Last checked at 25 Apr 2023 07:00
25 April 2023
GlobalData Plc
(AIM: DATA, GlobalData, the Group)
AGM Trading Update and Notice of Artificial Intelligence ("AI") Seminar
· Strong growth continues
· Margin progression tracking well
· Significant emerging technology opportunities ahead
GlobalData Plc, the leading provider of industry intelligence, today provides the following update on trading for the period 1 January 2023 to date, ahead of today's Annual General Meeting.
Group revenue, supported by healthy renewal rates, continues to grow strongly and in line with market consensus. The significant operating leverage in our platform is coming through as expected and currently EBITDA is slightly ahead of market expectations.
Mike Danson, Chief Executive Officer of GlobalData Plc, commented:
"We have started the year well, with our progress underpinned by strong revenue visibility from existing customers and new customer momentum. We remain on track to deliver against our stated objectives. GlobalData has always benefitted from emerging technology, and we are all excited in relation to the early opportunities that generative AI and Machine Learning are presenting. I am pleased to see our colleagues really embracing the potential enhancements this could bring for GlobalData and its customers and we look forward to presenting this opportunity at the AI Seminar in June."
Artificial Intelligence Seminar for investors and analysts
In line with our strategy and capitalising on our powerful data and insights, we continue to invest in our world class offering by embedding and harnessing emerging technologies. With over 25% of our datasets now wholly-driven by AI / Machine Learning and c.60% of our Software and data science teams working on new product development, this presents a significant opportunity for GlobalData to unlock the potential of its Gold Standard product.
AI-driven tools have been embedded into renewals workflow, helping clients derive more value from their partnership with us and informing internal teams on the growth of client relationships. There is also increasing demand from clients to understand the impact of AI on their industries, and GlobalData is very well positioned to serve their evolving needs through its unrivalled AI research capability.
A short seminar for investors and analysts is planned for June 2023 to showcase recent innovations within GlobalData. Our management team will be joined by several product leaders, who will provide an update on advancements to expand AI-related research and the adoption of AI-powered product capabilities across the Company's platform. Further detail on the seminar and registration information will follow in due course.
ENDS
ENQUIRIES
GlobalData Plc | |
Mike Danson, Chief Executive Officer | 0207 936 6400 |
Graham Lilley, Chief Financial Officer | |
J.P. Morgan Cazenove (Nomad and Joint Broker) | 0203 493 8000 |
Bill Hutchings | |
Mose Adigun | |
Panmure Gordon (Joint Broker) | 0207 886 2500 |
Rupert Dearden | |
Dougie McLeod | |
Numis Securities (Joint Broker) Nick Westlake Iqra Amin | 0207 260 1000 |
| |
FTI Consulting (Financial PR) | 0203 727 1000 |
Edward Bridges | |
Dwight Burden | |
Emma Hall |
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain.
Notes to Editors
About GlobalData Plc
GlobalData Plc (AIM: DATA) is a leading data, insights, and analytics platform for the world's largest industries. Our mission is to help our clients decode the future, make better decisions, and reach more customers.
One Platform Model
GlobalData's One Platform model is the foundation of our business and is the result of years of continuous investment, targeted acquisitions, and organic development. This model governs everything we do, from how we develop and manage our products, to our approach to sales and customer success, and supporting business operations. At its core, this approach integrates our unique data, expert analysis, and innovative solutions into an integrated suite of client solutions and digital community platforms, designed to serve a broad range of industry markets and customer needs on a global basis. The operational leverage this provides means we can respond rapidly to changing customer needs and market opportunities, and continuously manage and develop products quickly, at scale, with limited capital investment as well as providing unique integration opportunities for M&A.
Strategic Priorities
GlobalData's four strategic priorities are: Customer Obsession, World Class Product, Sales Excellence and Operational Agility.
Growth Optimisation Plan
GlobalData's Growth Optimisation Plan is a set of initiatives designed to drive revenue growth and profitability. The Plan's initiatives operate across all of GlobalData's operations but are organised around the strategic priorities noted above.