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First Derivatives Preliminary results for the year ended 28 February 2019

21 May 2019
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FD (AIM: FDP.L, Euronext Growth: FDP.I) today announces its audited results for the year ended 28 February 2019.

Financial Highlights

Year to 28 February 2019 2018 Change
Revenue £217.4m £186.0m +17%
Gross profit £91.3m £78.5m +16%
Adjusted EBITDA* £38.9m £34.1m +14%
Profit** before tax £16.7m £12.1m +38%
Adjusted*** profit after tax £22.9m £19.5m +17%
Adjusted*** fully diluted EPS 83.2p 72.2p +15%
Reported diluted EPS 47.9p 37.8p +27%
Full year dividend per share 27.0p 24.0p +13%
Net debt £16.5m £16.2m

*Adjusted for share-based payments and acquisition costs
**Includes foreign currency translation effect and deferred consideration on prior acquisitions
***Adjusted for amortisation of acquired intangibles, share-based payments, acquisition costs, foreign currency translation effect, share of loss on associate and exceptional taxation

Business Highlights

  • Revenue growth up 17% (2018: 23%) with software license revenue growing by 28% (2018: 25%)
  • FinTech revenue up 17% to £166.7m (2018: £142.9m), driven by an expansion of services provided to clients and new contract wins including the Canadian Securities Administrators, BitMEX and a major Japanese bank
  • MarTech revenue up 8% to £41.4m (2018: £38.2m), driven by 25% growth in subscriptions for our Marketing Cloud platform, powered by Kx
  • Revenue from other markets increased by 85% to £9.3m (2018: £5.0m), further evidencing the initial success of our strategy to penetrate high-value markets such as Industrial Internet of Things, automotive and precision manufacturing
  • High-profile new client wins across the business including Fingrid, BISTel and Survalent and significant contract expansion and appointment as Innovation Partner with Aston Martin Red Bull Racing
  • Enhanced partnership and collaboration activity including with Amazon Web Services, Google, and CGI
  • Agreement to acquire the minority shareholdings in Kx Systems, taking 100% ownership by 29 June 2019, funded by new financing facilities on improved terms
  • Strong momentum into new financial year combined with record pipeline provides confidence in continued organic growth.

Read the full press release here