→ Annual revenue expected at €285.5 million
→ Operating margin on business activity of at least 11.0% of
In compliance with Regulation (EU) No. 596/2014, Axway
(Euronext: AXW.PA) is adjusting its annual revenue forecast for the
2021 financial year. Although Axway is able to confirm its annual
profitability target of an operating margin on business activity of
at least 11.0% of its revenue, the company announced today that the
total revenue will not meet the expected organic growth.
While the company was anticipating organic revenue growth of
between 2.0 and 4.0% in 2021, preliminary estimates, which have not
yet been finalized or audited, suggest that annual revenues will be
in the order of €285.5 million, representing an organic decline of
After growing by 2.0% over the first nine months of the year,
Axway's activity declined by 13.5% in Q4 2021. Over the period,
several deals have seen their schedules postponed or their budgets
reallocated. Some major clients and prospects, exposed to
significant recruitment difficulties in their IT and administrative
teams, did not launch the expected projects. These labour shortages
could continue through fiscal year 2022.
Patrick Donovan, Axway's Chief Executive Officer, said:
“Over the past year, our teams have worked extremely hard in
challenging conditions to best serve our customer’s needs. While
all regions started Q4 with visibility to achieve our forecast, we
faced similar challenges in our different markets due to budget
cuts or staffing difficulties at several important clients. I
remain confident in our ability to deliver significant value to our
customers through our solutions and we will continue to do so in
these tough times, while preparing for their return to normal
As planned, the details of the 2021 annual results will be
published on February 22, 2022, after the stock market close and
will be commented on the same evening during a presentation to
analysts scheduled at 6:30pm (UTC +1).
However, to provide early analysis of the company's performance
in Q4 2021, Axway's management team will hold
a conference call tomorrow morning, Thursday, January 20, 2022, at
8:00 a.m. (UTC+1).
Thursday, January 20, 2022, 8:00 a.m. (UTC+1): Analyst &
- Conference registration: Click here Or join by phone by
dialling one of the numbers below and quote "Axway" at the
operator's request: - International: +44 (0) 33 0551 0200 / France:
+33 (0) 1 7037 7166 / USA: +1 212 999 6659
Please note that the meeting will be held in English and will
be available for replay on the company's website.
Tuesday, February 22, 2022, after close of trading: Publication
of 2021 Full-Year Results. Tuesday, February 22, 2022, 6.30 p.m.
(UTC+1): 2021 Full-Year Results Virtual Analyst Conference.
Glossary and Alternative Performance Measures
Restated revenue: Revenue for the
prior year, adjusted for the consolidation scope and exchange rates
of the current year.
Organic growth: Growth in revenue
between the period under review and the prior period, restated for
consolidation scope and exchange rate impacts.
Growth at constant exchange rates:
Growth in revenue between the period under review and the prior
period restated for exchange rate impacts.
ACV: Annual Contract Value – Annual
contract value of a subscription agreement.
TCV: Total Contract Value – Full
contracted value of a subscription agreement over the contract
Signature metric: Amount of license
sales plus three times the annual contract value (3xACV) of new
subscription contracts signed over a given period.
Net Signature metric: Signature
metric net of the maintenance attrition by migration to new
Profit on operating activities:
Profit from recurring operations adjusted for the non-cash
share-based payment expense, as well as the amortization of
allocated intangible assets.
NPS: Net Promoter Score – Customer
satisfaction and recommendation indicator for a company.
Employee Engagement Score:
Measurement of employee engagement through an independent annual
This press release contains forward-looking statements that may
be subject to various risks and uncertainties concerning the
Axway’s growth and profitability, notably in the event of future
acquisitions. Axway highlights that signature of contracts, which
represent investments for customers, are more significant in the
second half of the year and may therefore have a more or less
favourable impact on full-year performance. In addition, Axway
notes that potential acquisition(s) could also impact this
financial data. Furthermore, activity during the year and/or actual
results may differ from those described in this document as a
result of a number of risks and uncertainties set out in the 2020
Universal Registration Document filed with the French Financial
Markets Authority (Autorité des Marchés Financiers, AMF) on March
18, 2021, under number D.21-0147. The distribution of this document
in certain countries may be subject to prevailing laws and
regulations. Natural persons present in these countries and in
which this document is disseminated, published, or distributed,
should obtain information about such restrictions, and comply with
Axway (Euronext: AXW.PA) empowers customers to succeed using
hybrid integration to connect people, systems, businesses, and
digital ecosystems. Axway’s hybrid integration platform, Amplify,
helps enterprise power users, IT specialists, developers, and
partners accelerate digital transformation, create captivating
experiences, and innovate new services. Amplify speeds integrations
by combining traditional integration patterns with API Management
and Application Integration (providing over 150 prebuilt
connectors). Over 11,000 organizations in 100 countries rely on
Axway for their data integration challenges. To learn more, visit
version on businesswire.com: https://www.businesswire.com/news/home/20220119005770/en/
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