Integralis shrugs off recession

Integralis UK managing director Graham Jones

Integralis claims the security market is holding up well in the face of the downturn as it issued an encouraging set of financial results.

The pan-European security integrator posted revenues of €120.9m (£100m) for the first nine months of the year, an 8.9 per cent increase on last year. Operating profits improved from €2.1m to €3m year on year.

Although sales for the third quarter dropped back slightly to €43m, Prime Standard-listed Integralis attributed this to a sharp rise in recurring revenues. As a result, gross margins increased from 32.1 to 35.2 per cent.

Georg Magg, chief executive of Integralis, said: “IT security business is relatively resistant to cyclical effects despite the global financial crisis. Indeed, the IT services market is proving to be a growth driver in the financial crisis as it gives enterprises a means of cutting costs quickly.”

Integralis said the economic backdrop makes it hard to offer a precise forecast for Q4, but confirmed its original annual targets of 50 per cent EBIT growth 10 per cent revenue growth are still possible.

“As we expect a further improvement in the revenue mix in 2009 and beyond
accompanied by a gradual increase in recurring income with its wider margins, we
reaffirm our medium-term EBIT margin of 6-8 per cent,” the firm stated.

Integralis also announced today that it has teamed up with IP solutions supplier, Global Crossing, to create a secure IP services offering for the UK government sector.