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    AFRY   SE0005999836

AFRY AB

(AFRY)
  Report
Real-time Estimate Cboe Europe  -  09:01:45 2023-05-29 am EDT
171.45 SEK   -1.24%
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05/24Sectra and AFRY form partnership to strengthen cybersecurity in critical infrastructure
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Sectra and AFRY form partnership to strengthen cybersecurity in critical infrastructure

05/24/2023 | 02:46am EDT

Linköping - May 24, 2023 - International cybersecurity and medical imaging IT company Sectra (STO: SECT B) and engineering consulting company AFRY have come together to offer a complete and flexible security solution for operational technology (OT) systems in critical infrastructure and other operations essential to society. The partnership creates a strong offering in a market characterized by growing demand for cybersecurity expertise as well as demand for solutions to manage the risks and vulnerabilities of these operational, production and monitoring systems.

"We have identified growth opportunities in the cybersecurity area, where we see a growing need for both advisory and monitoring services to address the intensifying cybersecurity risks within critical infrastructure. Sectra's already well-developed and established offering of monitoring services will therefore be an excellent complement to our services. We are looking forward to working with Sectra and providing joint support for our customers in tackling the challenges of OT security, which requires continuous development and a broad understanding of the risks that can arise in these complex systems, and how adequate security is created," says Gustav Sandberg, Head of Business Area Cyber Security at AFRY.

The partnership between Sectra and AFRY will bring both parties together to strengthen and broaden the offering of security-related services for OT. The offering includes continuous monitoring of production-critical systems, which means that risks and potentially harmful activity can be detected and addressed at an early stage. The partnership also makes it possible to receive support for the implementation of security measures to ensure compliance with the applicable industry standards and regulatory requirements. The combined capabilities are intended to meet the growing needs of today's market, while regulatory requirements are expected to further drive demand.

"We saw the need for monitoring services for cybersecurity in critical infrastructure at an early stage and are convinced that this partnership will achieve additional synergies and lead to more growth. In AFRY, we have found a partner with strong expertise in OT security, and an established, broad customer base. We are convinced that our combined expertise in security assessments, monitoring and incident management will increase the security and availability of our customers' production systems. This, in turn, will benefit society as a whole by increasing the resilience of critical operations such as electricity generation, energy distribution and water supply," says Magnus Skogberg, President of Sectra Communications.

About AFRY
AFRY provides engineering, design, digital and advisory services to accelerate the transition towards a sustainable society. AFRY consists of 19,000 devoted experts in industry, energy and infrastructure sectors, creating impact for generations to come. AFRY has Nordic roots with a global reach, net sales of 24 BSEK and is listed on Nasdaq Stockholm. 

About Sectra
Sectra contributes to a healthier and safer society by assisting authorities and defense forces in Europe to protect society's most sensitive information, and health systems throughout the world to enhance the efficiency of care. The company, founded in 1978, is headquartered in Linköping, Sweden, with direct sales in 19 countries, and distribution partners worldwide. Sales in the 2021/2022 fiscal year totaled SEK 1,949 million. The Sectra share is quoted on the Nasdaq Stockholm exchange. For more information, visit Sectra's website.

Within the Secure Communications business area, Sectra develops products and services that protect some of society's most sensitive information and communications. The offering includes secure voice and data communications, with solutions certified at the national level and by the EU and NATO, as well as security analysis and monitoring of critical IT systems, such as electricity and water supply. Sectra's operations are conducted from its offices in Sweden, the Netherlands and Finland

For further information, please contact:
Magnus Skogberg, President of Sectra Communications AB, +46 (0)707 35 34 73
Dr. Torbjörn Kronander, CEO and President of Sectra AB, +46 (0)705 23 52 27

https://news.cision.com/sectra/r/sectra-and-afry-form-partnership-to-strengthen-cybersecurity-in-critical-infrastructure,c3772705

https://news.cision.com/sectra/i/magnus-skogberg--president--sectra-communications,c3181450

https://news.cision.com/sectra/i/gustav-sandberg--head-of-business-area-cyber-security--afry-,c3181449

(c) 2023 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2023 26 181 M 2 421 M 2 421 M
Net income 2023 1 360 M 126 M 126 M
Net Debt 2023 6 240 M 577 M 577 M
P/E ratio 2023 14,4x
Yield 2023 3,70%
Capitalization 19 661 M 1 818 M 1 818 M
EV / Sales 2023 0,99x
EV / Sales 2024 0,91x
Nbr of Employees 18 880
Free-Float 77,3%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 173,60 SEK
Average target price 225,00 SEK
Spread / Average Target 29,6%
EPS Revisions
Managers and Directors
Jonas Mikael Gustavsson President & Chief Executive Officer
Bo Sandstr÷m Chief Financial Officer & Executive Vice President
Tom Erixon Chairman
Joakim Rafael Rubin Independent Director
Maria Christina Schauman Independent Director
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