Last checked at 10 Jan 2023 07:00
10 January 2023
GlobalData Plc
(AIM: DATA, GlobalData, the Group)
Full year trading update
- A strong FY2022 performance; ahead of the top-end of the range of analysts' forecasts
- Resilient position to deliver further growth with high revenue visibility
- Expect adjusted EBITDA to be materially ahead of expectations for FY2023
GlobalData Plc, the leading provider of industry intelligence, today provides the following update on trading following the end of its financial year to 31 December 2022.
Following its interim results on 01 August 2022, GlobalData continued to deliver a strong performance throughout the second half, ahead of the top end of analysts' expectations for FY20221. As a result, the Group now expects to deliver Group revenue of c.£242m (2021: £189.3m), adjusted EBITDA of c.£86m (2021: £64.4m) and close on Net Debt (ex leases) of c.£252m (2021: £177.6m).
Given the strong momentum in booked revenues during Q4, bookings growth of 11%2 in FY2022 and c.80% revenue visibility for FY2023 as of 1 January 2023, management now expects revenue to be ahead and adjusted EBITDA to be materially ahead of the current analyst consensus3 for FY2023.
To showcase the strength of its business model, the Group will host a Capital Markets Day on 24 January 2023 with registration details to be shared in due course, and will also provide more details on its performance at the time of its full year results on 27 February 2023.
Mike Danson, Chief Executive Officer of GlobalData Plc, commented:
"The last twelve months have clearly demonstrated that GlobalData continues to provide highly valued, critical information and insights across multiple markets to its global customer base through a unique, scalable platform. We have continued to invest throughout the year in enhancing our single platform and in our people. That strategy has delivered another year of profitable growth and further strengthened the foundations of our business for future growth. The Group enters the new financial year in a strong position, and we anticipate delivering towards the top end of our EBITDA margin target4. Our confidence is underpinned by high revenue visibility, a stable cost base and excellent cash generation from a platform that delivers value for our customers, our people and shareholders."
1 Analysts range for 2022: Revenues: £235m - £241m; adj. EBITDA: £83m - £84m
2 11% growth based upon underlying growth of Invoiced Forward Revenue as at 31 December 2022.
3 Analysts range for 2023: Revenues: £266m - £276m; adj. EBITDA: £97m-£101m
4 Adjusted EBITDA margin target previously stated as 35-40%
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) | 0207 742 4000 |
Bill Hutchings | |
Mose Adigun | |
Panmure Gordon (Joint Broker) | 0207 886 2500 |
Erik Anderson | |
Alina Vaskina | |
Numis Securities (Joint Broker) Nick Westlake Iqra Amin | 0207 260 1000 |
| |
FTI Consulting LLP (Financial PR) | 0203 727 1000 |
Edward Bridges | |
Dwight Burden | |
Emma Hall |
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.