Avast increased revenues to USD 237m

Published: 10.05.2021 Related countries:  Czech Republic Czech Republic

The year started well for Avast thanks to the continuing demand for security solutions, personal data protection and improving or optimizing equipment performance.

The results announced by Avast exceeded market estimates. In response to the presented data, this was stated by Komerční banka analyst Bohumil Trampota, who said that due to its strong ability to generate cash, the company also managed to reduce its debt. According to him, Avast is therefore well on its way to achieving the best year in its history. Avast reported a y/y increase in revenues of 10.5 % to USD 237.1m for 1Q 2021. Adjusted EBITDA increased 10.3 % to USD 133.7m. The final dividend payable in June 2021 is proposed at 11.2 cents per share. CEO Ondřej Vlček said that the year started well for Avast thanks to the continuing demand for security solutions, personal data protection and improving or optimizing equipment performance. On April 16, 2021, the company completed the sale of the Family Safety mobile division. It now expects organic revenue growth at the upper limit of 6 to 8 %. Adjusted EBITDA should remain stable due to investments.

Source: Czech Press Agency, delivered by CzechTrade team Calgary