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Continued investments for growth and solid progress in Europe

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Cognosec AB (publ) (“Cognosec” or “The Company”), a leading supplier of solutions within Cyber Security with operations in Europe, Africa and the Middle East, today announces its first nine month report for 2016.

The third quarter showed continued underlying revenue growth in key areas with revenues of EUR 3.3m, up 3% on the previous quarter, despite deferral of two major contracts into Q4 2016. The newly created European businesses showed good progress with revenues of EUR630k in the quarter. Further investment in resources and headcount was made to meet demand. Headcount rose 28% versus the previous year.

  • Revenues in the third quarter grew to EUR 3.3m, up 3% compared to previous quarter
  • European operations began revenue generation: EUR 630k in the third quarter
  • Two major contracts expected in Q3 rolled into Q4 2016
  • Gross profit margin for the quarter improved to 38% (Q3 2015: 33%)
  • Resources and headcount grew substantially to meet demand  
  • Q3 Group Operating loss amounted to EUR1.37m (Q3 2015: profit EUR 1.00m) 
  • Earnings per share for Q3 2016 amounted to EUR -0.0048 (Q3 2015 EUR 0.0041)*
  • The Group employed 107 people (Q3 2015: 83) at the end of the period, up 29 %
  • The Group remained debt free and had EUR 1.98m in cash and cash equivalents at the end of the period

*Result per share refers to result per share atributable to equity owners of the parent company. There is no potential dilutive effect on the earnings per share.

This interim report is a translation of the original interim report, which was submitted in Swedish. In any and all legal considerations, the interim report in Swedish serves as Cognosec AB (Publ) official report. 

Certified Adviser

Mangold Fondkommission AB is the Company’s Certified Adviser.

Telephone: +46 (0)8 5030 1550

E-mail: info@mangold.se

FOR MORE INFORMATION, PLEASE CONTACT:

Magnus Stuart

IR-contact, Cognosec AB

Email: magnus.stuart@cognosec.com

This information is information that Cognosec AB is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 18 October, 2016, at 14.00 CET.

ABOUT COGNOSEC

Cognosec AB (publ) is engaged in Cyber Security solutions and conducts its operations through the Swedish parent company and through subsidiaries in South Africa, UK, Kenya, and the United Arab Emirates. The Group delivers services and technology licences to enhance clients’ protection against unwanted intrusion and to prevent various forma of information theft. The parent company is domiciled in Stockholm, Sweden. Cognosec employs 110 people and had revenues of EUR 16.8 million in 2015. Visit www.cognosec.se for more information.

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