Matt Timmins of Fintel: We expect another strong year hence why Directors are buying more shares
Episode 1293, Mar 23, 2023, 09:15 AM
Matt Timmins Co-CEO of Fintel #FNTL discusses the strong performance of 2022 and their confidence in the outlook, which is underpinned by four directors increasing their investment in the company.
Highlights
· Financial performance in line with Board expectations
· Strong core revenue growth of 8% to £56.4m ahead of our medium-term target, underpinned by significant growth in Fintech and Research division
· Solid adjusted EBITDA margin of 29.1% delivered alongside continued reinvestment into digital capabilities
· Improved quality of earnings across all divisions, with SaaS and subscription revenue growing 7% to £36.8m
· Statutory EBITDA of £16.7m (FY21: £25m) and Statutory EPS 9.5 pence per share (FY21: 15.7 pence per share). FY21 results benefit from one off exceptional gains of £7.8m.
· Net cash position of £12.8m (FY21: £2.6m) with Revolving Credit Facility ("RCF") fully repaid and undrawn since June 2022 driven by operating cash conversion of 118% (FY21: 116%)
· Strong balance sheet with new and increased four year £80m RCF completed in December 2022, on more favourable terms, providing significant, flexible funding capacity for inorganic and organic growth opportunities arising in the market
· Final dividend of 2.25 pence per share proposed, resulting in a full year dividend of 3.25 pence per share, an increase of 8% on prior year, reflecting the Group's strong business performance and cash generation
To read the full RNS click here
Highlights
· Financial performance in line with Board expectations
· Strong core revenue growth of 8% to £56.4m ahead of our medium-term target, underpinned by significant growth in Fintech and Research division
· Solid adjusted EBITDA margin of 29.1% delivered alongside continued reinvestment into digital capabilities
· Improved quality of earnings across all divisions, with SaaS and subscription revenue growing 7% to £36.8m
· Statutory EBITDA of £16.7m (FY21: £25m) and Statutory EPS 9.5 pence per share (FY21: 15.7 pence per share). FY21 results benefit from one off exceptional gains of £7.8m.
· Net cash position of £12.8m (FY21: £2.6m) with Revolving Credit Facility ("RCF") fully repaid and undrawn since June 2022 driven by operating cash conversion of 118% (FY21: 116%)
· Strong balance sheet with new and increased four year £80m RCF completed in December 2022, on more favourable terms, providing significant, flexible funding capacity for inorganic and organic growth opportunities arising in the market
· Final dividend of 2.25 pence per share proposed, resulting in a full year dividend of 3.25 pence per share, an increase of 8% on prior year, reflecting the Group's strong business performance and cash generation
To read the full RNS click here