Totally Regulatory News (TLY)

Certain information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as amended by Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

13 April 2021

Totally plc

("Totally", the "Company" or the "Group")

Trading update

The Board of Totally plc (AIM: TLY), a leading provider of a range of healthcare services across the UK, today announces an update on trading for the 12-month period ended 31 March 2021.

Excellent trading performance

Based on draft unaudited numbers, the Group anticipates reporting EBITDA* for the year ended 31 March 2021 substantially ahead of both management expectations and the historic underlying EBITDA of £4.0 million reported by the Group in the financial year ended 31 March 2020. The resilient and improved trading performance across the Group is due to multiple factors but primarily as a result of the Company being able to respond proactively and quickly to the numerous demands for its healthcare services during the global COVID-19 pandemic, through which the Company has assisted the NHS in providing frontline care across the UK. The Directors would like to put on record their thanks for the services provided by their own frontline employees, the NHS and every healthcare organisation the Group works with.

As at 31 March 2021 the Company was in a healthy financial position with £14.8 million of net cash (31 March 2020: £8.9 million). The Company has no debt financing ** and all deferred HMRC payments have been paid in full.

Agile and quick response

Against the backdrop of a global pandemic, the year to 31 March 2021 was undoubtedly one of the most challenging periods of time for the Company. Through effective management, however, the emergency preparedness and response was quickly and efficiently executed. 

All operations of the Group were impacted with some services, particularly face-to-face, understandably paused. However, with the increased demand for urgent healthcare support, the Group was well placed to respond quickly through, among others, the delivery of COVID-19 Management Services, National Clinical Assessment Services and the ramping up of 111 capacity.

Strong market position

Totally continues to make strong progress with its stated strategy of delivering a range of quality healthcare services across the UK and Ireland in partnership with the NHS and other healthcare providers. Over the course of the 12-month period the Group announced numerous contract renewals and new business models being delivered, many targeted to manage demand during the pandemic, which amounted to an aggregate contract value of c. £92.5m. The Group was also pleased at the end of March 2021 to be chosen as a qualified provider to Yorkshire Ambulance Service NHS Trust, the first agreement that Totally has entered into under the new NHS Integrated Care System framework.

Totally saw positive movement in its Care Quality Commission (CQC) ratings, resulting in all of its registered services now being rated as "Good". These activities and successes have placed the Group in a strong position as a preferred partner of the NHS.

The Directors also note that waiting lists across the UK have all increased during the last year as a result of elective care being paused during the COVID-19 period. The Group's insourcing division continues to be appointed by numerous hospitals across the UK and Ireland to provide services to help reduce these waiting lists. The Directors therefore anticipate significant growth for the insourcing division of the Group in the short term. The Group's Planned Care division has also resumed services during the past few months, mobilising new dermatology services across Manchester and physiotherapy services to a number of police forces in the south-west of England.

Patient and staff wellbeing remains the Group's top priority as it continues to deliver critical front-line services across the UK and Ireland.

Financial Results for the 12-month period ended 31 March 2021

The Directors expect the Company to release its audited final results for the 12-month period ended 31 March 2021 in July 2021. The Directors expect to re-introduce market guidance at the time of the final results.

* EBITDA is defined as earnings before interest, tax, depreciation and amortisation and excludes one-off exceptional items.

** Following the adoption of IFRS 16, the Company has reported operating lease commitments as a debt on its balance sheet however these do not affect the day to day working capital available to the Group.

For further information please contact:

Notes to Editors

Totally plc is a leading healthcare service provider in the UK and Ireland, working in partnership with the NHS and other providers to deliver healthcare services through its divisions of Urgent Care, Planned Care and Insourcing.

Totally is committed to pursuing a progressive buy-and-build consolidation strategy within the fragmented healthcare market and looks to capitalise on the attractive opportunities that its disruptive service model offers, to generate value to shareholders.

Urgent Care

Totally offers a full range of urgent care services via its subsidiaries, Vocare and Greenbrook Healthcare, two of the largest urgent care providers in the UK, including:

·NHS 111 services

·Clinical Assessment services

·GP Out-of-Hours services

·Urgent Treatment Centres

www.vocare.org.uk

www.greenbrook.nhs.uk

Planned Care

Totally delivers planned care services, which include community based Out-Patient Services, Referral Management Services, Physiotherapy and Podiatry Services. It provides these through its planned care subsidiaries, About Health, Premier Physical Healthcare and Optimum Physiotherapy.

www.abouthealthgroup.com

www.premierphysicalhealthcare.co.uk

www.optimum-hcs.com

Insourcing

Launched in October 2019, Totally Healthcare provides bespoke insourcing solutions across multiple specialities to trusts and hospitals in the UK and Ireland, reducing waiting lists by utilising their spare capacity outside of normal working hours and weekends.

www.totallyhealthcarelimited.com

More information on Totally plc can be found at the following link: www.totallyplc.com.