Computerlinks posts double-digit growth

Distributor banks 2008 revenues of €537.5m but sounds note of cautious for year ahead

Computerlinks enjoyed double-digit sales growth in 2008 but has warned that both its top and bottom lines will come under greater pressure this year.

The pan-European security distributor, which was bought out by private equity last August, posted 2008 revenues of €537.5m (£498m), a 14.6 per cent rise on 2007. Sales growth slowed to 10.8 per cent in the second half.

Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 15.3 per cent to €19.2m, although that includes €2m in expenses relating to the takeover.

The distributor argued it is well equipped to survive the economic crisis but warned that margins would further decrease in fiscal 2009. It also admitted that growth in each of its three divisions – e-security, e-business and professional services – would hit a maximum of single digits this year.

For 2008, e-security sales rose 16.6 per cent to €480.7m, generating 89 per cent of the total. Professional services growth was a more muted 7.7 per cent while e-business sales dropped back fractionally.