TPXimpact Holdings PLC Trading Statement (4993Y)
2023年5月5日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMTPX
RNS Number : 4993Y
TPXimpact Holdings PLC
05 May 2023
5 May 2023
TPXimpact Holdings PLC
("TPX", "TPXimpact", or the "Company")
Trading Update
Current trading at the higher end of previous forecasts and
updated guidance for FY24 & FY25
TPXimpact Holdings PLC (AIM: TPX), the technology-enabled
services company focused on digital transformation, is pleased to
provide an update on its Q4 and full year trading for the year
ended 31 March 2023 and to provide guidance for the full years
ending 31 March 2024 and 2025.
Q4 and Full Year Trading
Trading for the fourth quarter of the year was at the higher end
of previous guidance.
As a result, and based on the Group's unaudited management
accounts for the year, the Board expects to report revenue of
c.GBP83 million with an Adjusted EBITDA margin of approximately 3%.
Net debt (excluding lease liabilities) was below GBP18 million at
31 March 2023.
New business generation was strong during the fourth quarter,
totalling GBP36 million, and that momentum has continued into the
new financial year. April 2023 marked a record for the Group with
new business wins exceeding GBP80 million, highlighting the
opportunity available for TPX as it secures larger contracts while
optimised for efficiency under one brand. This was primarily due to
the two major new contracts announced on 28 April with HMLR (His
Majesty's Land Registry) for up to GBP49 million over four years
and the Department for Education for GBP27.5 million over two
years, both commencing May 2023. These wins provide a solid
foundation for the current financial year and beyond.
The Board expects to release the Group's preliminary, unaudited
results for the year ended 31 March 2023 in late June 2023 and will
provide more detail on the FY23 outturn at that time.
Outlook
The Group has completed its budgeting process for the year
ending 31 March 2024 (FY24). As a result of strong new business
performance, the Board is raising its guidance on organic revenue
growth to 15-20% for FY24 (from 10-15% previously) and is targeting
an Adjusted EBITDA margin of 5-6%, which also reflects continued
investment in our people and systems. Management expect margin
improvement to be weighted to the second half of the year.
Committed (or backlog) revenues for FY24 are currently around
GBP80 million, which compares with GBP41 million at the same time
last year.
With respect to FY25, management are targeting organic revenue
growth of 10-15% and a further improvement in Adjusted EBITDA
margin of 2-3% on top of that targeted for FY24.
Debt covenants
Further to the trading update announced on 31 March 2023, and
the waiver of the Group's debt covenant tests at that date,
management continue to engage positively with the Group's bankers
in relation to their review of the Group's short and medium term
cash flow forecasts. These discussions are ongoing and the Board
will provide an update in due course.
- Ends -
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018.
The person responsible for this announcement is Steve Winters,
Group CFO.
Enquiries:
TPXimpact Holdings PLC Via Alma PR
Bjorn Conway, Group CEO
Steve Winters, Group CFO
Stifel Nicolaus Europe Limited +44 (0) 207 710 7600
(Nomad and Joint Broker)
Alex Price
Fred Walsh
Ben Burnett
Dowgate Capital Limited
(Joint Broker)
James Serjeant
David Poutney
Russell Cook +44 (0) 203 903 7715
Alma PR +44 (0) 203 405 0209
(Financial PR) tpx@almapr.co.uk
Josh Royston
Kieran Breheny
Matthew Young
About TPXimpact
TPXimpact exists to transform the organisations, services and
systems that underpin society and that drive business success. It
applies strategic and creative thinking, technology, innovative
design and user-centred approaches to bring about numerous
improvements which together multiply the impact of change.
The Company works closely with its clients in agile,
multidisciplinary teams that span organisational design,
technology, and digital experiences. It shares a deep understanding
of people and behaviours and a philosophy of putting people and
communities at the heart of every transformation.
The business is being increasingly recognised as a leading
alternative digital transformation provider to the UK public
services sector, with c.65% of its client base representing the
public sector and c.35% representing the commercial sector.
More information is available at www.tpximpact.com.
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END
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May 05, 2023 02:00 ET (06:00 GMT)
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