FD Technologies (AIM: FDP.L, Euronext Growth: FDP.I) today announces its results for the year ended 28 February 2022.
Seamus Keating, CEO of FD Technologies, commented: “We have delivered a year of transformation across the Group, with each business unit achieving the Key Performance Indicators we set out in our strategy one year ago to accelerate our growth. KX, which was the principal focus of our investment in the year, delivered our target ARR growth, and enters the new financial year with increased momentum from our partnership with Microsoft enabled by the launch of our cloud native KX Insights platform. First Derivative recorded strong growth as it built on its reputation for domain knowledge and delivery excellence, while MRP continued to grow strongly from its leadership position in predictive lead generation. Across the Group, our investment in systems and people positions us to scale our operations to meet our growth ambitions. The opportunities across the markets in which we operate are significant and through continued execution of our strategy I am confident we can unlock value for our customers and accelerate our growth in the years ahead.”
|Year to end February||2022||2021||Change|
|Profit before tax||£9.0m||£11.1m||(19%)|
|Reported diluted EPS||22.9p||32.0p||(28%)|
|Net Cash / (Debt)*||£0.3m||(£9.9m)||n/a|
|Adjusted Performance Measures|
|Adjusted Diluted EPS (see note 4)||32.3p||59.0p||(45%)|
|Performance Against Key Performance Indicators||Target||Actual|
|KX exit Annual Recurring Revenue (ARR) growth||+25%||+25%|
|First Derivative revenue growth||+10%||+24%|
|MRP platform revenue growth||+20%||+18%***|
* Excluding lease liabilities
** Adjusted for share-based payments, acquisition and non-operational costs and income, depreciation and amortisation and IT Systems implementation costs expensed
*** At constant currency
Current Trading and Outlook
The Group enters the new financial year with good momentum and growing recurring revenue, providing a positive outlook for the year ahead. Our focus remains growth. In KX, we anticipate an acceleration in the key metric of ARR, with growth targeted in the range 35-40%. We expect both First Derivative and MRP to continue to deliver double-digit revenue growth and an improvement in margin.
FY23 guidance for the Group is for revenue in the range £290m to £300m and adjusted EBITDA in the range £36.5m to £38.5m.
For further information, please contact:
|FD Technologies plc||+44(0)28 3025 2242|
|Seamus Keating, Chief Executive Officer||www.fdtechnologies.com|
|Ryan Preston, Chief Financial Officer|
|Ian Mitchell, Head of Investor Relations|
|Investec Bank plc||+44 (0)20 7597 5970|
|(Nominated Adviser and Broker)|
|Goodbody||+353 1 667 0420|
|(Euronext Growth Adviser and Broker)|
|FTI Consulting||+44 (0)20 3727 1000|
About FD Technologies
FD Technologies is a group of data-driven businesses that unlock the value of insight, hindsight and foresight to drive organisations forward. The Group comprises KX, the leading technology for real-time continuous intelligence; First Derivative, which provides technology-led services in capital markets; and MRP, the only enterprise-class, predictive Accounts Based Marketing solution. FD Technologies operates from 12 offices across Europe, North America and Asia Pacific, and employs more than 3,000 people worldwide.
FD Technologies will publish a pre-recorded presentation today at 07.05 BST on its website at https://fdtechnologies.com/investor-relations/presentations/. The Group will also host a live results Q&A session for analysts at 09.30 BST today.