Cerillion report record six-month period and continuing strong prospects

Cerillion plc (LON:CER), the billing, charging and customer relationship management software solutions provider, today issued its interim results for the six months ended 31 March 2022.

ResultsH1 2022H1 2021Change
Revenue£16.1m£12.8m+26%
Annualised recurring revenue£9.8m£9.0m+9%
Adjusted EBITDA3£7.2m£4.8m+50%
Statutory EBITDA£7.1m£4.8m+48%
Adjusted EBITDA margin44.9%37.6%
Adjusted profit before tax4£6.3m£3.8m+65%
Statutory profit before tax£5.7m£3.3m+72%
Adjusted basic earnings per share518.6p11.5p+62%
Statutory basic earnings per share16.4p9.7p+69%
Dividend per share2.6p2.1p+24%
Net cash£16.5m£7.7m+114%

Financial

·    Revenue up 26% to £16.1m (H1 2021: £12.8m) reflecting ongoing major implementation projects for new customers and new orders from existing customers

·    Annualised recurring revenue1 at 31 March 2022 up 9% to £9.8m (H1 2021:  £9.0m), with increased uptake of managed services

·    Adjusted EBITDA3 up 50% to £7.2m (H1 2021: £4.8m)

·    Adjusted profit before tax4 up 65% to £6.3m (2021: £3.8m)

·    Total new orders decreased to £10.9m (H1 2021: £23.6m), however new orders from existing customers increased by 12% to £10.9m (H1 2021: £9.7m) and the new customer pipeline is up 31% to £172m (H1 2021: £131m), a new record level

o  new major customer signings are expected in H2 and beyond

·    Strong back order book2 maintained at £39.7m (H1 2021: £42.1m)

·    Adjusted earnings per share5 up 62% to 18.6p (2021: 11.5p)

·    Net cash up 114% to £16.5m (31 March 2021: £7.7m)

·    Interim dividend up 24% to 2.6p (2021: 2.1p)

Operational

·    New team of experienced delivery resources established in Bulgaria

·    Major new deals signed with existing customers

·    The Board believes that the Group is well-positioned to deliver its full year targets

Louis Hall, CEO of Cerillion plc, commented:

“Our interim results set new records for revenue, adjusted PBT and net cash across any six-month period, and demonstrate the strong momentum in the business.

“We have made good operational progress in the period as well. The new team we have established in Bulgaria is part of our push to accelerate recruitment and diversify our talent base to meet growing demand.

“We see excellent opportunities for continuing growth and the new customer sales pipeline has grown significantly. Given the Company’s progress, and its strong financial and operational position, we continue to view prospects very positively.”

1 Annualised recurring revenue includes annualised support and maintenance, managed services and Cerillion Skyline revenue.

2 Back order book of £39.7m consists of £32.7m of sales contracted but not yet recognised at the end of the reporting period plus £7.0m of annualised support and maintenance revenue. It is anticipated that 75% of the £32.7m of sales contracted but not yet recognised as at the end of the reporting period will be recognised within the next 12 to 18 months.

3 Adjusted EBITDA is a non-GAAP, Company-specific measure, which is earnings excluding finance income, finance costs, taxes, depreciation, amortisation and share-based payments charges.

4 Adjusted profit before tax is a non-GAAP, Company-specific measure, which is earnings excluding taxes, amortisation of acquired intangible assets and share-based payments charges. 

5 Adjusted earnings per share is a non-GAAP, Company-specific measure, which is earnings after taxes, excluding amortisation of acquired intangible assets and share-based payments charges divided by the average weighted number of shares in the period.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Cerillion

More articles like this

Cerillion

Are we one step closer to Rich Communication Services for all?

Are we getting closer to interoperability between messaging services? Will Rich Communication Services (RCS) be the key to breaking down the barriers between competing technologies, or will industry rivalries threaten to sink the whole matter? With hardware becoming

Cerillion

CommunicAsia: Harmonising technology, policy and sustainability

Cerillion’s Shashank Singh reports back from CommunicAsia in Singapore, the largest communications trade show in Asia, as key industry players tackled the future of connectivity, and the intersection of telecoms and sustainability. CommunicAsia, Asia’s largest communications trade show,

Cerillion

Telecoms Trends 2022: the Mid-Year Review

Superapps, Total Experience, the changing role of Systems Integrators – we revisit our predictions from earlier this year for 2022’s top telecoms industry trends to see how our expectations have been met so far. If 2020 was the

Cerillion

Sorting the “money makers” from the “value-destroyers”

Could a small cohort of customers be costing you millions in profits? Telecoms companies must protect their revenues by focusing their energies on seeking out profitable subscribers. How can CSPs refocus their attention away from value-destroying customers and

Cerillion

Cerillion plc CEO and CFO on order book, outlook and costs (LON:CER)

Cerillion’s Louis Hall and Andrew Dickson discusses how the market backdrop and pipeline evolved in H1, cost inflation and managing the cost base, back-order and forward visibility and the outlook for the company for FY22 in this exclusive interview with DirectorsTalk.

Cerillion

Could quantum science unlock the full potential of 5G?

Can the quality of 5G mobile connectivity be improved by turning the laws of physics on their head? We cautiously wade into the world of quantum mechanics to explore how it may one day improve telecoms networks. Quantum

Cerillion

An encouraging start for Cerillion

Cerillion, the UK-based billing and CRM software vendor, has released interim results characterised by a healthy increase in both revenue and profits. As reported in the telecom specialists recent trading update revenue for the six-months ended 31 March

Cerillion

Blockchain and the “new internet”

Is there trouble in cyberspace, or is the metaverse a brave new world for tech? Musaddik Ahmed takes another look at the metaverse, and the promises of blockchain for telecoms and digital ownership. In an earlier article on this blog,

Cerillion

What will private 5G mean for the future of business?

5G delivers increased mobility, performance and security – though its impact may be felt more greatly in private networks than in public adoption for the immediate future. How will private 5G change the face of industry, travel and

Cerillion

Nanny eState: The Online Safety Bill

As the UK Government seeks to clamp down on “legal but harmful” digital content, new legislation will have far-reaching implications for communications in the UK and beyond. What will the Online Safety Bill mean for users and digital

Cerillion

Cerillion new records for both revenue and adjusted EBITDA (Video)

Cerillion plc (LON:CER) Chief Executive Officer Louis Hall joins DirectorsTalk Interviews to discuss new records for both revenue and adjusted EBITDA. Louis explains whats driven this tremendous half year performance, the continued investments into the business, how the company

No more posts to show