SimplyBiz Group PLC (The) Pre-Close Trading Statement (8407M)
26 January 2021 - 6:00PM
UK Regulatory
TIDMSBIZ
RNS Number : 8407M
SimplyBiz Group PLC (The)
26 January 2021
26 January 2021
The SimplyBiz Group plc
("SimplyBiz" or the " Group ")
Pre-close trading statement for year ended 31(st) December 2020
and notice of full year results
Resilient Trading, Resilient Results
SimplyBiz (AIM: SBIZ), a leading independent provider of Fintech
and Support Services to financial advisers and financial
institutions in the UK, today issues a pre-close trading update for
the twelve months ended 31(st) December 2020.
Highlights
-- Resilient revenues - GBP61m (2019: GBP63m)
-- Strong adjusted EBITDA margin* - 28.3% (2019: 28.3%)
-- Robust cash flow conversion** - expected to exceed 65% (2019: 46%)
-- Net debt reduced - to GBP19.5m (31 December 2019: GBP27.0m)
-- Net debt to adjusted EBITDA ratio - comfortable at 1.1x (2019: 1.5x)
-- Adjusted EPS - marginally above 11.0 pence per share***
Dividend
The Board intends to recommend a final dividend of no less than
2p per share.
Outlook
The Board remains confident of the resilient ongoing
profitability, growth prospects and strong cash generation of its
core business.
Notice of Full Year Results
The Group intends to publish its Full Year Results statement on
16(th) March 2021.
Matt Timmins, Joint CEO of The SimplyBiz Group plc, said:
"We are delighted to have delivered a resilient trading
performance in a challenging year, demonstrating the robust nature
of our core revenues and an ongoing improvement in the quality of
our underlying earnings, offsetting an expected reduction of
valuation income in the period.
"Throughout 2020 we have continued to accelerate our digital
strategy, grown our core customer base, and delivered exciting new
services which will further improve our quality of earnings,
margins and cash generation in the future."
"We are confident that the Group is in a strong position and is
moving forward with agility and pace."
* Adjusted EBITDA is earnings before interest, tax,
depreciation, amortisation, share option charges and operating
exceptional costs.
** Free cash flow conversion is calculated as adjusted EBITDA,
less working capital movements, lease payments, CAPEX, development
expenditure, corporation tax paid and interest, as a percentage of
Adjusted EBITDA.
*** EPS guidance provided on 23(rd) July 2020.
For further information please contact:
The SimplyBiz Group plc via Instinctif Partners
Matt Timmins (Joint Chief Executive Officer)
Neil Stevens (Joint Chief Executive Officer)
Zeus Capital (Nominated Adviser and Joint Broker) +44 (0) 20
3829 5000
Martin Green
Dan Bate
Pippa Hamnett
Liberum (Joint Broker) +44 (0) 20 3100 2222
Cameron Duncan
James Greenwood
Ed Phillips
Instinctif Partners (Financial PR) +44 (0)79 6778 9383
Mark Walter SimplyBiz@instinctif.com
Lewis Hill
Notes to Editors
The SimplyBiz Group provides essential support services, software
and data that enable professional financial advisers, financial
intermediaries and product providers to deliver better outcomes
for their customers. The SimplyBiz Group supports over 3,000
intermediary firms with regulatory and business support in addition
to 1,900 customer firms of its fintech platform, while providing
essential distribution support to over 400 financial institutions.
The Company's understanding of the changing regulatory landscape
and deep insights into the needs of customers, advisers and
product providers enables it to add unique value to the retail
financial services sector. For more information, please visit:
www.simplybizgroup.co.uk/ .
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