FDM Group (Holdings) plc · LSE:FDM
FDM Group (Holdings) — FY2023 Earnings Presentation
18 slides from FDM Group (Holdings)'s earnings presentation, May 19, 2024
Slide 1: Powering the people behind tech and innovation
Powering the people behind tech and innovation
Slide 2: Results for the year ended 31 Dec 2023
Results for the year ended 31 Dec 2023 Rod Flavell - CEO Mike McLaren - CFO
Slide 3: Highlights for the year ended 31 December 2023
Highlights for the year ended 31 December 2023 Revenue (£m) Adjusted Profit Before Tax (£m)¹ Adjusted PBT margin (%)¹ Profit Before Tax (£m) 330.0 334.0 54.5 20.1% 55.6 52.0 52.5 50.2 271.5 267.7 267.4 46.7 17.5% 45.6 42.0 15.7% 15.8% 15.0% 41.0 41.4 +1% -3% -0.8ppts. +22% vs 2022 vs 2022 vs 2022 20
Slide 4: Highlights for the year ended 31 December 2023
Highlights for the year ended 31 December 2023 Consultants deployed at year end Consultant utilisation % 96.1% 97.3% 97.5% 4,905 94.8% 92.8% 4,033 3,924 3,892 3,580 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 -21% -4.7ppts. vs 2022 vs 2022 Number in training at year end Training completions 54
Slide 5: Highlights for the year ended 31 December 2023
Highlights for the year ended 31 December 2023 Consultants deployed by region Consultant tenure 13% 10% 24% 20% 19% 36% 43% 26% YR3+ 44% 53% YR2 54% 54% YR1 44% 32% 28% 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 New clients Active clients 97 426 78 409 74 395 388 52 47 371 2019 2020 2021 2022
Slide 6: Our markets
Our markets • Macroeconomic uncertainty impacted demand for new UK 2021 2022 2023 23 vs 22 23 vs 21 Consultants with UK Consultant headcount decreasing 28% from December 2022 Consultants deployed 1,806 1,958 1,411 (28%) (22%) • In response to the change in demand, training completions were reduced b
Slide 7: Our markets
Our markets • Consultant headcount increased 3% from December 2022, EMEA 2021 2022 2023 23 vs 22 23 vs 21 closing at 327 • 8 new clients opened in the year (2022: 8) Consultants deployed 252 318 327 3% 30% • Ireland experienced good growth in the year with headcount Training Completions 197 223 256
Slide 8: Headcount by industry
Headcount by industry Industries 2021 2022 2023 Banks 53% 53% 51% Financial Services 13% 14% 15% Insurance 7% 7% 7% Government 6% 6% 6% Commercial & Professional Services 3% 4% 4% 2023 Energy 3% 3% 4% Software & IT Services 7% 5% 3% Media & Entertainment 3% 3% 3% Retailing 0% 1% 1% Materials 0% 1% 1
Slide 9: Our Programmes Ex-Forces and Veterans Returners
Our Programmes Ex-Forces and Veterans 2022 2023 211 163 • Supporting and transitioning former service 1,050+ personnel into tech and business Consultants • British Ex-Forces in Business Award 2023 • 50+ former service personnel placed in 2023 former service personnel placed on-site to date 2022 2023
Slide 10: Sustainability & Inclusivity
Sustainability & Inclusivity At FDM, diversity, equity and inclusivity starts at the top. It is ingrained into the FDM culture and championed by the leadership team. Gender Disability Nationalities 90+ 32% 6% 1 Identify as having nationalities of worldwide a disability working together FDM employees
Slide 11: Summary
Summary • FDM delivered a resilient performance in 2023 against a backdrop of very challenging market conditions, returning a robust financial performance overall and continuing our investment in programmes to support future growth as and when market conditions improve • Revenue of £334.0m (2022: £3
Slide 12: FDM recognition
FDM recognition 12 FDM Group (Holdings) plc - Results for the year ended 31 December 2023
Slide 13: Accreditation
Accreditation Working with our accreditation partner, TechSkills, the following courses have been awarded the Tech Industry Gold standard accreditation 13 FDM Group (Holdings) plc - Results for the year ended 31 December 2023
Slide 14: Technology Partnerships
Technology Partnerships 14 FDM Group (Holdings) plc - Results for the year ended 31 December 2023
Slide 15: Income Statement
Income Statement 2023 £'000 2022 £'000 For the year ended 31 December 2023 Revenue 333,975 329,972 Cost of sales (177,449) (174,353) Gross profit 156,526 155,619 Administrative expenses (101,500) (109,772) Operating profit 55,026 45,847 Finance income 1,396 418 Finance expense (796) (604) Net financ
Slide 16: Statement of Financial Position
Statement of 2023 2022 £'000 £'000 Non-current assets Financial Position Right-of-use assets Property, plant and equipment Intangible assets 18,215 2,616 19,571 10,073 3,666 19,729 Deferred income tax assets 552 2,316 As at 31 December 2023 40,954 35,784 Current assets Trade and other receivables 32
Slide 17: Statement of Cash Flow
Statement of 2023 2022 £'000 £'000 Cash Flow Cash flows generated from operations 61,499 49,665 Interest received 1,396 418 Income tax paid (12,741) (13,665) For the year ended 31 December 2023 Net cash inflow from operating activities 50,154 36,418 Cash flows from investing activities Acquisition o
Slide 18: Forward-looking statements
Forward-looking statements This report contains statements which constitute “forward-looking statements”. Although the Group believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. Because