Infinigate still aiming for €5bn by 2027 after reporting slow European growth

The distributor continued its growth trajectory while its European business was hampered under economic challenges

Cybersecurity and cloud distributor Infinigate still has its sights set on €5bn revenues by FY 2027-2028 despite reporting a European slowdown.

In a fresh business update the Switzerland-based distie said it continued to grow during the financial year ended in March 2024, despite a challenging market affected by the economic downturn in Europe.

The MEA region was the highlight of the past financial year, enjoying double-digit growth and healthy profit margins.

Infinigate's 2022 acquisition Starlink stood out as it outperformed the market, generating 26 per cent growth in MEA.

The group's strategic focus during the 2023-2024 financial year centred on driving recurring revenue from software and services offerings.

This strategic shift paid off, with the company delivering a "record year performance."

Software sales accounted for more than 70 per cent of its total revenue, while revenue from SaaS solutions surged 25 per cent compared to the previous fiscal year.

"Infinigate's clear goal is to achieve global coverage. Over the year ahead, we will expand both organically and acquisitively, widening its EMEA footprint and building on its unique offering, centred on cybersecurity specialism, as a trusted advisor to channel partners," said Klaus Schlichtherle, CEO of the distributor.

"We are targeting a revenue of €5bn for the financial year 2027-2028, intercepting the ongoing growth of the cybersecurity market, boosted by the company's strategic programmes and initiatives."

Infinigate said over the past year it achieved important milestones such as the successful integration of acquired companies, an expansion to its vendor portfolio, the launch of financial services and digital platform offerings, and its cloud platform which generated $200m in annual recurring revenue.

Looking ahead

For the 2024-2025 financial year, Infinigate has set its sights on three key objectives.

Firstly, the company said it aims to fortify its partnerships with corporate system resellers and global system integrators, recognising the importance of these ecosystems.

Secondly, the distie will accelerate the rapid growth of its SaaS business, capitalising on the increasing demand for cloud-based solutions.

Thirdly, the company plans to enrich the value proposition of its Cloud Center of Excellence, a dedicated platform designed to support and empower CSPs, MSPs, and MSSPs.

Furthermore, Infinigate said it's making significant investments to bolster its professional services offerings.