2018 Financial Highlights
- Annualised Recurring Revenue (“ARR”) (4) up 5% to £55.68 million (2017: £53.04 million), 4% constant currency
- StatPro Revolution ARR increased organically by 17% (5) (2017: 13%)
- ARR from cloud services up 11% to £33.43 million (2017: £30.06 million)
- Average ARR per customer up to £120,800 (2017: £106,100)
- Adjusted EBITDA (3) margin up to 16.4% (2017: 13.9%)
- Net cash inflow from operating activities of £12.84 million (2017: £10.68 million)
- ODDO BHF Risk Services (“ODDO-BHF”) made positive adjusted EBITDA contribution
- ‘Delta Continuity’ project on track – transition of clients from Delta to Revolution to be completely seamless – ensuring the future and growth of Delta
- Revolution Fixed Income Attribution launched – rapidly growing market
- Group structured into three divisions in 2019: Revolution, Source: StatPro and Infovest
(1) 2017 has been restated for the impact of IFRS 15
(2) At constant currency based on restating the prior year at the closing or average currency rate.
(3) Adjusted EBITDA, adjusted PBT and adjusted earnings per share are EBITDA, PBT and earnings per share after adjustment for amortisation of acquired intangible assets, acquisition and restructuring costs, fair value movement in non-controlling interest put option, fair value reduction in deferred consideration and share based payments (notes 5, 6 and 8).
(4) Annualised Recurring Revenue is the annual value of revenue contractually committed at year end.
(5) Organic ARR growth relates to Revolution excluding the acquired revenues from acquisitions and including conversions from Seven (see note 3)
|2018||2017||Change||Constant currency (2)|
|Adjusted EBITDA (3)||£9.01m||£6.84 m||32%||34%|
|Adjusted profit before taxation (3)||£4.96m||£3.33 m||49%||51%|
|Loss before tax||£(0.99)m||£(3.47)m||n/a|
|Adjusted earnings per share (3)||7.3p||5.8p||26%|
|Loss per share – basic||(0.8)p||(3.7)p||n/a|
|Dividend per share – total for year||2.9p||2.9p||–|