Latest news with #RakeshParbhoo
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
Channel Post MEA
19-05-2025
- Business
- Channel Post MEA
Westcon-Comstor Certified As Great Place To Work In Five MEA Countries
Westcon-Comstor has announced that it has been Certified by Great Place To Work in five countries across the Middle East and Africa (MEA) region. The recognition highlights Westcon-Comstor's welcoming, inclusive and people-centric culture and reaffirms its position as an employer of choice within the IT channel. Great Place To Work is the global authority on workplace culture, employee experience and the leadership behaviours proven to deliver market-leading revenue, employee retention and increased innovation. Whether a company achieves certification is based entirely on what current employees say about their experience. This is the first time that Westcon-Comstor, which employs more than 3,600 people around the world, has sought and achieved Great Place To Work certification. It is now certified in 27 countries globally, including the following five in the MEA region: Kenya, Nigeria, Saudi Arabia, South Africa and UAE. Across the five MEA countries in which certification was achieved, an average of 83% of employees described Westcon-Comstor as a great place to work compared to a global average of 80%. Globally, the company achieved a Trust Index of 77% based on a higher-than-average response rate of 89%. The vast majority of Westcon-Comstor employees (85%) globally expressed pride in their work and the company, with an even higher proportion stating that they and their colleagues are treated fairly. Other strengths highlighted by employees include a strong sense of flexibility and autonomy, coupled with confidence in the leadership team. 'This is a proud moment for our business, one which illustrates our success in creating a truly people-centric culture across the MEA region,' said Rakesh Parbhoo, Executive Vice President, Middle East and Africa at Westcon-Comstor. 'We have strived to foster a workplace environment in which people feel valued, safe, fulfilled and able to be themselves. This recognition from Great Place to Work is a fantastic demonstration of the progress we have made.' 'We are thrilled to achieve Great Place To Work Certification in so many countries at the first time of asking', said Erna de Ruijter-Quist, Chief People Officer at Westcon-Comstor. 'We are very proud of the recognition. It is testament to the great culture which has been built over the years. We are equally clear that this is just the beginning. The real work starts now as we evaluate what our people have told us and make further improvements to our employee experience. We continually strive to make Westcon-Comstor an even better place to work and one where our people can thrive.' 'Great Place To Work Certification is a highly coveted achievement that requires consistent and intentional dedication to the overall employee experience,' said Sarah Lewis-Kulin, Vice President of Global Recognition at Great Place To Work. 'By successfully earning this recognition, it is evident that Westcon-Comstor stands out as one of the top companies to work for, providing a great workplace environment for its employees.' According to Great Place To Work research, job seekers are 4.5 times more likely to find a great boss at a Certified great workplace. Additionally, employees at Certified workplaces are 93% more likely to look forward to coming to work, and are twice as likely to be paid fairly, earn a fair share of the company's profits and have a fair chance at promotion. 0 0
Tahawul Tech
21-03-2025
- Business
- Tahawul Tech
AWS Marketplace program Archives
Rakesh Parbhoo, Executive Vice President, Westcon-Comstor MEA, discusses the impact of their partnership with Cisco for the channel and how they are included in the AWS Marketplace program.
Tahawul Tech
21-03-2025
- Business
- Tahawul Tech
Comstor's partners can now access Cisco's outstanding technology portfolio through AWS Marketplace
Rakesh Parbhoo, Executive Vice President, Westcon-Comstor MEA, highlights what their partnership with Cisco & AWS Marketplace means for the channel. Q: Can you tell us about Comstor and Cisco's partnership with AWS Marketplace? A: Comstor has maintained a long-standing partnership with Cisco. Recently, Westcon-Comstor was awarded the DSOR agreement with AWS, enabling us to privately list our vendors' products on AWS Marketplace and share quotes with our channel partners. Given our decades-long relationship with Cisco, it is not surprising that they are among the first vendors included in Westcon-Comstor's AWS Marketplace program. We can now list Cisco's cybersecurity, observability, networking, and collaboration-focused software products on AWS Marketplace. Q: What does this partnership mean for the channel? A: End-user buyer behaviour is evolving rapidly. An increasing number of end users want to procure in AWS Marketplace thanks to the flexibility and pre-defined budgets it offers. At Westcon-Comstor, we're committed to enabling partners to sell where their customers want to buy. The partnership with AWS Marketplace allows us to meet this objective. By providing our partners with the ability to access Cisco's outstanding technology portfolio through AWS Marketplace, we are establishing a new platform that will foster growth and scalability throughout the value chain. Overall, this agreement with AWS presents a unique opportunity to strengthen the position of the channel in the cloud marketplace ecosystem while also allowing new growth opportunities for our partners and vendors. Image Credit: Westcon-Comstor
