Avast delivers 'another strong year'

25th Feb 2022 07:54

(Sharecast News) - Cybersecurity company Avast said on Friday that it had delivered "another strong year", with top-line organic growth, high levels of profitability and cash flow generation.

Avast stated billings were up 2.9% in the year ended 31 December at $948.4m, with organic growth of 4.3%, while revenues were 5.4% higher year-on-year at $941.1m and consumer direct revenues were 11.1% stronger at $811.2m.

Adjusted underlying earnings were 4.5% higher at $517.6m, while adjusted fully diluted earnings per share were up 7.8% at $0.37 despite adjusted EBITDA margins slipping 50 basis points to 55.0%.

Avast also pointed to continued strong cash generation throughout the year, with unlevered free cash flow up 5.8% to $477.4m and a resilient balance sheet of $469.0m of cash and available liquidity.

As of 0840 GMT, Avast shares were down 0.057% at 621.65p.