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Business EconomyPosted at: Mar 3 2021 5:47PM


Avast plc Full Year Results For The Year Ended 31 December 2020

Pune, Mar 3 (UNI) Avast plc (LSE: AVST), together with its subsidiaries ('Avast', 'the Group' or 'the Company'), a leading global cybersecurity provider, announces its results for the year ended 31 December 2020 here today.
Ondrej Vlcek, Chief Executive of Avast, said through a release here today
' that the Group delivered another strong year of top line organic growth, high levels of profitability and cash flow generation. Group Adjusted Revenue was $892.9m, with organic growth1 of 7.9%, driven by double-digit growth in our Consumer Direct Desktop business.
'In a year when more people and businesses turned to technology to keep their lives and their work enabled, Avast has played a vital role in safeguarding our customers' digital data and privacy. I am proud of the way the Company has met the challenge of the pandemic head on, putting our duty to act as a responsible business at the heart of our approach.
'The core of the Avast business and our fundamental strengths remain unchanged as we continue to effectively leverage the scale and sophistication of our platform in consumer and SMB markets. We are confident in our ability to unlock new growth opportunities, with a commitment to continued product and technological innovation, and a stronger-than-ever customer experience.
'Underpinned by a strong prior year billings performance, we expect to deliver FY 2021 organic revenue growth in the range of 6 percent to 8 percent.’
Adjusted Billings at $922.0m up 1.2% at actual rates, with organic growth of 7.1%.
Adjusted Revenue at $892.9m up 2.3% at actual rates, with organic growth of 7.9%.
Consumer Direct Desktop Adjusted Revenue at $699.7m, up 10.6% at actual rates, with organic growth of 11.3%.
Adjusted EBITDA up 2.6% to $495.5m; Adjusted EBITDA margin2 at 55.5%, up 17bps.
Adjusted fully diluted earnings per share ('EPS') up 9.8% to $0.35 (versus $0.32 at YE 2019).
Proposed final dividend payable in June 2021 of 11.2 US cents per share; total dividend for the year of 16.0 US cents per share, up 8.8%.
Continued strong cash generation with Unlevered Free Cash Flow up 6.2% to $451.1m and Levered Free Cash Flow up 11.9% to $414.3m.
Resilient balance sheet with $215.4m of cash and available liquidity3. Net debt / LTM ('last twelve months') Adjusted EBITDA at 1.5x at year end.
On a statutory basis, Revenue up from $871.1m to $892.9m, Operating profit including $25m COVID-19 donations paid decreased from $344.6m to $335.4m, cash flows from operating activities increased from $399.1m to $456.5m, fully diluted EPS decreased from $0.24 to $0.16 mainly due to significant unrealised FX loss arising from Euro denominated loan.
UNI SP KAZ 1746
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