3 Jun 2015 07:00
Q1 Trading Update
3 June 2015
FOR IMMEDIATE RELEASE |
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GLOBO plc
("Globo" or "the Group")
Q1 2015 Trading Update
Globo plc (LSE-AIM: GBO / OTCQX: GOBPY), the international provider of Enterprise Mobility Management (EMM), mobile solutions and software as a service (SaaS), announces a trading update for the three months ended 31 March 2015.
Trading Update
The Group has seen a strong start to 2015, with significant organic revenue growth, maintaining the momentum of FY 2014. The highlights of our Q1 2015 performance are as follows:
· Group revenue grew 36% YoY to €23.7 million
o GO!Enterprise revenue grew 108% YoY to €13.3 million (Q1 2014: €6.4 million)
o CitronGO! / GO!Social revenue grew 2% YoY to €8.9 million (Q1 2014: €8.8 million)
o Telecom & SaaS revenue grew 15% YoY to €1.5 million (Q1 2014: €1.3 million)
· EBITDA grew 33% YoY to €13.4 million (Q1 2014: €10.1 million)
· Cash generated from operations increased to €13.5 million (Q1 2014: (€1.9 million))
· Free Cash Flow1 of €1.8 million (Q1 2014: (€7.4 million))
· Net cash position increased to €41.2 million (31 December 2014: €40.4 million)
First Quarter Developments
Key developments during the quarter include:
· The renewal of approximately 50,000 GO!Enterprise EMM licences and an incremental purchase order from a US Fortune 100 company, worth US$1.2 million (€1.0 million), as previously announced
· A number of important contract wins with customers such as the U.S. army, ING, EMC, INTEL, Musananda (UAE), Vodafone and Coca-Cola
· Continued recognition from industry observers, with Globo being highlighted in Ovum's 2015-16 Decision Matrix for MADP Solutions as a major "Market Challenger" amongst the 12 leading MADP vendors, with the potential to become a Tier-1 player
· Announcement at Mobile World Congress in Barcelona of FIPS 140-2 certified encryption for GO!AppZone, the only company to offer this level of security for such a developer platform
Globo CEO Costis Papadimitrakopoulos commented:
"We are pleased to report a strong start to 2015 trading with materially improved cash generation during the quarter. The focus for the current year is to execute our GO!Enterprise business strategy, primarily in the U.S. market. GO!Enterprise has had a very strong start to the year, with revenue in Q1 growing 108% year-on-year, driven by organic licence growth. As our U.S. expansion continues to gather momentum, I expect our early successes in 2015 to continue through the remainder of the year."
1 Free Cash Flow (FCF). Free Cash Flow is calculated by taking the net cash flow from operating and investing activities, adding back the cost of acquisitions.
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For further information please contact:
Globo plc | +44 20-7378-8828 |
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Costis Papadimitrakopoulos, CEO Dimitris Gryparis, Finance Director Mike Jeremy, IRO | |||||
RBC Capital Markets (Nominated Adviser & Broker) |
+44 20-7653-4000 |
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Pierre Schreuder or Ema Jakasovic | |||||
Canaccord Genuity (Joint Broker) Simon Bridges or Emma Gabriel |
+44 20-7523-8000 |
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Brunswick Group | |||||
Chris Blundell or Charles Pemberton | +44 20-7404-5959 |
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About Globo
Globo Plc is a global provider of complete enterprise mobility solutions and SaaS. Our GO!Enterprise (EMM) and GO!AppZone (MADP) offerings help businesses expand their engagement with employees and customers through the mobile channel via a secure and extensible environment that runs on all smart devices. The Group operates internationally through subsidiaries and offices in the U.S., U.K., Europe, Middle East and South East Asia. Globo was included in the 2014 Gartner Enterprise Mobility Management Magic Quadrant report, in Ovum's 2014-15 Decision Matrix for EMM Solutions and 2015-16 Decision Matrix for MADP Solutions, and in IDC's January 2015 report on Mobile Enterprise Application Development Platforms. For more information visit www.globoplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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