Latest news with #Westcon-Comstor
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
Channel Post MEA
21-05-2025
- Business
- Channel Post MEA
Westcon-Comstor And Ericsson Announce Distribution Agreement
Westcon-Comstor announced a new collaboration with Ericsson that aims to enhance enterprises' connectivity and unlock growth opportunities for channel partners. The distribution agreement covers Europe, Middle East and Africa (EMEA) and will see Westcon accelerate adoption of Ericsson's Enterprise Wireless Solutions by working with its network of technology resellers, systems integrators and service providers across the region. Ericsson's Enterprise Wireless Solutions enable organisations to innovate, operate, and grow anywhere without constraints. Ericsson NetCloud, Cradlepoint routers, and Enterprise 5G solutions provide the flexibility of public and private 5G, with the zero-trust security of simplified SASE. As part of the collaboration, Westcon will deploy its suite of value-added services spanning education, data-led insights, training and enablement to drive partner growth, empowering partners to leverage the Ericsson Enterprise Wireless Solutions portfolio to full effect. 'Ericsson's Enterprise Wireless Solutions fuel innovation and growth, and we are excited to play an important role in driving their adoption around EMEA,' said Daniel Hurel, Senior Vice President, Westcon EMEA Go-To-Market at Westcon-Comstor. 'This collaboration unlocks exciting new growth opportunities for partners and adds an extra dimension to our networking technology portfolio within the region. We look forward to deploying our value-added services to empower and enable partners, equipping them with additional capabilities as they bring the benefits of the Ericsson Enterprise Wireless Solutions portfolio to their customers.' 'With the increased speed and decreased latency of 5G, businesses are now looking at 5G as not only a viable alternative to wires but also to innovate and transform their business,' said Julie Hens, Senior Vice President, Global Distribution Partners at Ericsson. 'Westcon is an excellent business partner for our shared solution providers in supporting customers who are on this transformation path.' 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
Channel Post MEA
28-04-2025
- Business
- Channel Post MEA
Westcon-Comstor Achieves Twin Zscaler Data Security Recognition
Westcon-Comstor has become the first distributor in the world to earn Zscaler Partner Delivery Specialisation in data security across both sales and deployment. The recognition highlights Westcon-Comstor's dedication to delivering cutting-edge zero trust solutions and securing sensitive customer data across all environments. The Zscaler Partner Specialisation programme validates partners with advanced technical expertise and a proven ability to implement Zscaler's unified, AI-powered data protection solutions. By securing data security specialisation in both sales and deployment in EMEA (Europe, Middle East and Africa), Westcon-Comstor has achieved a global industry first in distribution. In doing so, the distributor has demonstrated its commitment to equipping channel partners and their customers across the region with intelligent data security that follows users, applications and cloud services everywhere. With Zscaler's advanced platform, Westcon-Comstor helps partners combat data loss, simplify operations, strengthen security, and ensure compliance, even in complex AI-driven environments. 'Data security is more important than ever, so to see our technical expertise and delivery capabilities recognised by Zscaler is very rewarding,' said Daniel Hurel, Senior Vice President, Westcon EMEA Go-To-Market at Westcon-Comstor. 'We are particularly proud to mark the industry first within distribution in EMEA. As a trusted distribution partner of Zscaler, we will continue to drive adoption of Zscaler's data protection solutions, unlocking growth opportunities for channel partners in the process.' 'Partners like Westcon-Comstor are instrumental in delivering modern data security solutions that adapt to today's rapidly changing digital landscape,' said Anthony Torsiello, Senior Vice President, Worldwide Partners and Alliances at Zscaler. 'Their achievement ensures customers can trust their expertise in deploying Zscaler's data protection capabilities to secure data everywhere it resides.' 0 0
