IQGeo Group PLC Trading Update (1384G)
2023年7月17日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMIQG
RNS Number : 1384G
IQGeo Group PLC
17 July 2023
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 as retained as part of UK
law by virtue of the European Union (Withdrawal) Act 2018 as
amended. Upon the publication of this Announcement, this inside
information is now considered to be in the public domain.
17 July 2023
IQGeo Group plc
(the "Company" or the "Group")
Trading update
IQGeo Group plc (AIM: IQG), a leading developer of geospatial
productivity and collaboration software for telecoms and utility
network operators is pleased to announce an update on current
trading following the close of the Company's first half ended 30
June 2023.
Key Highlights:
-- Revenue for the half is expected to exceed GBP20.0 million
(H1 2022: GBP9.2 million) representing half-on-half growth over
117% through organic and acquisitive growth
-- New annual recurring revenue intake achieved in H1 2023 of
approximately GBP3.3 million (H1 2022: GBP1.9 million) representing
growth of over 73%
-- Exit ARR* increasing by c.64% to approximately GBP16.9 million (H1 2022: GBP10.3 million)
-- Increasing recurring revenue net retention for the period of c.114% (H1 2022: 103%)
-- Total order intake has grown over 50% to GBP22.0 million (H1 2022: GBP14.6 million)
Financial Performance:
The Group expects to report a very strong revenue and order
intake performance for the six months ending 30 June 2023, as a
result of increasing demand in our chosen markets, and ahead of
prior expectations. This has been achieved through organic growth
of 83% through the IQGeo business and the successful integration of
the Comsof business acquired in August 2022. Given the strong
demand profile, we continue to re-invest in growing the Group's
global operational capabilities, whilst demonstrating substantial
operating gearing with adjusted EBITDA** in H1 2023 of not less
than GBP2.5 million (H1 2022: GBP0.2 million, FY2022: GBP1.9
million). Adjusted EBITDA** is in line with expectations for the
full year.
Total revenue for the six months ended 30 June is expected to
grow by over 117% half-on-half and exceed GBP20.0 million (H1 2022:
GBP9.2 million). Total Order intake has grown by over 50% in excess
of GBP22.0 million (H1 2022: GBP14.6 million).
The Group has achieved continued success in increasing its
recurring revenue base with Exit ARR* as at 30 June 2023 of
approximately GBP16.9 million (H1 2022: GBP10.3 million). ARR
intake during the period includes a follow-on contract with a top 5
Japanese Utility company and leading German broadband operator, as
recently announced.
Gross margins will be in line with the comparable period at
approximately 59% (H1 2022: 60%). The Group expects to report net
cash as at 30 June 2023 of GBP6.9 million (GBP8.1 million as at 31
December 2022), after having settled the first earn-out related to
the Comsof acquisition (EUR1.5 million) in April 2023.
The Company expects to release its full interim results in
September 2023.
Richard Petti CEO said "Our achievements over the last six
months validate our strategy and this, together with good
visibility over future activity, give us great confidence of
delivering against our financial and operational targets for the
remainder of the financial year and over the longer term. We are
now seen as an innovation and technology leader in the telecom and
utility space. Following the acquisition in August 2022, Comsof
continues to perform well and the wins and results show that the
upsell and cross-sell strategy is working. The asset investment
dynamics of the underlying markets we serve - telecoms and
utilities - have remained resilient and we see continued long term
investment in fibre optic networks and in electric grid
modernisation in all our key markets."
* Exit ARR is defined as the current go forward run rate of
annually renewable subscription and M&S agreements at current
FX rates.
**Adjusted EBITDA excludes amortisation, depreciation, share
option expense, foreign exchange gains/losses on intercompany
trading balances and non-recurring items and is reported as it
reflects the performance of the Group.
For further information contact:
IQGeo Group plc +44 12 2360 6655
Richard Petti
Haywood Chapman
finnCap Ltd +44 20 7220 0500
Henrik Persson, Seamus Fricker (Corporate Finance)
Tim Redfern, Charlotte Sutcliffe (ECM)
Notes to Editors
About IQGeo
Telecommunications and utility operators are "Building better
networks" with IQGeo's award-winning software solutions. The
ability to powerfully model any network requirement, integrate
every system and data source, and support field and office teams
with continual innovation is helping operators create the networks
of the future. Our solutions ensure greater cross-team
collaboration and process efficiency throughout the network
lifecycle, from planning and design to construction, operations,
and sales.
Whether it's highly competitive fiber and 5G broadband rollouts
or complex utility grid modernization projects, customers trust
IQGeo's enterprise solutions, OSPInsight fiber management, and
Comsof automated design software. We partner with large
multinationals and smaller regional operators to deliver the
digital innovation they need to increase network resilience,
operational safety, and business ROI.
For more information visit: www.iqgeo.com/
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July 17, 2023 02:00 ET (06:00 GMT)
IQGeo (AQSE:IQG.GB)
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