Avast PLC - FULL YEAR RESULTS FOR THE YEAR ENDED 31 DECEMBER 2018
Avast plc, together with its subsidiaries ('Avast', 'the Group' or 'the Company'), a leading global cybersecurity provider, announces its results for the year ended 31 December 2018.
Vincent Steckler, Chief Executive of Avast, said:
"I'm pleased to report a successful year for Avast. The business delivered a strong financial performance in line with expectations. Group Adjusted Revenue increased 8.3% on a like-for-like basis, driven by double-digit growth in our Consumer Desktop business. We also sustained high levels of profitability with full year Adjusted EBITDA margin at 54.1%.
"In November, Avast hit the milestone of 12 million paying customers for our PC products, enabled by the success of our monetisation platform, and up-sell and cross-sell campaigns. Alongside continued good growth in traditional markets, we achieved strong momentum in new target countries through our localisation strategy. In 2018 we continued to invest in the breadth and quality of our offerings. We have another healthy pipeline of product launches for 2019, including our new Smart Home security solution.
"Looking ahead, we are confident of another good year. Underlying market dynamics remain supportive of Avast's strategy and growth outlook. For the full year 2019 our expectation is high single digit growth for Group Adjusted Revenue, excluding Discontinued Business and FX, and a stable EBITDA margin percentage."
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