StatPro Group PLC Year end trading update (8013N)
23 January 2019 - 6:00PM
UK Regulatory
TIDMSOG
RNS Number : 8013N
StatPro Group PLC
23 January 2019
23 January 2019
StatPro Group plc
Year end trading update
StatPro Group plc, (AIM: SOG, "StatPro", "the Group"), the AIM
listed provider of cloud-based portfolio analysis and asset pricing
services for the global asset management industry, announces a
trading update for the year ended 31 December 2018.
-- Group revenue(1) expected to be approximately GBP54.7
million, up 11% (2017: GBP49.3 million)
-- Group Adjusted EBITDA(2) expected to be approximately GBP9.0
million, up 32% (2017: GBP6.8 million) - Adjusted EBITDA(2) margin
over 16% (2017: 13.9%)
-- Group Annualised Recurring Revenue ("ARR") increased by 4% to
GBP55.7 million (2017: GBP53.6 million(3) )
o StatPro Revolution ARR increased organically by 17%(4) (2017:
13%)
-- ARR renewal rate 92% (2017: 89%)
-- Net debt GBP24.6 million (2017: GBP20.2 million) - reflects
acquisitions and investments in ODDO-BHF,
Investor Analytics and Infovest
-- As previously announced, Delta will be integrated directly
with the Revolution platform, removing any uncertainty for StatPro
clients regarding the future of the Delta service
(1) Subject to audit and including impact of IFRS 15 effective
from 1 January 2018 and comparative for 2017 has been restated for
impact of IFRS 15
(2) Adjusted EBITDA is EBITDA after adjustment for amortisation
of acquired intangible assets, acquisition transaction, redundancy
and other integration costs, and share based payments
(3) at constant currency
(4) Organic ARR growth relates to Revolution excluding the
acquired revenues from Delta, Investor Analytics and ODDO-BHF, and
including conversions from Seven
Justin Wheatley, Group CEO, StatPro, commented:
"Sales in Q4 last year were robust, notably achieving a higher
organic growth in Revolution ARR. Overall we signed 20 clients in
eight different countries for contracts greater than $100k per
annum, including seven banner deals in 2018, underscoring the
momentum we are building across the industry.
"As we have stated before, we are focused on improving our
margins and have delivered a significant increase in adjusted
EBITDA margin in 2018 - this remains a focus for the current
year.
"Following a period of investment in cloud technology, the rapid
changes in the asset management industry and our deepening
relationships with asset management service providers, we are
strategically well placed for growth."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 (MAR).
Enquiries:
StatPro Group plc
Justin Wheatley, Chief Executive +44 (0) 20 8410 9876
Andrew Fabian, Finance Director
Panmure Gordon - Nomad and Broker
Corporate Finance - Freddy Crossley
/ Fabien Holler +44 (0) 20 7886 2500
Corporate Broking - James Stearns
Instinctif Partners
Adrian Duffield/Kay Larsen/Chantal
Woolcock +44 (0) 20 7457 2020
About StatPro
StatPro Group (www.statpro.com) provides cloud-based portfolio
analytics, asset data services and data management tools for the
global asset management industry and asset management service
providers.
The Group has 10 offices in Europe, North America, South Africa
and Australia, servicing around 500 clients in 39 countries. It is
organised into three divisions: Revolution, Source: StatPro and
Infovest.
Revolution is a global provider of award-winning portfolio
analytics solutions. The cloud-based platform offers vital analysis
of portfolio performance, attribution, risk and compliance.
Revolution helps clients reduce costs, improve client communication
and control investment decisions.
Source: StatPro is a global market data business and provides
Data-as-a-Service to Revolution to enable analytics. The division's
integrated and global data coverage includes millions of securities
covering the full range of financial instruments and
benchmarks.
Infovest, supplies data management solutions for the global
asset management market, including data warehouse technology, ETL,
compliance and reporting tools as well as portfolio management
solutions.
StatPro Group plc shares are listed on AIM.
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END
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