{"id":449133,"date":"2021-03-03T02:04:00","date_gmt":"2021-03-03T07:04:00","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=449133"},"modified":"2021-03-03T02:04:00","modified_gmt":"2021-03-03T07:04:00","slug":"avast-plc-full-year-results-for-the-year-ended-31-december-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/avast-plc-full-year-results-for-the-year-ended-31-december-2020\/","title":{"rendered":"Avast plc Full Year Results For The Year Ended 31 December 2020"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">LONDON<\/span>, <span class=\"xn-chron\">March 3, 2021<\/span> \/PRNewswire\/ &#8212; Avast plc (LSE: AVST), together with its subsidiaries (&#8216;Avast&#8217;, &#8216;the Group&#8217; or &#8216;the Company&#8217;), a leading global cybersecurity provider, announces its results for the year ended <span class=\"xn-chron\">31 December 2020<\/span>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/827113\/Avast_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/827113\/Avast_Logo.jpg\" title=\"Avast Logo (PRNewsfoto\/Avast)\" alt=\"Avast Logo (PRNewsfoto\/Avast)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <span class=\"xn-person\">Ondrej Vlcek<\/span>, Chief Executive of Avast, said:<\/p>\n<p>&#8216;The Group delivered another strong year of top line organic growth, high levels of profitability and cash flow generation. Group Adjusted Revenue was <span class=\"xn-money\">$892.9m<\/span>, with organic growth<sup>1<\/sup> of 7.9%, driven by double-digit growth in our Consumer Direct Desktop business.<\/p>\n<p>&#8216;In a year when more people and businesses turned to technology to keep their lives and their work enabled, Avast has played a vital role in safeguarding our customers&#8217; digital data and privacy. I am proud of the way the Company has met the challenge of the pandemic head on, putting our duty to act as a responsible business at the heart of our approach.<\/p>\n<p>&#8216;The core of the Avast business and our fundamental strengths remain unchanged as we continue to effectively leverage the scale and sophistication of our platform in consumer and SMB markets. We are confident in our ability to unlock new growth opportunities, with a commitment to continued product and technological innovation, and a stronger-than-ever customer experience. <\/p>\n<p>&#8216;Underpinned by a strong prior year billings performance, we expect to deliver FY 2021 organic revenue growth in the range of 6 percent to 8 percent.&#8217;<\/p>\n<p>\n        <b>FINANCIAL HIGHLIGHTS<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Adjusted Billings at <span class=\"xn-money\">$922.0m<\/span> up 1.2% at actual rates, with organic growth of 7.1% <\/li>\n<li>Adjusted Revenue at <span class=\"xn-money\">$892.9m<\/span> up 2.3% at actual rates, with organic growth of 7.9% <\/li>\n<li>Consumer Direct Desktop Adjusted Revenue at <span class=\"xn-money\">$699.7m<\/span>, up 10.6% at actual rates, with organic growth of 11.3% <\/li>\n<li>Adjusted EBITDA up 2.6% to <span class=\"xn-money\">$495.5m<\/span>; Adjusted EBITDA margin<sup>2<\/sup> at 55.5%, up 17bps <\/li>\n<li>Adjusted fully diluted earnings per share (&#8216;EPS&#8217;) up 9.8% to <span class=\"xn-money\">$0.35<\/span> (versus <span class=\"xn-money\">$0.32<\/span> at YE 2019) <\/li>\n<li>Proposed final dividend payable in <span class=\"xn-chron\">June 2021<\/span> of 11.2 US cents per share; total dividend for the year of 16.0 US cents per share, up 8.8% <\/li>\n<li>Continued strong cash generation with Unlevered Free Cash Flow up 6.2% to <span class=\"xn-money\">$451.1m<\/span> and Levered Free Cash Flow up 11.9% to <span class=\"xn-money\">$414.3m<\/span><\/li>\n<li>Resilient balance sheet with <span class=\"xn-money\">$215.4m<\/span> of cash and available liquidity<sup>3<\/sup>. Net debt \/ LTM (&#8216;last twelve months&#8217;) Adjusted EBITDA at 1.5x at year end <\/li>\n<li>On a statutory basis, Revenue up from <span class=\"xn-money\">$871.1m<\/span> to <span class=\"xn-money\">$892.9m<\/span>, Operating profit including <span class=\"xn-money\">$25m<\/span> COVID-19 donations paid decreased from <span class=\"xn-money\">$344.6m<\/span> to <span class=\"xn-money\">$335.4m<\/span>, cash flows from operating activities increased from <span class=\"xn-money\">$399.1m<\/span> to <span class=\"xn-money\">$456.5m<\/span>, fully diluted EPS decreased from <span class=\"xn-money\">$0.24<\/span> to <span class=\"xn-money\">$0.16<\/span> mainly due to significant unrealised FX loss arising from Euro denominated loan<\/li>\n<\/ul>\n<p>\n        <b>OPERATIONAL AND STRATEGIC HIGHLIGHTS<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>End of Period desktop customers<sup>4<\/sup> increased strongly by 7.9% to <span class=\"xn-money\">13.6m<\/span>. Average Products per Customer<sup>5<\/sup> up 2.8% and Average Revenue Per Customer<sup>6<\/sup> was up 4.5%, in line with growth guidance of low single-digit and mid-single-digit respectively <\/li>\n<li>Continued successful execution on the global growth strategy, with increases in customer numbers in both established markets and target underpenetrated countries: US up 6%, <span class=\"xn-location\">Italy<\/span> up 13%, <span class=\"xn-location\">Mexico<\/span> up 33%, <span class=\"xn-location\">Brazil<\/span> up 19%, and <span class=\"xn-location\">Russia<\/span> up 6% <\/li>\n<li>Renewed focus on consolidation of the user base around higher quality organically installed users; accelerated momentum in move away from lower value return Pay-Per-Install (PPI) <\/li>\n<li>Sustained expansion of multi-device solutions and more desktop-transacted subscriptions for mobile-enabled products <\/li>\n<li>Good execution on the roadmap for personalised privacy and identity protection, with the release of BreachGuard in the US in H1, and rollout into <span class=\"xn-location\">Europe<\/span> and expansion onto the Mac platform in H2 <\/li>\n<li>Avast Smart Life for 5G launched as the next iteration of Avast&#8217;s smart home proposition <\/li>\n<li>User engagement with Avast Secure Browser remained robust, however the weak advertising environment, caused by the pandemic, acted as a drag on monetisation. The Browser offering was expanded with the release of an iOS version and real-time synchronisation between platforms (PC, Android and iOS)<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($&#8217;m)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">FY 2020<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">FY 2019<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change %<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change %<br \/>(excluding FX)<sup>\u00a0<\/sup><sup>7<\/sup><\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted Billings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">922.0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">911.1<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.2<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.8<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Acquisitions<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">n\/a<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Disposal Managed Workplace (SMB)<sup>\u00a08<\/sup><\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">n\/a<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Discontinued Business<sup>9<\/sup>\u00a0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.2<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">48.9<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(91.4)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(91.4)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjusted Billings excl. Acquisitions, Disposals and<br \/>Discontinued business<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>917.7<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>861.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($&#8217;m)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">FY 2020<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">FY 2019<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change %<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change %<br \/>(excluding FX)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted Revenue<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">892.9<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">873.1<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.3<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.8<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Acquisitions<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.2<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">n\/a<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Disposal Managed Workplace (SMB)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">n\/a<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Discontinued Business<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.1<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">45.0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(88.6)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(88.6)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjusted Revenue excl. Acquisitions, Disposals and <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Discontinued business<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>887.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>827.2<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7.3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($&#8217;m)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">FY 2020<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">FY 2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change %<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">495.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">483.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.6<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA Margin %<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.2 ppts<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted Net Income<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">360.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">322.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11.8<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net Debt <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">725.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">884.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18.0)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>Statutory Results:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($&#8217;m)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">FY 2020<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">FY 2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change %<sup>11<\/sup><\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenue <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">892.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">871.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.5<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating profit<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">335.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">344.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.7)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net Income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">169.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">248.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(31.8)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net Cash Flows from operating activities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">456.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">399.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14.4<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>OUTLOOK<\/b>\n      <\/p>\n<p>We remain confident that the fundamental strengths of the business model and culture of driving performance will sustain our track record of delivering good growth and profitability.<\/p>\n<p>Underpinned by a strong prior year billings performance that will be supportive of revenue in the first half of the current year, we expect to deliver FY 2021 organic revenue growth in the range of 6 percent to 8 percent. Organic billings growth for the year is expected to be at the lower end of this range and heavily weighted toward the second half, due in part to the strong baseline comparison in the second quarter of last year. The Group&#8217;s transition to 1-year subscriptions to increase customer lifetime value will also exert downward pressure on billings particularly in the first half.<\/p>\n<p>Adjusted Group EBITDA margin is expected to remain broadly flat versus FY 2020, despite an increase to operating costs from the Company&#8217;s planned on-premises to cloud migration and higher wage inflation. The Group will sustain strong organic cash generation, with benefits to cash flow anticipated from reduced capex requirements on data centres, and lower interest costs following additional loan repayment last year.<\/p>\n<p>\n        <b>PRESENTATION OF RESULTS<\/b>\n      <\/p>\n<p>A live webcast presentation and conference call for analysts and investors will be held at <span class=\"xn-chron\">9:00 AM GMT<\/span> today (<span class=\"xn-chron\">3 March 2021<\/span>). Please register for the call or webcast on the Company website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3084589-1&amp;h=1265901574&amp;u=https%3A%2F%2Finvestors.avast.com%2F&amp;a=https%3A%2F%2Finvestors.avast.com\" rel=\"nofollow noopener noreferrer\">https:\/\/investors.avast.com<\/a>. A Q&amp;A facility will be available for conference call participants. <\/p>\n<p>\n        <b>PUBLICATION OF ANNUAL REPORT<\/b>\n      <\/p>\n<p>The Company today published its Annual Report and Accounts 2020. The document will be available to view on the Company website at <a href=\"https:\/\/investors.avast.com\" rel=\"nofollow\">https:\/\/investors.avast.com<\/a> and is also being submitted to the National Storage Mechanism for inspection at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3084589-1&amp;h=1497615477&amp;u=http%3A%2F%2Fwww.morningstar.co.uk%2Fuk%2Fnsm&amp;a=www.morningstar.co.uk%2Fuk%2Fnsm\" rel=\"nofollow noopener noreferrer\">www.morningstar.co.uk\/uk\/nsm<\/a>. <\/p>\n<p>For full details of the release, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3084589-1&amp;h=3600622323&amp;u=https%3A%2F%2Finvestors.avast.com%2F&amp;a=investors.avast.com\" rel=\"nofollow noopener noreferrer\">investors.avast.com<\/a><\/p>\n<p>ENQUIRIES<\/p>\n<p>Investors and analysts:<br \/><span class=\"xn-person\">Peter Russell<\/span>, Director of IR<br \/><u><a target=\"_blank\" href=\"mailto:IR@avast.com\" rel=\"nofollow noopener noreferrer\">IR@avast.com<\/a><\/u><\/p>\n<p>Media:<br \/><span class=\"xn-person\">Stephanie Kane<\/span>, VP PR and Corporate Communications<br \/><u><a target=\"_blank\" href=\"mailto:mediarelations@avast.com\" rel=\"nofollow noopener noreferrer\">mediarelations@avast.com<\/a><\/u><\/p>\n<p>Tavistock <br \/>+44 20 7920 3150<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF96908&amp;sd=2021-03-03\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/avast-plc-full-year-results-for-the-year-ended-31-december-2020-301239117.html\">http:\/\/www.prnewswire.com\/news-releases\/avast-plc-full-year-results-for-the-year-ended-31-december-2020-301239117.html<\/a><\/p>\n<p>SOURCE  Avast<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=SF96908&amp;Transmission_Id=202103030200PR_NEWS_USPR_____SF96908&amp;DateId=20210303\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire LONDON, March 3, 2021 \/PRNewswire\/ &#8212; Avast plc (LSE: AVST), together with its subsidiaries (&#8216;Avast&#8217;, &#8216;the Group&#8217; or &#8216;the Company&#8217;), a leading global cybersecurity provider, announces its results for the year ended 31 December 2020. Ondrej Vlcek, Chief Executive of Avast, said: &#8216;The Group delivered another strong year of top line organic growth, high levels of profitability and cash flow generation. Group Adjusted Revenue was $892.9m, with organic growth1 of 7.9%, driven by double-digit growth in our Consumer Direct Desktop business. &#8216;In a year when more people and businesses turned to technology to keep their lives and their work enabled, Avast has played a vital role in safeguarding our customers&#8217; digital data and privacy. I am proud of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/avast-plc-full-year-results-for-the-year-ended-31-december-2020\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Avast plc Full Year Results For The Year Ended 31 December 2020&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-449133","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Avast plc Full Year Results For The Year Ended 31 December 2020 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/avast-plc-full-year-results-for-the-year-ended-31-december-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avast plc Full Year Results For The Year Ended 31 December 2020 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire LONDON, March 3, 2021 \/PRNewswire\/ &#8212; Avast plc (LSE: AVST), together with its subsidiaries (&#8216;Avast&#8217;, &#8216;the Group&#8217; or &#8216;the Company&#8217;), a leading global cybersecurity provider, announces its results for the year ended 31 December 2020. Ondrej Vlcek, Chief Executive of Avast, said: &#8216;The Group delivered another strong year of top line organic growth, high levels of profitability and cash flow generation. Group Adjusted Revenue was $892.9m, with organic growth1 of 7.9%, driven by double-digit growth in our Consumer Direct Desktop business. &#8216;In a year when more people and businesses turned to technology to keep their lives and their work enabled, Avast has played a vital role in safeguarding our customers&#8217; digital data and privacy. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/avast-plc-full-year-results-for-the-year-ended-31-december-2020\/","og_locale":"en_US","og_type":"article","og_title":"Avast plc Full Year Results For The Year Ended 31 December 2020 - Market Newsdesk","og_description":"PR Newswire LONDON, March 3, 2021 \/PRNewswire\/ &#8212; Avast plc (LSE: AVST), together with its subsidiaries (&#8216;Avast&#8217;, &#8216;the Group&#8217; or &#8216;the Company&#8217;), a leading global cybersecurity provider, announces its results for the year ended 31 December 2020. Ondrej Vlcek, Chief Executive of Avast, said: &#8216;The Group delivered another strong year of top line organic growth, high levels of profitability and cash flow generation. Group Adjusted Revenue was $892.9m, with organic growth1 of 7.9%, driven by double-digit growth in our Consumer Direct Desktop business. &#8216;In a year when more people and businesses turned to technology to keep their lives and their work enabled, Avast has played a vital role in safeguarding our customers&#8217; digital data and privacy. I am proud of &hellip; Continue reading \"Avast plc Full Year Results For The Year Ended 31 December 2020\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/avast-plc-full-year-results-for-the-year-ended-31-december-2020\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-03T07:04:00+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/827113\/Avast_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avast-plc-full-year-results-for-the-year-ended-31-december-2020\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avast-plc-full-year-results-for-the-year-ended-31-december-2020\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Avast plc Full Year Results For The Year Ended 31 December 2020","datePublished":"2021-03-03T07:04:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avast-plc-full-year-results-for-the-year-ended-31-december-2020\/"},"wordCount":1042,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avast-plc-full-year-results-for-the-year-ended-31-december-2020\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/827113\/Avast_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avast-plc-full-year-results-for-the-year-ended-31-december-2020\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/avast-plc-full-year-results-for-the-year-ended-31-december-2020\/","name":"Avast plc Full Year Results For The Year Ended 31 December 2020 - 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