Idox plc

Financial Year Ended 31 October 2021

FY21

Agenda

"Another year of strong financial performance and strategic and operational progress"

  • FY21 Highlights
  • Introduction
  • Financial review
  • Strategy and Operations
  • Inorganic
  • ESG
  • Outlook

Over 90% of local UK authorities are customers for one or more of our products

1,200+ customers & 500+ employees with offices in the UK, Europe and India

Continuing revenues £70 million* &

adjusted EBITDA margin of 30%+

*annualised impact of FY21 acquisitions and disposals

2

FY21 Highlights

FY21 continued to deliver good progress against the Group's strategic goals and high levels of operational execution:

Revenue increased

Recurring revenue

Adjusted EBITDA

Net Debt decreased

by 9% to £62.2m

increased

increased

to £8.1m

(2020: £57.3m)

by 2% to £36.3m

by 13% to £19.5m

(2020: £16.1m)

(2020: £35.7m)

(2020: £17.2m)

Disposed of 2 non-core operations

Transactions cash

Acquired 3 Public Sector Software operations

neutral overall

3

Introduction Delivering Success

Fly

EV £500m+

Recurring revenue 75% EBITDA margin 35%

Walk

Market Cap

£130m

Revenue

£65.5m

Adj. EBITDA

£14.4m

Net Debt

£26.4m

Market Cap

£285m

Revenue

£66.1m

Run

Adj. EBITDA

£19.8m

Net Debt

£8.1m

Market Cap

£235m

ARR

60%

EBITDA margin

30%

Revenue

£68.0m

Disposed of non-core Content businesses

Adj. EBITDA

£19.6m

Focus on Product management and market leadership

Net Debt

£16.1m

Promote Digital and path to Cloud

Improved Management Information for better decisions

Tighter product and infrastructure management

Tighter management of sales

New management team

Fix funding

Re-establish plc forecasts (inc. audit)

FY18

FY19

FY20

FY21

FY22

FY23

FY24

4

Financial Review FY21 Highlights

Continuing operations (excl. disposed Idox Content)

RevenueRecurring Revenue

£62.2m

£36.3m

+9%

+2%

FY20: £57.3m

FY20: £35.7m

Adjusted FD EPS Dividend per share

2.27p

0.40p

+ 54%

+ 33%

FY20: 1.47p

FY20: 0.30p

Adjusted EBITDA*

£19.5m

+13%

FY20: £17.2m

Net Debt

£8.1m

-39%

FY20: £16.1m

  • Revenues up 9% in the year, driven by strong increase in non-recurring revenues
  • Recurring revenues continue to grow following a focus on SaaS solutions across our business, and contributions from our H2 acquisitions
  • Step up in earnings due to high quality revenue expansion and ongoing operational diligence across the Group
  • Another strong cash performance leading to a further material reduction in Net Debt. Good financial resources to transact further bolt-on acquisitions
  • Good financial resources to transact further bolt-onacquisitions
  • Dividend up 33% following re-introduction of dividend last year
  • Adjusted EBITDA is defined as earnings before amortisation, depreciation, restructuring, acquisition costs, impairment, corporate finance costs and share option costs.

5

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Disclaimer

IDOX plc published this content on 27 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2022 07:48:06 UTC.