Global technology provider and specialist distributor Westcon-Comstor has announced FY22 net earnings of $2.89bn (€2.13bn), up by 11.8%, following demand for all technologies in the Westcon International portfolio.
The distributor said EBITDA profit increased by 52% to $68.1m (€54.5m), compared to $44.8m (€35.8m) in the previous year, with gross margins averaging 11% globally.
Westcon International’s gross profit jumped up from $291.0m (€271.7m) in 2021 to $319.0m (€297.8m), by 9.6%, supported by strong results in both Europe and Asia-Pacific.
“Two years ago, our company demonstrated strong resilience in the face of the pandemic and the FY22 results we announced today illustrate our ability to not just sustain strong momentum but to go beyond and adapt and win in a rapidly changing market”, said David Grant (pictured), CEO of Westcon-Comstor.
Westcon-Comstor also said that demand for its solutions continued to climb. Despite supply constraints and chip shortages, its backlog of orders increased over 300%, from $261m (€243.6m) for FY21 to $824m (€769.0m) for FY22.
“Multi-year investments we’ve made in business automation and digital tools are paying dividends as well,” Grant continued. “Our focus on Solutions Lifecycle Management and building Flexible payment solutions helped us to ensure that over 50% of our gross revenue in FY22 was recurring; we see that percentage growing as we go into FY23.”
