Latest news with #DavidGrant
Techday NZ
2 days ago
- Business
- Techday NZ
Westcon-Comstor hits record USD $5.24 billion sales in FY25
Westcon-Comstor has reported record gross sales of USD $5.24 billion for the financial year ended 28 February 2025, driven by growth in its cybersecurity division and a continued focus on software and services. This represents a 3.3% increase from its prior year's gross sales of USD $5.08 billion. The company also saw a rise in gross profit, which climbed 9.4% to USD $441 million, compared to USD $403 million in the previous year. Gross margin improved to 22.4% on total revenue of USD $1.97 billion, up from 18.2% for the prior year, as restated to reflect changes in accounting treatment. Adjusted EBITDA for the period reached USD $149.9 million, a nearly 25% increase from USD $120.2 million in the previous year. The adjusted EBITDA margin also saw an increase to 7.6%, up from 5.4%. Cybersecurity products and solutions were major contributors to the company's results, with gross sales in this area rising 19.3% year-on-year. Cybersecurity accounted for 51% of Westcon-Comstor's total gross sales in FY25. The company attributed this growth to expanded partnerships with cybersecurity vendors and the expansion of value-added offerings such as data, enablement, and education programmes. The company's shift from traditional hardware distribution towards software, cloud, and recurring revenue models continued. Hardware accounted for just 32% of total gross sales, while software sales increased 22.2% to USD $2.33 billion. Software now represents 44% of overall gross sales, up from 38% a year ago. Recurring sales – primarily those derived from software and service subscriptions – now comprise 66% of gross sales, compared to 60% last year. Westcon-Comstor highlighted this as part of a broader strategy to adopt recurring revenue models and solution lifecycle selling, reflecting a transformation trajectory shared with many of its vendors and channel partners. The company also reported deepened relationships with its core group of nine main vendors across cybersecurity, networking, and cloud. These vendors accounted for USD $4.20 billion of gross sales, representing 80% of the company's total for the year and marking year-on-year growth of 4.9%, which outpaced overall gross sales growth. Chief Executive Officer David Grant commented on the results: "I'm thrilled to mark another year of exceptional financial and operational performance, with strong progress against our core strategic objectives and a continued relentless focus on delivering partner success. Distribution is evolving and we're proud to be at the forefront of this change, enabling partners and vendors to grow through our suite of value-added services and market-leading programmes. "In a changing world, we are proud to be a future-ready business that combines best-in-class data and digital platforms with deep relationships, leading market shifts and anticipating change to empower our partners and vendors to stay ahead of the curve. I'd like to pay tribute to our 3,700-plus employees around the world for their dedication and creativity. Without our people and the ambitious culture they embody, results like this wouldn't be possible." Chief Financial Officer and Chief Operating Officer Callum McGregor added: "With strong fundamentals and positive performance across key metrics, FY25 saw us maintain the growth trajectory that has characterised our business for the best part of a decade. Despite the challenging backdrop of geopolitical and macroeconomic uncertainty, FY26 offers opportunities for further growth thanks to our healthy sales pipeline, track record of innovation and strong relationships with partners and vendors." The FY25 financials reflect Westcon-Comstor's efforts to align with ongoing changes in technology consumption and delivery models, as the company continues its move from hardware towards software and recurring subscription-based solutions.
Channel Post MEA
4 days ago
- Business
- Channel Post MEA
Westcon-Comstor Announces Record Annual Sales Of US $5.24 Billion
The gross sales figure for the year ended 28 February 2025 (FY25) represents a 3.3% year-on-year increase (FY24: $5.08bn). Gross profit jumped 9.4% to $441 million (FY24: $403m), with strong and consistent growth in profitability in each of Westcon-Comstor's three operating regions: Europe, Middle East and Africa (MEA) and Asia-Pacific (APAC). Gross margin rose to 22.4% (FY24: 18.2%) on revenue of $1.97bn. Adjusted EBITDA increased by nearly 25% to $149.9m (FY24: $120.2m), with a further improvement in adjusted EBITDA margin to 7.6% (FY24: 5.4%). Gross sales from cybersecurity increased 19.3% year-on-year and accounted for more than half (51%) of Westcon-Comstor's gross sales in FY25. Growth was fuelled by an expansion of collaborations with cybersecurity vendors and the success of the distributor's value-added offerings for partners and vendors, spanning data, enablement and education. Hardware now accounts for just a third (32%) of gross sales as Westcon-Comstor accelerates its transition away from traditional hardware towards recurring revenues based on annual subscriptions and cloud-based Software as a Service (SaaS) models. Gross sales from software increased 22.2% to $2.33bn (FY24: $1.91bn), with software making up 44% of gross sales (FY24: 38%). Recurring sales, for example from software and services, now represent 66% of gross sales (FY24: 60%), as Westcon-Comstor embraces solution lifecycle selling and moves to a recurring revenue model in line with the transformation journey being pursued by its partners and vendors. FY25 also saw the distributor deepen relationships with core vendors across cybersecurity, networking and cloud, with a focus on delivering even greater value by increasing distribution-led sales. This group of nine vendors accounted for 80% of gross sales during the year at $4.20bn, with year-on-year growth of 4.9% outstripping overall gross sales growth. 'I'm thrilled to mark another year of exceptional financial and operational performance, with strong progress against our core strategic objectives and a continued relentless focus on delivering partner success,' said David Grant, CEO at Westcon-Comstor. 'Distribution is evolving and we're proud to be at the forefront of this change, enabling partners and vendors to grow through our suite of value-added services and market-leading programmes. In a changing world, we are proud to be a future-ready business that combines best-in-class data and digital platforms with deep relationships, leading market shifts and anticipating change to empower our partners and vendors to stay ahead of the curve. I'd like to pay tribute to our 3,700-plus employees around the world for their dedication and creativity. Without our people and the ambitious culture they embody, results like this wouldn't be possible.' 'FY25 was a year of strong progress for Westcon-Comstor in the Middle East and Africa (MEA) region,' said Rakesh Parbhoo, Executive Vice President, Middle East and Africa at Westcon-Comstor. 'Locally we saw an increase in profitability as our data-driven strategy and unique range of value-added services continued to bear fruit. With talented people across the region, a strong vendor portfolio and expertise in high-growth technology domains, we can look ahead with confidence to FY26 and the longer-term future.' 'With strong fundamentals and positive performance across key metrics, FY25 saw us maintain the growth trajectory that has characterised our business for the best part of a decade,' said Callum McGregor, Chief Financial Officer and Chief Operating Officer at Westcon-Comstor. 'Despite the challenging backdrop of geopolitical and macroeconomic uncertainty, FY26 offers opportunities for further growth thanks to our healthy sales pipeline, track record of innovation and strong relationships with partners and vendors.' 0 0
Forbes
19-05-2025
- Business
- Forbes
Four Ways Enterprises Can Leverage IT For Cloud Success In 2025
David Grant is CEO at Westcon-Comstor, a global technology distributor specialising in cybersecurity, networking and cloud. Cloud technology has transformed how enterprises operate, accelerating digital transformation and unlocking new levels of scalability, flexibility and innovation. The cloud revolution shows no sign of stalling, either. Quite the opposite. According to a recent Gartner forecast, worldwide end-user spending on public cloud services will rise 21.5% to hit $723 billion this year, driven by increasing GenAI adoption. The analyst predicts that 90% of enterprises will adopt a hybrid cloud approach by 2027. Despite this growth, enterprises are facing major practical, operational and financial challenges on a micro level. From migrating workloads to optimising costs and more broadly deciding on a cloud strategy, business leaders are facing headaches on multiple fronts. Many, it seems, are turning to the IT channel for help. As a technology supply chain consisting of value-added resellers, managed service providers, system integrators and distributors, this mini-sector is playing an increasingly central role in the cloud economy. The evolution in the IT channel's relationship with cloud is the subject of my company's Mastering the Maze research report, which asked channel partners in eight countries about the challenges facing them and their customers as they look to capitalise on the benefits of cloud. Here are four key areas in which business leaders can harness the IT channel to improve cloud outcomes. The cloud skills shortage is well documented, with enterprises and SMBs alike struggling to attract and retain in-house talent. Against this backdrop, it's perhaps unsurprising that many organisations are looking to partners to provide the requisite technical expertise. The research suggests that 69% of end-user businesses prioritise specialist skills and expertise when choosing a cloud partner. Finding a reseller or MSP that fits the bill on skills can be a game-changer for the modern enterprise. A partner with genuine expertise can serve as a trusted advisor through a long-term collaboration covering all stages of your cloud journey. Many channel partners offer training, education and enablement services to customers, providing opportunities to upskill and gain deeper insights on specific products and solutions. The growing importance of cloud security in the tech ecosystem is emerging as a dominant theme of 2025. Heightened awareness can be detected in our research, which found that businesses value cloud security services above all else when selecting a channel partner. Data privacy and protection, security of cloud interfaces and Identity Access Management (IAM) emerged as the top three focus areas. Separate Westcon-Comstor research earlier this year found that Chief Information Security Officers (CISOs) are planning to ramp up cloud security spending in 2025 and want channel partners to help them maximise their return on investment. 83% of security leaders intend to invest in Cloud-Native Application Protection Platform (CNAPP) and other cloud security technologies, and 95% already engage with channel partners when procuring and deploying such solutions. The rise of hyperscaler cloud marketplaces is reshaping how enterprises procure and deploy software. From shortened procurement cycles to reductions in administration and improved transparency on pricing and spend, these platforms are offering users new levels of simplicity. After an uncharacteristically slow start, the IT channel has woken up to the marketplace opportunity and now stands ready to guide customers in getting the most out of these platforms. In fact, a recent Canalys report projected that more than 50% of hyperscaler marketplace sales will come via channel partners by 2027. This growth potential for channel partners explains why, according to our research, 71% have a positive outlook on hyperscaler marketplaces and 75% are actively using them, seeing them as an opportunity. Partners with the expertise to guide their enterprise customers through the idiosyncrasies and nuances of different marketplaces will be in demand in the coming years, as enterprises seek input and guidance. As Canalys states: 'Channel partners will become increasingly important to hyperscaler marketplace momentum, as vendors prioritise partner-led strategies and customers turn to partners to help them manage marketplace procurement.' With cloud adoption accelerating, businesses are facing complex pricing, hidden costs and fears of budget overruns. Cost management and budgeting are among the biggest challenges facing businesses as they move to the cloud. Saving money, improving visibility of cloud spending and avoiding unexpected expenses were flagged as some of the most prized FinOps outcomes. Channel partners can play a key role in helping their customers to achieve FinOps success, for example, by mastering cloud service providers' often complex pricing models. Whatever stage you are at in your cloud journey, engaging with IT channel partners offers many advantages. From upskilling through training and enablement to gaining insights on achieving FinOps success, the channel has the power to accelerate your progress. As organizations look to deploy AI solutions within their businesses, they will need to have control over their data. Many will lack well-structured controls around consolidation, architecture and governance, driving greater demand for the channel to provide data migration into the cloud and requiring additional security and network architecture considerations. That's not to say that channel partners have themselves fully mastered the cloud maze. Many are grappling with their own challenges. But with 93% of partners stating a determination to further develop their cloud capabilities, and a clear demand from customers, we are on the cusp of a paradigm shift in the channel's cloud relationship with enterprises. This new dynamic has the potential to be mutually beneficial, enabling enterprises to realise the transformative power of cloud while creating a new growth frontier for the IT channel. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Associated Press
15-05-2025
- Business
- Associated Press
Spring Forward: BIER's Collective Progress on Climate, Water, and Circularity
As spring awakens across the Northern Hemisphere and the season turns toward growth, so too does BIER's momentum as a coalition. BIER members began 2025 with a renewed commitment to agility, collaboration, and measurable progress across its five core pillars: water, climate, reporting, circularity, and nature/biodiversity. From leadership transitions to groundbreaking innovation, this quarter marks a powerful beginning and a strategic alignment with BIER's long-term vision. The following highlights showcase the work and impact of BIER members during the first quarter of 2025. Leadership in Action: BIER's Chair and Co-Chair for 2025 Strategic leadership remains central to BIER's ability to navigate complexity and accelerate progress. In 2025, that leadership is embodied by two individuals deeply committed to collaboration and impact. Meet Nicolas Clerget, 2025 BIER Chair As the global sustainability landscape becomes more complex, strong and pragmatic leadership is critical. Nicolas Clerget of The HEINEKEN Company brings strategic clarity and deep climate expertise to his role as 2025 BIER Chair, reinforcing our mission to drive collective impact across the beverage industry. 'BIER brings together the beverage industry's collective expertise to create shared value. That spirit is rare and incredibly powerful.' – Nicolas Clerget Meet David Grant, 2025 BIER Co-Chair David Grant of PepsiCo joins as Co-Chair, bringing a systems-based perspective to sustainability. His leadership ensures that BIER remains agile and responsive as members tackle interconnected challenges in water, climate, and biodiversity. 'Sustainability is not linear—it's interconnected. That integrated perspective will help us prioritize effectively while staying adaptable.' – David Grant GHG Emissions Sector Guidance: Version 4.3 As part of its commitment to driving standardized, science-aligned climate action, BIER released Version 4.3 of the Beverage Industry Greenhouse Gas (GHG) Emissions Sector Guidance —a crucial resource for beverage companies seeking to improve their emissions accounting and disclosure practices. This latest update reflects BIER's role in aligning the industry with evolving global standards while ensuring practical applicability across value chains. Version 4.3 introduces several key refinements, including: SBTiISSBCSRD Version 4.3 builds on the globally recognized foundation established in earlier versions and supports consistent, transparent reporting that drives progress toward net-zero commitments and science-based targets. BIER's Cool Challenge 2025 Building on the momentum of the GHG Emissions Sector Guidance: Version 4.3, BIER continues to spotlight practical pathways to decarbonization across the value chain. One such opportunity lies in an often-overlooked emissions source: refrigeration. Revolutionizing commercial refrigeration for chilled beverages—this was the mission with the 2025 Cool Challenge, and the results spoke volumes. The competition highlighted innovation in energy efficiency, circularity, and sustainable design, underscoring the crucial role of refrigeration manufacturers and component suppliers in climate-smart transformation. Congratulations to the 2025 Cool Challenge Winners: ImberaMetalfrio SolutionsLEAF PolyolCoolR GroupHuayi Compressor Co., Ltd This wasn't just a competition; it was a call to action. From legislative alignment to total cost of ownership insights, the Cool Challenge sparked real momentum that will ripple across the industry for years to come. Regulatory Roundup: Tracking Global Shifts in Sustainability Reporting BIER's Regulatory Roundup is a member-only forum providing quarterly updates on emerging ESG reporting regulations through a dedicated newsletter and virtual sessions. These updates spotlight key changes to existing and upcoming regulations, best practices, and opportunities for member input. In BIER's latest session, members explored the EU's Omnibus package, updates to CSRD, CSDDD, and the EU Taxonomy, alongside global alignment efforts under ISSB/IFRS. As jurisdictions move from voluntary to mandatory frameworks, BIER members continue to collaborate on how best to adapt internal systems, prioritize data strategies, and manage resources efficiently. These exchanges are a hallmark of the BIER experience—shared intelligence for complex times. Ad Hoc Sessions BIER's Ad Hoc Sessions provide a flexible, discussion-driven platform designed to address urgent or emerging issues relevant to the beverage industry. These member-only virtual gatherings enable BIER members to exchange ideas and collaboratively solve problems in response to new developments and industry challenges. By focusing on timely topics, these sessions support rapid knowledge sharing and actionable strategies to sustain BIER's leadership in environmental stewardship. In February, BIER convened members from seven global beverage companies for an Ad Hoc Session focused on Climate Transition Plans, exploring the role not just for compliance, but for competitive advantage. Key takeaways included: TPTFTCFD The conversation reinforced that climate transition planning is no longer optional—it's a strategic imperative. In April, BIER members gathered to address the sweeping changes under the new EU Packaging and Packaging Waste Regulation (PPWR)—a legislative shift redefining how packaging is designed, labeled, reused, and regulated. Key insights included: BIER's role in facilitating peer insight and readiness in this evolving landscape remains a cornerstone of its impact. Looking Ahead: What Spring Growth Means for BIER From energizing leadership to boundary-pushing innovation and complex regulatory shifts, BIER's first quarter of 2025 reflects a coalition in action. The BIER Spring Member Meeting, taking place from May 20 to 22, 2025, in Seville, Spain, and graciously hosted by BIER member Heineken, continues to build on this strong foundation, propelling the coalition forward with accelerated momentum well into the second quarter of 2025. This in-person gathering will bring together sustainability leaders from across the global beverage industry to explore a range of technical topics, including: As BIER members convene in Seville, the emphasis remains on collaborative problem-solving and technical excellence, hallmarks of BIER's approach. BIER values its membership base, which reflects the diversity and expertise of the global beverage industry, drawing insights from companies across the entire value chain. From brewers and distillers to non-alcoholic beverage producers, BIER members bring deep knowledge and unwavering commitment to solving the most pressing environmental challenges of our time. As such, when we work together, we go further. These cross-sector partnerships not only advance technical progress but also raise stakeholder awareness, build trust with consumers, and promote sustainable solutions that benefit both the industry and the environment. As the rest of 2025 unfolds, the energy from the previous quarters sets the tone: one of momentum, innovation, and purposeful collaboration. We look forward to what's next—and to continuing this shared journey toward a more sustainable beverage sector. Visit 3BL Media to see more multimedia and stories from Beverage Industry Environmental Roundtable
Business Insider
15-05-2025
- Business
- Business Insider
Taylor Collison Keeps Their Buy Rating on Catalyst Metals Limited (CYL)
Taylor Collison analyst David Grant CFA maintained a Buy rating on Catalyst Metals Limited (CYL – Research Report) on May 12 and set a price target of A$6.43. The company's shares opened today at A$6.44. Confident Investing Starts Here: Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter In addition to Taylor Collison, Catalyst Metals Limited also received a Buy from Canaccord Genuity's Tim McCormack in a report issued yesterday. However, on April 29, Bell Potter downgraded Catalyst Metals Limited (ASX: CYL) to a Hold. Based on Catalyst Metals Limited's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$224.1 million and a net profit of A$46.29 million. In comparison, last year the company earned a revenue of A$133.81 million and had a GAAP net loss of A$4.08 million
