iEnergizer posts record set of interim results

(Sharecast News) - Digital media technology company iEnergizer reported a record set of interim results on Thursday, with revenue rising 35.1% to $121.9m, and service revenue up 36.8%.
The AIM-traded firm said EBITDA was $13.7m higher year-on-year for the six months ended 30 September at $44.4m, resulting in an EBITDA margin of 36.4%, up from 34.1% in the first half last year.

Its operating profit increased to $42m from $27.9m, leading to an operating profit margin of 34.5%, compared to 30.9% a year ago.

The company said its profit before tax increased to $37.9m from $26.9m, while its profit after tax improved to $34.3m from $23.5m.

Net debt, meanwhile, narrowed slightly to $111.3m from $115.9m.

The board declared an interim dividend of 8.12p per ordinary share, up from the 5.72p it made for the first half of the prior financial year.

"We are delighted to report another strong performance by iEnergizer, with highly profitable growth in revenue and profit margins, which exceeded our expectations for the first half," said chairman Marc Vassanelli.

"This has been driven by our colleagues' continued efforts in deepening existing customer relationships and attracting several new customers for our new service lines, combined with careful and active cost management.

"Reflecting the group's strong balance sheet and the cash generative nature of the business, we are pleased to announce an interim dividend of 8.12p, in continuation with our approach since the first half of 2020."

Vassanelli said that as the world recovered from the Covid-19 pandemic and guidelines relaxed, the company was now "well-equipped" to ensure that it met all of its customers' needs and requirements, while supporting staff to work safely either from the office or remotely as per government guidelines.

"With iEnergizer's solid foundations; its proven strength in operational execution and healthy balance sheet; our differentiated offerings, successful new sales initiatives, and substantial opportunities for further growth identified, we expect a sustained business performance.

"The board looks forward to the remainder of the year with confidence."

At 1152 GMT, shares in iEnergizer were up 16.03% at 304p.