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Canalys expansion and growth continues
- Turnover increases by 44%, as consulting and events outperform
Singapore and Reading (UK) - Monday, 31 March 2008
For immediate release
Canalys today announced its highest ever operating profits and
the completion of another year of rapid growth. Canalys recorded
2007 revenues of approximately €6.1 million, up from €4.2 million in
2006. Importantly, it also has a consistent track record – from 2004
to 2007 it recorded compound annual growth of 33%. This strong
position provides a great platform for further expansion as it moves
into its second decade.
2007 saw Canalys perform well on many fronts, headlined by
impressive progress in its channels consulting business, which
produced outstanding revenue growth of more than 80%. Other
highlights included a successful first Canalys Channels Forum, the
growth of the Canalys Navigation Forum and the launch of Candefero,
the innovative global channel community web site. Its Asia Pacific
operations also saw rapid progress, particularly in the second half
of the year as a result of strong demand for its mobile service
portfolio, leading to acceleration of headcount plans for the
region.
Steve Brazier, Canalys president and CEO, said, “Our strategy to
diversify in both our geographical reach and our product portfolio,
paid great dividends during 2007 and leaves us well placed to
navigate the troubled economic times of 2008. Our Asia Pacific
business is already reaching breakeven levels and our research shows
that technology adoption will continue to boom there during 2008.
Furthermore we have a good balance of exposure to consumer markets,
through our digital entertainment and mobility services, through to
the large enterprise sector with our work in unified communications
and security. We expect to see some turbulence within parts of the
technology industry this year, but believe our balanced business
positions us for stability.”
In 2007 Canalys generated 53% of its revenues from continuous
services, 2% from presentations and reports and the remaining 45%
from custom consulting and events. Sandy Fitzpatrick, vice
president, continued, “We expect our consulting business to perform
well during any economic slowdown because vendors will have to seek
greater efficiencies and require more robust justification for new
investments. More and more vendors are approaching us systematically
whenever they need support on channel strategy, programmes or
satisfaction. A particular feature of 2007 was our increasing work
within enterprise software channels, and we continue to represent
the de facto standard for managing the complexity of convergent
channels.”
Alan Cardy, vice president of business development, added, “The
Canalys Channels Forum started with a bold new approach for bringing
together the top resellers from EMEA and the premier channel
executives from the vendors. It has already become the single most
important event in the IT channel calendar, with participants from
over 30 countries and support from the biggest brands in the
industry. We will build on that success with significant new
innovations for the next event, which will be announced shortly. The
Canalys Navigation Forum is expanding in 2008 to span the globe and
has been tailored to address the different regions in which the
events will take place. San Francisco, Budapest, Bangalore and
Taipei are the locations and the events will address both the move
into location-based services and emerging market opportunities.”
Externally, the success of Canalys has also been recognised by
Outsell, the leading research and advisory firm for the information
industry, which awarded Canalys one of its four global “Rising Star”
accolades in its annual report: “Market Research and IT & Telecom
Research, Reports & Services: 2007 Market Forecast and Trends”. In
the same report, Outsell ranked Canalys as the 25th largest IT and
Telecom Research company in the world during 2006. Given its growth
in 2007, Canalys expects to be approaching the top 20 when the next
league table is published. Steve Brazier concluded, “2007 was an
exceptional year with which to close our first decade. We are
delighted with the progress we have made, and are proud to have
built such a strong team of people that continues to receive praise
from our clients. In 2008 our ambitions will continue as we launch
more products, enter new regions, build out Candefero and expand our
events division. The first quarter has started strongly, but we know
we will not see the same kind of revenue growth in 2008 as we have
in recent years. This is partly due to seasonality within our events
business, but also because we have prioritised the development of
our infrastructure, where we will make several more announcements
during the year. We then expect to return to more rapid revenue
growth in 2009.”
Note to editors: all financial results are unaudited and given
for guidance only. Canalys.com ltd’s financial year ends December
31. More information regarding Outsell’s report entitled “Market
Research and IT & Telecom Research, Reports & Services: 2007 Market
Forecast and Trends” can be found at
www.outsellinc.com.
About Canalys
Canalys specialises in delivering high quality market data,
analysis and advice to the world’s leading technology vendors. It is
recognised as a key provider of continuous advisory services and
confidential custom projects for marketing managers and strategists
within blue-chip IT, telecoms, navigation and consumer electronics
companies. It has unrivalled expertise in routes to market for all
kinds of high technology products and services in the consumer, SMB
and large enterprise segments, and provides worldwide market data
and trends analysis.
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