First Derivatives Full year results for the year ended 29 February 2020
19 May 2020
FD (AIM: FDP.L, Euronext Growth: FDP.I) today announces its audited results for the year ended 29 February 2020.
Year to 29 February
Profit** before tax
Reported diluted EPS
Full year dividend per share
Net debt ***
*Adjusted for share-based payments and acquisition costs; FY 2020 adjusted EBITDA (excluding impact of IFRS 16): £41.4m (+6%)
**Includes foreign currency translation effect and deferred consideration on prior acquisitions
***Excluding lease obligations under IFRS 16
Software revenue up 13% to £148.4m (2019: £130.9m), driven by 23% growth in recurring software license revenue.
Significant contract wins in our core FinTech market and progress in our drive to achieve market leadership by building out the capabilities of our solutions.
Partner agreements and contract wins across our target markets of automotive, manufacturing and energy as we focus on those markets where KX provides the greatest competitive advantage, including a global KX partnership agreement announced separately today with Tata Consultancy Services (TCS).
MRP Prelytix subscription revenue up 33% to £25.6m (2019: £19.3m) as we increase the platform’s functionality and it becomes recognised as a leader in its market.
Managed services and consulting revenue up 3% to £89.4m (2019: £86.5m) with strong order intake in H2 but lower growth due to a delayed start to two multi-year contracts.
Launch of KX 4.0 with increased performance, security, visualisation and machine learning capabilities to spearhead our push to wide adoption of KX across industries.
Finalisation of the acquisition of the minority shareholdings in KX Systems, taking 100% ownership, funded by new financing facilities which provide flexibility to support the Group’s growth plans.
Appointments of Seamus Keating as Chief Executive Officer and Donna Troy as Chairman in January 2020.
You can watch a replay of our analyst presentation from 19th May 2020 by clicking here.