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Avast

April 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • AVST
  • Price:
  • 301p
Global cybersecurity provider Avast announced results in line with revenues up 5.6% (+9.1% organic) to US$873m and adjusted EBITDA rising 8% to US$483m. Ebitda margin rose 1.2% to 55.3%. Eps rose 14.1% to 32 cents (FY 18: 28 cents). Cash flow rose 8% to US$426m, while net debt / EBITDA was 1.8x.Encouragingly, customer retention rates on the core consumer direct desk-top side (72% revenues) increased from 65% at IPO to 67% driven by lower churn in paid anti-virus and CCleaner products. The number of paying customers rose 3.5% to 12.62m while average products per customer rose 4.2% to 1.45m, with a management shift towards greater cross-selling over new customer acquisition.  Management guidance for 2020 is for mid-single ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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