Vyta seeking to break €10 million in annual revenue in next two years as demand for services grows across Ireland, the UK and EU
Vyta, Ireland’s leading secure IT recycling company, announces that it is targeting growing group revenues €10.5 million by 2021.
More than doubled business in last two years
The company has more than doubled its business in the last two years to €7.6 million as demand for its services continue to rise across the island of Ireland, in Great Britain and in continental Europe.
Vyta signed 96 new customers in 2019, who will generate €1.05 million revenue in the next year. Earlier this year, Vyta also agreed a three year outsourcing agreement with charity Camara Education, which saw the company take on an additional 122 new customers.
15 additional jobs created
To support its recent growth, Vyta has added 15 new jobs to date this year, bringing its total workforce to 75. It is on track to achieve its target of 90 employees by 2021. It is currently hiring for roles in marketing, sales, compliance and business development.
The introduction of GDPR has helped to drive demand for Vyta’s services. This is dues to organisations realising that IT hardware recycling and data destruction specialists like Vyta can help with data compliance by eliminating all residual data from unwanted IT equipment when disposing of these devices.
Commenting on today’s announcement, Philip McMichael, CEO, Vyta, said: “Businesses are more aware than ever that failing to cleanse their old desktops, laptops and hard drives of all data can lead to a breach of sensitive customer and company information. We are experiencing a corresponding surge in demand for our secure services, especially given the high rate of return we can offer customers through the resale of their equipment. Last year we returned €2.5 million to our customers.”
Deployment support service up 300% on target in first year
The uncertainty of Brexit has brought about new opportunities as well as challenges for the IT recycling company. Since launching in December 2018, Vyta’s deployment and relocation support service visited 140 sites across the island of Ireland. This service helps clients install new IT systems and manage office moves. In its first year, the service is up 300% on expected revenue – benefitting from the closure and relocation of businesses affected by Brexit.
Philip McMichael said: “While we have seen some short term benefits of Brexit through our deployment and relocation service, we are also examining new income streams to maintain our position in the market long-term. The Republic of Ireland has become a major hub for data centres and Brexit has seemingly accelerated this growth. Processing high volumes of data and with a high equipment turnover, this market represents an obvious and lucrative opportunity for Vyta and is one we are actively pursuing”.
Vertical Market Specialist of the Year 2019
In addition to Vyta’s business growth, the company also enjoyed award success in 2019, being named the Vertical Market Specialist of the Year at the Tech Excellence Awards in May. Furthermore, the company was among the first indigenous Northern Irish businesses to become members of the Living Wage Foundation – ensuring that all of its employees earn a wage that meets the cost of living.
Vyta helps organisations manage the secure retirement of their end-of-life IT, mobile and electrical equipment. Established in 2001, it has grown to be a world leader in securely managing IT retirement, as evidenced by its ranking among the top four ADISA, audited companies, and only one in Ireland. It leads based on its ability to minimise the risk of harmful data leaks from retired equipment; its exceptional customer service; and its ability to generate new revenue streams for customers post the refurbishment and resale of data sanitised devices. Its security-conscious public and private sector customers include central and local government agencies, as well as 35% of Ireland’s top 200 ICT user companies. www.https://vyta.com.ie