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CYBER 1 Cyber Security 1 AB ( publ ) H1 2021 Interim Report 1 January - 30 June 2021 Profitable CYBER1 out of reconstruction Revenue H1 € 16,051k ( PY : € 16,007k ) Gross Margin Regional revenue 30 % 28 % ( PY : 25 % ) 70 % EBITDA € 387k ( PY : € -1,959k ) Group Performance ■ Africa ■ Middle East H1 Group revenue has remained constant while the Group grew gross margin by 3 % to 28 % . Creating operating efficiencies across the Group continues to be a focal area for the company's executive manage- ment . The strategic actions implemented to date have positively affected the company's overall operating ex- penditure for 2021 , resulting in a decrease of 32 % to € 4.1m , versus € 6.1m in H1 2020. As indicated in previous reporting , the benefits of harmonisation initiatives are now taking effect within the organisation , increasing the overall profitability of the company . Following detailed analysis of company operations , the executive has imple- mented effective measures into the parent company and wider subsidiaries , ensuring tighter corporate govern- ance controls . The wider benefits of these actions will lead to further investment into revenue generating oppor- tunities for CYBER1 , building greater scale and profitability as a result . Total Group revenue closed for CYBER1 during H1 2021 was € 16m . H1 2021 Group EBITDA profit of € 387k , compared to a loss of € -1.9m in H1 of 2020. This change has been a result of greater operational efficiencies that have been realised during the reconstruction process throughout the last twelve months , in addition to improved margins on service and additional revenue streams . Whilst the effect of the global pandemic are still ongoing , due to the increase utilisation of professional services and partnerships with vendor solutions , CYBER1 has seen an overall stronger margin blend for the business . Com- bined with the streamlined operations within the parent company and the subsidiaries , the company has been able to position itself positively for the coming financial year . 1