Actualización de Trading
29th febrero 2024
itim grupo plc
("itim" o "la Compañía" y junto con sus subsidiarias "el Grupo")
Actualización de Trading
"Revenues in line and EBITDA ahead of market expectations - confident of future outlook"
itim Group plc, una empresa de tecnología basada en SaaS que permite a los minoristas en tiendas optimizar sus negocios para mejorar el rendimiento financiero, se complace en announce an unaudited trading update for the financial year ended 31 December 2023, ahead of the publication of the Company's annual results which are anticipated to be released in May 2024.
Destacados
· Revenues increased 15% at £16.1m* (2022: £14.0m (audited)) in line with current market expectations.
· Annual recurring revenue ("ARR") remained constant at approximately £13.2m* (2022: £13.2m (audited)) representing 82% of revenue as the Group focused on EBITDA and cash generation.
· EBITDA for the year is expected to be £0.68m* (2022: £0.21m (audited)) ahead of market expectation of £0.3m.
· Total loss before tax for the year is also anticipated to be ahead of market expectations.
· Post period end, completion of a significant multi-million pound contract with Quiz Clothing to implement the Groups first fashion customer on the end-to-end retail platform.
· As expected, the Group ended the year with cash balances of £1.9m* (2022: £3.9m (audited)) with no outstanding loans.
In the year ended 31 December 2023, the Group achieved revenue growth of 15% increasing from £14.0m to £16.1m* as the business pivoted from focussing on ARR growth to cash generation with service revenues increasing by 64% and EBITDA increasing by 126%.
As the culmination of the two-year investment programme approaches, empujar is pleased to present an update on the progress as it presents an enhanced product offering, strategically positioning itim for sustained success within the dynamic retail landscape.
Significant improvements have been made across the product suite. A notable strategic milestone includes the integration of fashion into the core Retail Suite, catalysed by the successful Quiz Clothing contract win, which went live as announced on the 27th 2024 febrero. Furthermore, targeted investments in the Profimetrics platform, Chameleon store systems, Tradeledger for supplier collaboration, and e-commerce have collectively enhanced the capabilities of itim's offering. The Company's transformative efforts have led to the creation of a unified platform, named 'UNIFY.' This rebranding not only consolidates our products but also better communicates the essence of our Unified Retailing platform. The positive feedback from customers demonstrates the real impact of these improvements, strengthening confidence in itim's go-to-market strategy.
In alignment with prevailing economic conditions, itim is currently in the process of "right sizing" its business. This strategic pivot involves a shift away from 'free' implementation services towards a continual focus on increasing services revenues and EBITDA. The emphasis on demonstrating the real 'benefits' of UNIFY through consulting underscores the Company's commitment to delivering tangible retail value to the retail community.
Over the past eight years, itim has demonstrated a compound average growth rate of 11%. Despite challenges posed by the recent turbulent macro-economic environment over the last three years, the Company has navigated these obstacles with resilience. With a solid foundation laid by the IPO funding, a further enhancement in the growth rate is anticipated when global economic conditions improve.
* Unaudited
Ali Athar, Chief Executive Officer, commented, "I am pleased to present a robust set of numbers for the year with revenue in line and EBITDA ahead of market expectations demonstrating itim's commitment to improving our strategic initiatives and positioning the Company for sustained growth and success. We are delighted to announce the launch of UNIFY, our unified platform which not only consolidates our product offerings but also provides a seamless and enhanced experience in the retail landscape. I would like to express our gratitude for stakeholders for their continued trust and support. We are encouraged by recent trading and a significant pipeline of new opportunities which enables the Board to view the future with renewed confidence and optimism."
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.
Consultas:
grupo itim plc | Ali Athar, director ejecutivo Ian Hayes Director financiero
| 0207 598 7700 |
WH Irlanda (NOMAD y Broker) | katy mitchell harry ansell patel darshan
| 0207 220 1666 |
Asesoría IFC | Graham arenque Florencia Chandler | 0207 3934 6630 |
ACERCA DE ITIM
itim fue establecida en 1993 por su fundador y actual Director Ejecutivo, Ali Athar. itim se formó inicialmente como una empresa de consultoría, ayudando a los minoristas a mejorar sus operaciones. A partir de 1999, la Compañía comenzó a expandirse hacia la provisión de soluciones de software propietario y, para 2004, la Compañía se centró exclusivamente en la tecnología digital. itim ha crecido tanto orgánicamente como a través de una serie de adquisiciones de pequeños sistemas de software minorista heredados y aplicaciones asociadas que itim ha vuelto a desarrollar para crear una plataforma omnicanal de extremo a extremo totalmente integrada.
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