welcome to
play

WELCOME TO F- SECURES ANNUAL GENERAL MEETING 1 MATTERS ON THE - PowerPoint PPT Presentation

Jun 07, 2023 •292 likes •650 views

WELCOME TO F- SECURES ANNUAL GENERAL MEETING 1 MATTERS ON THE AGENDA 1. Opening of the meeting 2. Calling the meeting to order 3. Election of persons to scrutinize the minutes and to supervise the counting of votes 4. Recording the

  1. WELCOME TO F- SECURE’S ANNUAL GENERAL MEETING 1

  2. MATTERS ON THE AGENDA 1. Opening of the meeting 2. Calling the meeting to order 3. Election of persons to scrutinize the minutes and to supervise the counting of votes 4. Recording the legality of the meeting 5. Recording the attendance at the meeting and adoption of the list of votes 6. Presentation of the annual accounts, the report of the Board of Directors and the auditor's report for the year 2016 Review by the CEO 2

  3. Annual General Meeting, 5 April 2017 REVIEW BY THE CEO 3

  4. HIGH LEVEL TRENDS IN SECURITY DISAPPEARING PERIMETERS SOPHISTICATED ATTACKS EXPANDING ATTACK SURFACE HIGHTENED RISK AWARENESS 4

  5. SEVERAL FACTORS DRIVE DEMAND Targeted attacks - Ransomware for the almost anything cloud era and IoT? seems possible The cloud industry Emerging attacks grows – vulnerable for IoT with simple encryption Governmental Email continues to be a cyber strikes popular attack vector EU’s General Data Protection Regulation (GDPR) - increasing fines for poor security governance 5

  6. CORPORATE SECURITY CONTINUES TO DRIVE THE GROWTH Information security revenue forecast 2014-2020 USD billion 120 100 80 8-9% annually 60 40 7-8% annually 20 1% annually 0 2014 2015 2016 2017 2018 2019 2020 Corporate security services Corporate security products Consumer security Source: Gartner, January 2017 6

  7. F- SECURE’S STRATEGIC FOCUS 7

  8. F- SECURE’S APPROACH TO CYBER SECURITY Understand your risk, Minimize attack surface, know your attack surface, prevent incidents uncover weak spots React to breaches, Recognize incidents and mitigate the damage, threats, isolate and analyze and learn contain them 8

  9. OUR CORPORATE SECURITY OFFERING PARTNERING WITH 4,000+RESELLERS AND SERVICES PROVIDERS 9

  10. FOCUSING ON THE MID-MARKET IN CORPORATE SECURITY Mid-sized businesses & Global enterprises Small businesses Local enterprises Protection Business Service for & Suite Business Rapid Detection NEW! Service F-Secure NEW! Radar Cyber security services 10

  11. NEW CORPORATE PRODUCTS ARE TARGETING RAPIDLY GROWING SEGMENTS Market growth estimate 2015-2020 (%) F- Secure’s solutions Rapid Endpoint Detection +45% Detection & Response (EDR) Service Security testing (incl. +14% F-Secure vulnerability management Radar Information security +8% overall market growth 0% 10% 20% 30% 40% 50% 11

  12. 12

  13. MERGING MAN & MACHINE CYBER SECURITY SECURITY EXPERTS TECHNOLOGY Our world-renowned labs research team, Our Live Security- approach combines Our tens-of-millions of security solutions security consultants and ethical hackers the latest human expertise with scalable, out in the field detect and block known and constantly feed new lessons, insights and automated software to rapidly and unknown threats. They feed real-time tactics from their frontline experiences continuously improve the security of our threat information back to our Security into our solutions customers. Cloud, to ensure it is immediately available to all our products and services 13

  14. COMBINING PRODUCTS & SERVICES IS A SIGNIFICANT COMPETITIVE ADVANTAGE We are the only cyber security company ever to have won the Best Protection Award by AV-TEST five times. 14

  15. IN CONSUMER SECURITY INCREASED BUNDLING WITH OPERATOR PARTNERS 200+ OPERATOR PARTNERS TOTAL SECURITY AND PRIVACY + F-SECURE FREEDOME F-SECURE SAFE Bundling enables cross-selling to leverage the power of portfolio, and increase average revenue per customer. 15

  16. F-SECURE SENSE PROTECTING YOUR CONNECTED HOME PROTECT YOUR EASY TO CONTROL CONNECTED HOME AND MONITOR PRIVACY FOR YOUR PROTECTION CONNECTED HOME ON THE GO 16

  17. F- SECURE’S BUSINESS PERFORMANCE Continuing operations only 17

  18. IMPORTANT NUMBERS FROM 2016 Total revenue growth Corporate security revenue growth Consumer security revenue growth +7% +20% +0% EBIT as % of revenue Number of active corporate resellers Net addition in staff +7% 12% +13% +100 18

  19. SALES GROWTH EXCEEDS REVENUE GROWTH % y-o-y nSense acquisition 18% 16% 15% 13% 14% 13% 13% 11% 12% 11% 10% 11% 10% 10% 10% 9% 8% 8% 6% 5% 6% 4% 4% 3% 2% 0% Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Revenue growth Deferred revenue growth 19

  20. CORPORATE SECURITY DRIVES GROWTH EUR million 30,0 2016 revenue growth: 25,0 24,4 24,3 23,9 25,0 23,7 23,6 23,3 23,2 20,0 +0% 17,4 Consumer 15,4 15,1 14,6 14,6 security 15,0 13,7 12,2 11,6 10,0 +20% 32% 41% 5,0 Corporate security of revenue of revenue 0,0 Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Corporate Total Consumer Total 20

  21. 2016 STRONG GROWTH IN CORPORATE SECURITY Revenue from corporate security increased by 20% to EUR 62.5 million ▪ The number of active resellers increased IT RESELLERS by 13% to over 4,000 ▪ Endpoint protection in double-digit growth ▪ Expanded offering with RDS and F-Secure Radar; already showing strong demand Rapid Protection Cyber F-Secure ▪ Consultancy sales continued to be in very strong Detection Service for Security Radar double digit growth, even exceeding Service Business & Services expectations Business ▪ Europe remains in focus, but nearly a third of the Suite growth came from North America and Asia- VULNERABILITY ENDPOINT DETECTION ENDPOINT Pasific MANAGEMENT & RESPONSE PROTECTION ▪ Announced Cloud Protection for Salesforce 100,000 corporate customers 21

  22. 2016 STEADY DEVELOPMENT IN CONSUMER SECURITY Revenue from consumer security was EUR 95.8 million, at previous year’s level ▪ Majority of consumer security revenues from SAFE through the operator DIRECT OPERATORS channel SALES ▪ Increasingly promoting Freedome and F-Secure SAFE as a bundled offering – better security, increased revenue per user Total security and privacy ▪ Focus on improving operational excellence with partners, achieving promising results in end-user take-up rates ▪ Regionally best performance in North Tens of millions of customers and South America, Europe stable 22

  23. SOLID CASH FLOW & STABLE DIVIDENDS EUR million % of revenue 100 200 % 94,3 92,7 90 180 % 160 % 63,7 64,4 80 160 % 70 140 % * 61,3 123 % 60 120 % 40,3 50 100 % 86 % 40 80 % 30 60 % Dividend policy 2015: 20 40 % ▪ Sale of younited ▪ 10 Acquisition of 20 % 29,9 21,1 29,0 nSense 0 0 % 2014 2015 2016 Cash & Bank accounts Available-for-sale financial assets Dividend/Earnings** * Proposed dividend 23 ** Including continuing and discontinued operations

  24. THE OPPORTUNITY IS THERE WE WILL INVEST MORE TO ACCELERATE GROWTH 2017 2016 Seize the opportunity Our model works ✓ Very competitive ✓ Boost product portfolio development ✓ Fast growing ✓ More cross-selling channel ✓ Expand channel ✓ Security capabilities ✓ Recruit best people best-in-class 24

  25. OUTLOOK 2017 ▪ Revenue is anticipated to grow from Encouraged by the results from the previous year’s level (2016: EUR our growth investments in 158.3 million) corporate security in 2016, we ▪ Operating profit is anticipated to be have decided to make a EUR 8-12 million (2016: EUR 19.2 meaningful additional investment million, 12% of revenue); profitability in both product development and in the first quarter of 2017 is foreseen to be lowest during the year following go to market in 2017 typical seasonality, and clearly better towards the year-end 25

  26. OUTLOOK STRATEGY PERIOD 2017-2020 Driven by the anticipated revenue growth and scalability of the high gross margin product based business model, profitability is expected to improve clearly above the level achieved last year (2016: 12% of revenue) towards the end of the 2017-2020 strategy period. 26

  27. F-SECURE SHARE PRICE 1.1.2016- Q3/16 result Q4/16 result Q2/16 result published published published Q4/15 result published Samu Konttinen Share price (in Eur) starts as CEO 3.50 Q1/16 result published 3.00 2.50 Share price change: 1 Jan -31 Dec 2016: +31% 2.00 Volume (in shares) 1 m January March May January July September October March 2016 2016 2016 2017 2016 2016 2016 2017 F-Secure Nasdaq Helsinki 27

  28. QUESTIONS? 28

  29. ▪ www.pwc.com F-SECURE CORPORATION AUDIT 2016 Annual General Meeting April 5th 2017

  30. KEY AUDIT MATTERS OF F-SECURE CORPORATION 2016 AUDIT ▪ Revenue recognition ▪ Creditability of foreign withholding taxes paid related to software products sold in foreign countries in parent company’s taxation April 2017 PwC 30

  31. OPINIONS IN THE AUDITOR’S REPORT In our opinion, ▪ the consolidated financial statements give a true and fair view of the financial position, financial performance, and cash flows of the group in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU ▪ the financial statements give a true and fair view of the parent company’s financial performance and financial position in accordance with the laws and regulations governing the preparation of the financial statements in Finland and comply with statutory requirements. Helsinki February 15th 2017 PricewaterhouseCoopers Oy, Authorised Public Accountants Janne Rajalahti, Authorised Public Accountant Thank You April 2017 PwC 31

Recommend

More recommend