Financials

Financial targets

Financial targets

Mid-term financial targets

  • Growth Target: To double revenue organically by the end of 2025.
  • Profitability Target: Adjusted EBITDA breakeven by the end of 2023 and adjusted EBITDA margin of some 20% by 2025.

Financial outlook for 2022

Revenue from cloud-native products will grow by approximately 30% from previous year, accelerating in the second half of 2022. Previous year revenue from cloud-native products was EUR 51.8 million.

Comparable revenue of the group will grow at a low double-digit rate from previous year. Previous year’s comparable revenue, adjusted for divested consulting businesses, was EUR 122.8 million.

Estimated comparable EBITDA will decrease from previous year. Decrease is mainly due to increased investments to new product areas, as well as sales and marketing efforts including brand renewal related to company demergerThe Estimated comparable EBITDA will improve in second half of 2022 compared to the first half.

Analysts

Analysts

The following analysts and brokers prepare investment analysis on WithSecure Corporation. These companies cover WithSecure on their own initiative except for Inderes. The research by Inderes has been ordered by WithSecure.

Company Analyst Contact
Carnegie Matti Riikonen matti.riikonen@carnegie.fi
Danske Bank Veikkopekka Silvasti veikkopekka.silvasti@danskebank.com
Inderes Atte Riikola atte.riikola@inderes.fi
Nordea Felix Henriksson felix.henriksson@nordea.com
OP Kimmo Stenvall kimmo.stenvall@op.fi
SEB Jaakko Tyrväinen jaakko.tyrvainen@seb.fi
Stifel David Vignon david.vignon@stifel.com
Key figures

Key figures

Capital structure

Capital structure

From a long-term perspective the objective of WithSecure's capital management is to achieve an efficient capital structure that ensures the functioning of business operations and promotes the increase of shareholder value.

Restated financial information for Continuing operations

Restated financial information for continuing operations (WithSecure) for 2021​

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