Actualización comercial de todo el año y aviso de resultados
31 de enero de 2024
PLC inspirado
("Inspired" o el "Grupo")
Actualización comercial de todo el año y aviso de resultados
Strong Group trading performance and confident outlook
Inspirado (OBJETIVO: INSE), a leading technology enabled service provider supporting businesses in their drive to reduce energy consumption, deliver net-zero, control energy costs and manage their response to climate change, announces a trading update for the financial year ended 31 December 2023 ("FY23").
The Group delivered a strong trading performance, with adjusted EBITDA up 19%, in line with market expectations1. The Group achieved strong trading particularly in the second half with all trading divisions contributing revenue growth and each delivering solid strategic progress.
Aspectos financieros más destacados
· | Group revenue is expected to be c.11% ahead of FY22, at c.£98.7m. The Group traded strongly in FY23 with a shift in product mix within the Optimisation Division driving a higher margin contribution from the revenue generated in that division. |
· | Group Adjusted EBITDA* grew 19% to £25.0m (2022: £21.0m) in line with market expectations1. Adjusted EBITDA Margin increased to c.25% (2022: c.24%) as a result of the improved margin within the Optimisation Division. |
· | Group Adjusted profit before tax**("PBT") is expected to be in line with market expectations1. The growth in Adjusted EBITDA was partially offset by increased finance costs, reflecting higher interest rates on borrowings. |
· | As anticipated, the Group's Optimisation division saw very high levels of project activity in H2 2023, with the associated investment in working capital reducing Cash Conversion*** in FY23 to c.70%. In January the working capital investment unwound, and it is expected that Cash Conversion for the 12 months to 31 January 2024 will be in excess of 90%. |
· | Net debt at 31 December 2023 was c.£48.7m (H1 2023: £49.1m). With strong cash generation in January 2024, net debt at 31 January 2024 is expected to be c.£45.0m. |
Aspectos destacados de la división
· | Servicios de garantía continued to see momentum in new business generation, with improved churn rates, higher retention rates and margins broadly in line with H1 2023. |
· | Servicios de optimización experienced strong demand in H2 2023, delivering c.13% revenue growth in FY23. This was driven by increasing levels of repeatable demand from existing clients of the division alongside growing levels of cross selling from the Assurance Division. |
· | Servicios ESG achieved c.100% revenue growth in FY23 and made an Adjusted EBITDA contribution to the Group. |
· | Servicios de software revenue grew by c.15% in the year whilst maintaining Adjusted EBITDA margins in excess of 70%. |
Perspectivas y comercio actual
The secular demand from companies to reduce energy consumption, drive efficiencies and report against progress remains unchanged and underpins demand for the Group's services. This has been reflected in the continued progress of the ESG Division and the Optimisation Division, the latter of which experienced a strong Q4 2023.
The Group started Q1 2024 strongly with substantial cash generation as the working capital investment in Q4 2023 unwound and is confident in the outlook for FY24.
This momentum is expected to continue, giving the Board confidence in its previously stated aspiration to maintain double-digit organic growth and, by FY27, double Adjusted EBITDA organically from that achieved in FY22. The associated cash generation will also lead to a deleveraging of the Group in relative and absolute terms.
Commenting on the period, Mark Dickinson, CEO of Inspired, said: "The Group delivered a solid operational and financial performance during the year, with Adjusted EBITDA and PBT in line with market expectations, with a continued focus on cash generation.
"Managing energy costs and ESG have now become firmly embedded as operationally and commercially critical for most businesses. This is creating sustained and increasing demand for Inspired's differentiated products and services. We are better placed than ever as a full-service provider and are confident of future success and in our outlook for FY24 on the back of momentum in FY23."
Aviso de resultados
Inspired expects to announce its audited full year results to 31 December 2023 on 26 March 2024.
* Adjusted EBITDA is earnings before interest, taxation, depreciation and amortisation, excluding exceptional non-recurring items and share-based payments.
**Adjusted profit before tax is earnings before tax, amortisation of intangible assets (excluding internally generated amortisation related to computer software and customer databases), exceptional items, share-based payments, the change in fair value of contingent consideration and foreign exchange gains/(losses).
***Cash Conversion is cash generated from operations, as adjusted to exclude exceptional non-recurring items, as a percentage of Adjusted EBITDA.
1 The Company considers that consensus market expectations for Adjusted EBITDA is £25.0m and Adjusted PBT £16.2m for FY23.
Consultas, póngase en contacto con:
PLC inspirado Mark Dickinson (director ejecutivo) Paul Connor (director financiero) David Cockshott (director comercial)
| www.inspiredplc.co.uk +44 (0) 1772 689250
|
Shore Capital (asesor designado y conjunto Broker) Patrick castillo James Thomas raquel goldstein
| +44 0 20 7408 4090
|
Liberum (articulación Broker) Eduardo Mansfield Satbir Kler
| +44 0 20 7418 8900 |
Alma Comunicaciones estratégicas Justine James hanna campbell Will Ellis Hancock
| +44 0 20 3405 0205 +44 (0) 7525 324431 |
Notas para los editores
Inspired PLC es un proveedor líder de servicios B2B habilitado con tecnología que ofrece soluciones que permiten a las empresas corporativas realizar la transición a emisiones netas de carbono cero y gestionar su respuesta al cambio climático en el Reino Unido e Irlanda.
Fundada en 2000, Inspired opera cuatro divisiones: Servicios de aseguramiento, Servicios de optimización, Servicios ESG y Servicios de software, y brinda servicios expertos de sostenibilidad y asesoramiento energético a más de 3,500 empresas que normalmente gastan más de £100,000 4 en energía y agua al año. Las cuatro divisiones del Grupo trabajan juntas para ayudar a las empresas corporativas a gestionar todos los aspectos de su programa de energía y sostenibilidad a través de la lente de lo que el Grupo denomina las XNUMXC de Costo, Consumo, Cumplimiento y Carbono.
Inspired ha sido reconocido con el mercado de Economía Verde de la Bolsa de Valores de Londres desde 2020 por su asesoramiento, servicio y apoyo ambiental y estratégico a los clientes y también está clasificado como el principal asesor del Reino Unido por la consultora independiente de inteligencia del mercado energético, Cornwall Insight.
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