Full year results for the year ended 29 February 2020

FD (AIM: FDP.L, Euronext Growth: FDP.I) today announces its audited results for the year ended 29 February 2020.

Financial Highlights

* 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

Business Highlights

• 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.

Webcast Recording
You can watch a replay of our analyst presentation from 19th May 2020 by clicking here.

Read the full RNS release here