Actualización de Trading
Este anuncio contiene información privilegiada a los efectos del artículo 7 de la versión del Reino Unido del Reglamento (UE) n.º 596/2014, que forma parte de la legislación del Reino Unido en virtud de la Ley de la Unión Europea (Retirada) de 2018, modificada ("MAR"). Tras la publicación de este anuncio a través de un Servicio de información reglamentaria, esta información privilegiada ahora se considera de dominio público.
30 de enero de 2024
Grupo Northcoders plc
('Northcoders' o el 'Grupo')
Actualización de Trading
'FY-2023 in line with expectations; strong start to FY-2024'
Northcoders (AIM:CODE), a UK market leading technology training business, is pleased to provide the following trading update for the year ended 31 December 2023 (the 'period' or 'FY-2023').
The Group is pleased to report that underlying FY-2023 trading is in line with revised market expectations1. Unaudited revenue for the period increased by 27% to £7.1 million (FY-2022: £5.6 million), driven by accelerating demand for digital training. The Group has £1.6 million of cash as at 31 December 2023 and net cash of £0.8 million.
In FY-2023 Northcoders' core B2C Bootcamp Division experienced record growth, receiving 8,535 registrations (FY-2022: 4,615) across its software development, data engineering and cloud engineering (DevOps) programmes. Esto ha resultado en record-breaking graduate placements and a 14% increase in the hiring partner network, now totalling 465 companies, many of whom are returning to the Group to fill new roles repeatedly, demonstrating the quality of the Group's technology training.
Despite the challenging macroeconomic environment, the Group's B2B Division experienced improved sales towards the end of H2-2023, securing three new contracts and generating an improved pipeline moving into FY-2024 across private and public sectors. Additionally, the Group secured admission onto the Cloud Compute 2 Government procurement framework, which will provide further opportunities for public sector engagement.
Perspectivas y comercio actual
2024 has started strongly, with continued growth in registrations within the B2C Bootcamp Division in January, reaching 872 (January 2023: 501), representing a 74% increase. This has been driven by improved strength and effectiveness of our marketing and conversion strategies.
On 16 January 2024 Northcoders announced that it had secured its largest ever Department for Education Government funding round. This will generate a 18.6% increase in funding per student which will support the Group's profitable growth and assist in offsetting inflation linked costs. The newly built 'NCore' platform has now been released, driving efficiencies and enabling the Group to explore even broader teaching mechanisms and iterations of the courses.
Como resultado, the Board is confident about the Group's prospects for the current financial year, with access to revenue and contracted visibility for FY-2024 standing at an all-time high at £8.3 million. This is an increase of 40% cover compared to January 2023, and strongly underpins market expectation for FY-20242. Revenue visibility for FY-2025 already stands at £3.7 million.
Chris Hill, director ejecutivo de Northcoders, dijo: "Reflecting on the past year I am genuinely proud of the Northcoders team, who delivered strong growth in revenue despite a challenging macro-economic backdrop. The ambition and entrepreneurial culture across the Group has played a crucial role in navigating these challenging market conditions, particularly as we faced some initial challenges within our newer B2B division. Looking ahead, we are moving into 2024 in our strongest ever position.
"Northcoders remains committed to our mission, creating life-changing opportunities for individuals from all walks of life, as we build upon our growth track record whilst focusing on increasing profitability. I am incredibly excited about the opportunities that lie ahead and the positive impact Northcoders can continue to make in the UK technology industry, and to the lives of the individuals we serve."
1FY-2023 Revised market expectation post Interim Results on 19 September 2023 - Revenue £7.1 million and underlying EBITDA of £0.1m
2Market expectations for FY-2024 for Revenue of £8.5m and underlying EBITDA of £0.9m
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Para más consultas:
Grupo Northcoders plc | Vía Buchanan | |
Chris Hill, director ejecutivo | Tel: + 44 (0) 20 7466 5000 | |
Charlotte Prior, directora financiera | inversores.northcodersgroup.com | |
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WH Ireland Limited (Asesor designado y Broker) | Tel.: +44 (0) 20 7220 1666 | |
Mike Coe / Darshan Patel / Sarah Mather (Finanzas corporativas) |
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Peterhouse Capital Limited (conjunto Broker) | Tel: + 44 (0) 20 7496 0930 |
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Martín Lampshire | www.peterhousecap.com |
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Lucy williams |
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Comunicaciones Buchanan | Tel: + 44 (0) 20 7466 5000 |
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Henry Harrison-Topham |
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Esteban Whitmore |
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Jamie Hooper |
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Notas a los editores
Northcoders es una de las empresas de formación tecnológica de mayor calidad del Reino Unido y ofrece formación en un amplio conjunto de áreas digitales que incluyen desarrollo de software, ingeniería de datos e ingeniería en la nube (DevOps). Fundado en 2015, los programas B2C y B2B del grupo son galardonados y esta reputación premium ha ayudado a hacer crecer una red de más de 600 socios corporativos de contratación para sus exalumnos.
El Grupo se centra en generar un impacto inmediato en la diversidad y accesibilidad corporativa, y sus cursos de aprendizaje remoto ofrecen a personas de todo el Reino Unido, de todos los orígenes, acceso al mercado de habilidades tecnológicas. A medida que las tecnologías emergentes aumentan aún más la necesidad de expertos digitales, la demanda de estos servicios continúa creciendo. A través de una mayor expansión geográfica, diversificación de clientes, nuevos formatos de capacitación y la introducción de nuevos cursos, Northcoders está escalando rápidamente para abordar la brecha de habilidades digitales del Reino Unido.
Northcoders fue admitido a cotizar en AIM en julio de 2021 con el símbolo CODE. Para obtener información adicional, visite inversores.northcodersgroup.com.
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