Exclusive Networks Achieves 14% Sales Growth in 2023

Cybersecurity distributor, Exclusive Networks, reports robust sales growth, driven by vendor relationships and market expansion, with a focus on software and support services.

  • Friday, 1st March 2024 Posted 1 year ago in by Sukhi Bhadal

Exclusive Networks has announced impressive sales growth for the fiscal year 2023, with gross sales reaching €5.1 billion, marking a substantial 14% increase, while revenues exceeded €1.5 billion, reflecting a rise of over 6%.

The company's net margin also saw significant growth, expanding by 14% to €468 million, primarily attributed to strong vendor relationships and strategic market expansion initiatives.

A notable shift in Exclusive Networks' sales mix has been observed, with a greater emphasis on software and support & maintenance services. Software sales accounted for 49% of total sales, while support & maintenance increased to 26%, indicating a growing segment within the distributor's portfolio. Conversely, hardware sales declined slightly to 25% of total sales.

Exclusive Networks' cloud-based business has emerged as a substantial contributor, representing 32% of the group's revenue. Additionally, recent acquisitions, including Ingecom and Consigas, have contributed positively to the company's growth, accounting for 0.8% of growth in 2023.

CEO Jesper Trolle highlighted the strategic significance of acquisitions, stating, "Acquisitions remain an important growth lever for us, and we made two acquisitions in 2023 – Ingecom and Consigas – which are an excellent strategic fit and progressing well."

The EMEA region continues to serve as Exclusive's largest market, significantly contributing to its sales performance. The company's profitability has seen a notable increase, with adjusted EBIT rising by 19% to €191 million.

Looking ahead, Exclusive Networks anticipates continued growth for fiscal year 2024, with a projected growth rate of 10-12%. The company expects its net margin to range between €500 million and €515 million, with adjusted EBIT forecasted to be between €200 million and €210 million, indicating a strong performance and robust free cash flow outlook for the coming year.

Sectigo Joins Pax8 Marketplace

Posted 5 days ago by Phil Alsop
Company fast-tracked by Pax8 to help MSPs remove the complexity behind SSL/TLS certificate management, reducing the risk of business outages for...
Distributor achieves Zscaler Partner Delivery Specialisation in data security across both sales and deployment.

Compliance Scorecard joins Pax8 Marketplace

Posted 2 weeks ago by Phil Alsop
Compliance Scorecard™, a Compliance as a Service (CaaS) platform provider, has partnered with Pax8 to help managed service providers (MSPs)...
Offering will enable partners across EMEA to build new recurring revenue streams.

Hexnode and Kite partner

Posted 2 weeks ago by Phil Alsop
This partnership follows the opening of Hexnode's UK quarters on the 29th floor of London’s architectural masterpiece, the Gherkin skyscraper.
Fresh from a $50M round of investment, Unframe is now eyeing growth in the UK&I.

Distology partners with Radiflow

Posted 3 weeks ago by Phil Alsop
The latest partnership offers resellers a comprehensive OT security solution to safeguard critical and national infrastructure.
Expanded collaboration enables channel partners to capitalise on growing demand for AI-driven security solutions through MSSP and cloud marketplace...