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