Last checked at 19 Apr 2022 07:00
AIM: CER
Cerillion plc
("Cerillion" or the "Company")
Half Year Trading Update
Record Six Months
Cerillion, the billing, charging and customer relationship management software solutions provider, is pleased to announce an update on trading for the first six months of its current financial year ending 30 September 2022.
Trading has been very strong, with the six month period ended 31 March 2022 setting new records for both revenue and adjusted EBITDA. Revenue is expected to be 26% higher year-on-year at approximately £16.1m (H1 2021: £12.8m) and adjusted EBITDA is expected to be 48% higher at approximately £7.1m (H1 2021: £4.8m). Net cash at 31 March 2022 is up by 114% to approximately £16.5m (31 March 2021: £7.7m), further underpinning the Company's strong balance sheet. Cerillion's sales pipeline remains strong and this, together with the record performance in the first half of the year, underpins the Board's confidence that trading for the full year will be in line with its expectations.
The excellent performance in the first half reflects on-going work on new customer implementation projects and strong demand from existing customers, against a wider back-drop of continuing strength in demand for telecoms services and substantial on-going investment in 5G and fibre rollout.
The Company has continued to add further resource to support the strong momentum in the business, and its new skill centre in Sofia, Bulgaria is growing as planned. In addition, in the period, the Company completed Cerillion 22.1, the latest version of its Enterprise OSS/BSS suite for fixed, mobile, cable and multi-service operators. This new version will be released shortly and provides customers with further B2B capabilities as well as launching a new set of SaaS software editions that address new telecoms market segments with out-of-the box solutions.
Notice of results
The Board intends to announce interim results for the six months to 31 March 2022 in mid-May 2022, when the Company will provide a further update on current trading.
Louis Hall, Chief Executive of Cerillion, commented:
"The business has delivered a record performance for any six-month period, driven by our backlog of new customer implementations and strong demand from existing customers. The market backdrop remains highly favourable for Cerillion. With a strong pipeline of new business, we remain well-placed for continuing growth this financial year and next."
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.
Cerillion plc | c/o KTZ Communications |
Louis Hall, CEO | T: 020 3178 6378 |
Andrew Dickson, CFO |
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Liberum (Nomad and Broker) | T: 020 3100 2000 |
Bidhi Bhoma, Cameron Duncan, William Hall |
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KTZ Communications | T: 020 3178 6378 |
Katie Tzouliadis, Dan Mahoney |
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About Cerillion
www.cerillion.com
Cerillion is a leading provider of mission critical software for billing, charging and customer relationship management ("CRM"), mainly serving the telecommunications market but also other sectors such as utilities and financial services. The Company currently has over 80 customer installations across over 45 countries.
Headquartered in London, Cerillion also has operations in Pune, India, Sofia, Bulgaria and Sydney, Australia.