Proactis SA - announcement January 2024
27 September 2024 - 2:30AM
UK Regulatory
Proactis SA - announcement January 2024
Proactis SA announces
results for
the 18 months period ended 31 January 2024
Paris –
26th September 2024
– Proactis SA (Euronext: PROAC), a leading provider of
comprehensive spend management and business process collaboration
solutions, today announced financial information for the year ended
31 January 2024, in accordance with the “European Transparency
Obligations Directive” financial disclosure requirements.
It should be noted at the outset
that publication of the results for the year ended January 31,
2024, was originally scheduled for May 31, 2024. Unfortunately,
Proactis SA was unable to keep to this timetable, as its statutory
auditors were unwilling to issue their reports on the accounts for
the period just ended before the completion of the audit of the
accounts of Proactis SA's parent company by the group's UK
auditors.
Period ended 31 January 2024 – Key
Results:
The Proactis SA Board of Directors approved the
accounts for the 18 months period ended 31 January 2024 on
10th September 2024, which have been formally certified
by the auditors.
€ Million
|
|
Period ended 31 January 2024 -18 Months
|
|
Year ended 31 July 2022 - 12 Months
|
|
|
Revenue
|
|
17.9
|
|
14.4
|
|
|
EBITDA (*)
|
|
2.0
|
|
2.8
|
|
|
EBITDA as a % of revenue |
|
11% |
|
19% |
Net Earnings
|
|
(16.6)
|
|
0.3
|
|
|
Operating Cashflow
|
|
3.2
|
|
2.3
|
|
|
Cash
|
|
0.6
|
|
0.9
|
|
|
|
(*) EBITDA:
Operating result before depreciation and non-recurring items. |
|
|
Presentation is done on 18 months due to the
year-end date change to align with the Proactis Topco Limited Group
year-end date change.
Revenues
Although the turnover of the Group looks greater
due to the change in year-end; it is below the level of the prior
period. This is mainly due to the non-renewal of 3rd
party solution contracts at the end of contract, or non-renewal of
contract in specific non-core product areas. Revenue as presented
includes revenue from the Group management fees and split is as
follow:
€ Million
|
|
Period ended
31 January 2024
|
|
Year ended
31 July 2022
|
|
|
|
|
|
|
|
Revenue |
|
17.9 |
|
14.4 |
|
|
|
|
|
Operating revenue |
|
11.3 |
|
9.8 |
Management fees |
|
6.6 |
|
4.6 |
Goodwill Impairment
Based on the value in use calculations
established for the Proactis SA Group, it has been necessary to
recognise an impairment. The value in use calculation reflects
pipeline conversion delay and the slowdown in volume-related
activities during the period under review. The recoverable amount
was estimated based on their value in use of €3.3M. An impairment
of €3.5M has therefore been recorded.
Other operating expenses
Proactis SA Group has recorded a depreciation of
10.9 million euros on the receivables it owns against the current
accounts with sister entities. This write-down was recorded at the
request of Proactis SA's statutory auditors. These current accounts
result from intra-group transfer pricing billing and are not likely
to be repaid in the short term.
Profitability
The Company recorded an EBITDA for the period
ended 31 January 2024 of €2.0M (€2.8M for the year ended 2022).
Net Earnings were € (16.6)M versus year ended 31
July 2022: € 0.3M.
Cashflow
In the period ended 31 January 2024, the Group‘s
operating cash-flow was €3.2M. Capital investment remained strong,
at €3.0M, and was focused on the Company’s strategic solution
suite; The Business Network. The Group had positive cash balances
of €0.6M on 31 January 2024 (31 July 2022: €0.9M).
* * * *
About Proactis SA
(https://www.proactis.com/proactis-sa), a Proactis
Company
Proactis SA connects companies by providing
business spend management and collaborative business process
automation solutions for both goods and services, through The
Business Network. Our solutions integrate with any ERP or
procurement system, providing our customers with an easy-to-use
solution which drives adoption, compliance and savings.
Proactis SA has operations in France, Germany,
USA and Manila.
Listed in Compartment C on the Euronext Paris
Eurolist.
ISIN: FR0004052561, Euronext:
PROAC, Reuters: HBWO.LN,
Bloomberg: HBW.FP
Contacts
Tel: +33 (0)1 53 25 55 00
E-mail: investorContact@proactis.com
* * * *
- Proactis SA announcement January 2024
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