Exclusive Networks racks up first €1bn quarter in EMEA

Paris-based VAD sees 2022 gross sales swell by 38 per cent to €1bn

Exclusive Networks' EMEA business is now turning over more than €1bn a quarter, the distributor confirmed as it unveiled a 38 per cent hike in calendar 2022 gross sales.

Hailing the results and the potential growth of the cybersecurity market, CEO Jesper Trolle pegged Exclusive's addressable market opportunity at $80bn in 2023.

"We are confident that we are well placed to take advantage of this growing opportunity," he said.

The Paris-based VAD generated gross sales of €4.53bn during the year, an increase of 38 per cent on a reported basis and up 36 per cent at constant currency.

Most of this growth (34 of the 38 per cent) was driven by business with existing vendors in their current geographies. The remainder of the growth was due to vendor expansion (two per cent) and 2021 acquisitions (three per cent).

A UK distribution deal with Mimecast was among its most noteworthy vendor expansions during the period.

Adjusted EBIT rose to €154m, up 29 per cent year over year.

EMEA breaks €1bn quarterly sales

Exclusive saw gross sales rise by 42 per cent year on year to €1.45bn in the final quarter of the year. Its EMEA business generated €1.154bn of that total - the first time it has crossed the €1bn threshold in a single quarter - on the back of 44 per cent growth. Americas grew 44 per cent to €176m, while APAC gross sales improved by 26 per cent to €123m.

Exclusive CEO Jesper Trolle hailed the "record-breaking performance".

A ransomware attack is estimated to occur every two seconds by 2031, Trolle claimed as he laid out the market opportunity for the distributor, which made its debut on the Euronext Paris stock market in 2021 and is currently valued at €1.84bn.

"Based on these macro tailwinds, our market leading portfolio of cybersecurity innovative vendors and our global ecosystem of specialist partners; combined with our ability to grow our addressable market through geographic expansion, strategic acquisition, and service innovation, we estimate that in 2023 our addressable market opportunity will increase to more than $80bn," he said..