Mobility management solutions and telecom software specialist Globo has announced positive unaudited interim results for H1 2013 driven by positive market trends, particularly in the field of 'bring your own device' (BYOD) tendency, it says.
Both Globo's market sectors, consumer and enterprise, were doing well posting a revenue increase by 22% y/y (to €17.9m) and by 132% y/y (to €10.2m), respectively. The enterprise segment with its leading GO!Enterprise was strengthen by a disti agreement signed with Ingram Micro in North America in H1 and, in particular, the prospective contribution from its 'Enterprise Mobility in a Box' distributed now through the US and Canada. The growth in the enterprise segment was also supported by a growing demand for BYOD trend.
BYOD trend in mobile technology also contributed to Globo's performance, especially given that Globo's Go!Enterprise solution delivers a platform that aims to provide the employees secure access to corporate date, it says.
On the other hand, the consumer segment (CitronGO! And Go!Social), which accounted for 56% of total revenues for the period, saw a growth in the emerging markets due to a growing demand for internet and social media through feature phones.
As far as the telecom segment is concerned, SaaS solutions increased by 81% y/y to €3.64m, thanks to continued expansion of the company's WIPLUS WiFi service that includes the managed services provided to hotels, airports, marinas and other locations.
In total revenue increased by 52% year-on-year to €32.03m reflecting the overall growth in the mobile sector. Gross profit went up by 40% to €17.05m with gross margin of 53% (against 57% at the same time a year before). EBITDA increased 44% y/y to €18.64m, with operating margin going up to 45% while profit before tax stood at €14.47m which translated into a 74%-growth year-on-year.
During the first six month of the year Globo also managed to secure a €20m three-year revolving credit line with Barclays Bank for future investments and acquisitions, it says. The company entered into new partnerships and alliances with technology companies, including IBM and Fujitsu, and signed new reseller agreements.
In the coming months Globo plans to leverage its entries into key markets with a strong focus on enterprise mobility and BYOD trends in Western Europe and the US. Additionally, it expects that its consumer-dedicated solutions will continue to grow, mostly in the emerging markets, where the smartphone saturation is still relatively lower. The markets with strong demand for internet access and with limited bandwidth capacity will be targeted by Globo's CitronGO! And Go!Social - where the revenues will be generated from services provided to end users via Value Added Service providers and Mobile Network Operators.
"Globo's growing reputation in consumer and enterprise mobile markets around the world is being translated into a strong, profitable trading performance. Demand for our market-leading products and services are being supported by positive market trends, particularly BYOD, and we are continuing to invest in R&D to strengthen our competitive edge. The potentially substantial contribution from Enterprise Mobility in a Box and Go!Enterprise 247 cloud offering and the positive trading so far in the normally strong second half, have increased our confidence in achieving market forecasts for the full year," says non-executive Chairman, Barry Ariko.
The company has also reiterated its market forecast for the full year .