Westcon-Comstor (Westcon International) reported its FY22 earnings results earlier today. Total net revenue was up by 11.8% to US$ $2.89 Billion driven by strong demand and market share in its cybersecurity portfolio, networking and hybrid infrastructure offers and its remote access and cloud collaboration solutions which were deployed in new flexible working environments.
EBITDA profit increased by 52% to US$68.1 million (FY21: US$44.8 million) with gross margins averaging 11% globally. Westcon International’s gross profit increased by 9.6% to US$319.0 million (FY21: US$291.0 million) supported by strong results in both Europe and Asia-Pacific.
“Two years ago, our company demonstrated strong resilience in the face of the pandemic and the FY22 results we announced today illustrate our ability to not just sustain strong momentum but to go beyond and adapt and win in a rapidly changing market”, commented David Grant, CEO of Westcon-Comstor.
“Our focus on portfolio expansion with software and subscription-based solutions has helped us to not only record double-digit, organic revenue growth– despite material product supply constraints– but to drive unprecedented EBITDA improvement as well. It’s a true testament to the hard work of our teams across all operations, who have performed exceptionally well this last year.”