After announcing its FY21 turnover last month, French vendor Wallix has reported sharp international growth in its 2021 full-year earnings, with continued investment in the partner network and increased customer growth across EMEA.
The vendor posted a significant reduction in operating loss and a favourable €5.9m (£4.9m) change in working capital during its past financial year.
Wallix’s cash flows from investing activities in 2021 were an outflow of €5.6m (£4.6m), mainly due to product development R&D costs. Free cash flow was positive at €0.6m (£500k), with gross cash and cash equivalents amounting to €22.7m (£18.9m) versus €23.2m (£19.3m) as of December 31, 2020.
“This strong momentum and financial strength will further bolster our confidence as we enter a new phase of growth, driven by a bold strategy aimed at meeting the cybersecurity challenges related to the omnipresent digital transformation,” said Jean-Noël de Galzain, chairman of the Wallix Group management board.
In addition, the company is planning to invest an estimated €10m (£8.3m) in organic growth, nearly half of which will be completed in 2022.
Alongside the announcement, the firm has appointed Frédéric Sarrat as its new deputy managing director. He will be responsible for spearheading its growth across several departments, including marketing, sales, support and services, and product and R&D.
