F-Secure delivers strong growth and profitability for 2007
(Business News, 20 Feb 2008 )
F-Secure Corporation grew its revenue by 20% during its 2007 fiscal year, and reached an all-time high of 96.8m€. The strategically important Internet Service Provider business grew by 38% year over year. Profitability improved by 120% with an EBIT of 19.5m€, representing 20% of revenues. The revenues for the fourth quarter of 2007 were 26.0m€ with an EBIT of 5.5m, 21% of revenues.
F-Secure has been focusing on providing security as a service through Internet Service Providers (ISP’s) for several years, and execution in this business continues strong. Seven new ISP partners were signed up during the fourth quarter, and the total amount of partners at the end of 2007 was 166, operating in 36 countries around the world. New partnerships announced during the fourth quarter include Airtel India, Sify India and Irish Broadband. The ISP business represented 39% of the company’s Q4 revenues, compared to 33% a year earlier. F-Secure security services are now available through ISP partners that cover 37% of all broadband subscribers in Europe, 10% in North America, and 9% in Asia-Pacific region. The company has more partners in this business than any other vendor globally.
In the mobile business F-Secure expanded its co-operation with key handset manufacturers through partnering with Sony Ericsson to provide F-Secure Mobile Security for the UIQ smartphone platform. This is an important step in enabling future revenue streams for the mobile business. Close co-operation with Nokia and Sony Ericsson together with the current operator partnerships make mobile security applications available to a large number of end users. This business now represents approximately 3% of the company’s Q4 revenues.
The good growth of the company has also provided increasing career opportunities for highly trained professionals. During 2007 almost 100 new positions were introduced to the company. "We are glad to see that our mission of protecting and enhancing our customer’s connected lives is resonating well with not only customers, but also with well motivated professionals who decide to join F-Secure to help with this mission and drive company growth. 2007 was a good year for the company and we anticipate a healthily dynamic market moving forward", said Kimmo Alkio, President and CEO of F-Secure Corporation.
