services and 
technology licenses to enhance clients' protections against unwanted 
intrusions, to provide and enhance cyber resilience and to prevent 
various forms of information theft. CYBER1 had revenues of 68.73m EUR in 
2019. For further information, please visit 
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www.cyber1.com/investors. 
 
   For further information please visit: 
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www.cyber1.com 
 
   For all company filings and reports, please visit: 
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https://cyber1.com/cyber1-investor-information/ 
 
   Attachment 
 
 
   -- CYBER1-Q1-2020 Report 
      https://ml-eu.globenewswire.com/Resource/Download/dca053c2-e989-428d-9ecd-db6249a4216a 
 
 
 
 
 
 
 

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April 27, 2020 12:00 ET (16:00 GMT)

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