Inside information: Nixu updates its financial targets and refines its strategy
Nixu Corporation, Inside information, stock exchange release February 9, 2023, 08.00 a.m. EET
Nixu has updated its financial targets and aims for a revenue exceeding EUR 100 million and an operating profit of more than 10% by 2025. The updated strategy goes under the name ‘Next Nixu’ and it focuses on stronger growth and profitability. As a result of changes in strategy, Nixu has updated its organization and operating segments according to four service areas. Nixu will organize a capital markets day focusing on Nixu’s new strategy, business, and the new operating model tentatively during early spring 2023.
The strategy consists of six focus areas, three of which are related to business growth and the latter ones are growth enablers:
- Focus on core business in Sweden and Finland
- Scale Managed Services business
- Expand and accelerate in other countries
- Be the best workplace for cybersecurity professionals
- Become the strongest cybersecurity brand – offering best client experience
- Improve operational efficiency
According to the strategy, Nixu will develop its strong presence in Sweden and Finland by targeting the markets with its full service offering. The company will focus on scaling its managed services business to increase the number of clients and market share. Furthermore, Nixu will target new markets, such as Norway, with specific spearhead services to grow its client footprint and eventually scale its business by introducing the full portfolio to the new markets.
Nixu wants to be the best workplace for cybersecurity professionals also in the future, as people are Nixu’s most valuable asset. It will focus on hiring and retaining professionals with a specific focus on attracting young talent. Within the fifth theme, Nixu will simplify its service portfolio and further develop its client-centricity. Nixu will also invest upfront in sales and ways of working to reach its future growth ambitions and improve operational efficiency.
In addition to the updated strategy, Nixu will strengthen its executive team and refine its organization. Marketing and Communications will be separated from the current Client Experience organization, and Identity and Access Management (IAM) will be separated from the current Expert Services to become its own service area. Both units will be represented in the Nixu executive team and report directly to the CEO.
As a result of the changes in Nixu’s strategy, organization, and related reporting structure, Nixu has updated its operating segments according to four service areas (SA) instead of the previous geographical divisions. The new operating segments are SA Professional Services, SA IAM, SA Managed Services, and SA Certification Services. For reporting purposes, the operating segments will be combined into a single segment covering Nixu's entire business, as before.
“Nixu is very well positioned for the Next Nixu strategy that we are now launching. To reach our targets for profitable growth, we will continue to sharpen our operating model as a vehicle for strategy execution. The success of the updated strategy requires strong leadership and an effective organization. For that reason, we are adding two functions to the executive team. Recruitments to these positions are starting immediately, and new organization will be in effect March 1st”, says Nixu’s CEO Teemu Salmi.
Nixu Corporation
Further information:
CEO Teemu Salmi, Nixu Corporation
e-mail: [email protected]
Distribution:
Principal media
www.nixu.com
Nixu in brief:
Nixu is a cybersecurity services company that has been shaping the future through cybersecurity for over three decades. We make cyberspace a secure place and help our clients ensure business resilience with peace of mind. Nixu has Nordic roots, and we employ around 400 of the best professionals in Finland, Sweden, the Netherlands, Denmark, and Romania. Our experts are safeguarding the most demanding environments of some of the largest organizations in the world across all industries. Nixu shares are listed on the Nasdaq Helsinki Stock Exchange.
www.nixu.com
