Idox Plc · LSE:IDOX
Idox — FY2023 Earnings Presentation
25 slides from Idox's earnings presentation, Jan 25, 2024
Slide 1: Idox plc Full Year Ended 31 October 2023
Idox plc Full Year Ended 31 October 2023 25 January 2024
Slide 2: Idox at a glance: software that drives efficiency
Idox at a glance: software that drives efficiency Our specialist software solutions, built on insight, power the performance of government and industry, driving productivity and a better experience for everyone. Land, Property & Public Community Solutions Assets Protection Regulatory Services Electi
Slide 3: FY23 highlights: A strong performance in line with expectations
FY23 highlights: A strong performance in line with expectations Delivering profitable growth Strong foundations, focus on the future Revenue up 11% to £73.3m (FY22: Idox’s Geospatial capabilities were £66.2m) further enhanced with the acquisition of Emapsite and the continued development of thinkWhe
Slide 4: Financial review
Financial review Anoop Kang Financial Year Ended 31 October 2023
Slide 5: Financial highlights FY23
Financial highlights FY23 £73.3m £43.4m £24.5m £73.3m FY22: £66.2m LPPP Revenue +24% FY22: £22.5m FY22: £66.2m Revenue Adjusted EBITDA Revenue +11% +11% £14.8m +9% Assets Revenue £43.6m £43.6m +0% 33% FY22: £40.5m FY22: 34% FY22: £40.5m Recurring Revenue £15.0m EBITDA margin % Recurring Revenue Comm
Slide 6: Delivering long-term sustainable growth
Delivering long-term sustainable growth Revenue (£m) Recurring revenue (£m) • Overall Group revenue up 28% since 2020 +11% YoY +8% YoY 73.3 • Good levels of growth 43.6 delivered every year 66.2 40.5 over this period 62.2 57.3 35.7 36.3 • LPPP the major driver for growth • Organic growth supplemente
Slide 7: Focus on quality work, delivering profitable growth
Focus on quality work, delivering profitable growth Group order intake (£m) Adjusted EBITDA (£m) • Record order intake of £82.4m in FY23 +10% YoY +9% YoY • 31% growth in order intake since 2021 82.4 24.5 74.7 22.5 • Order intake up 10% in FY23 19.5 62.9 • Adjusted EBITDA of 17.2 £24.5m in FY23 • Adj
Slide 8: Delivering value for shareholders
Delivering value for shareholders Adjusted diluted EPS (p) Dividend per share (p) • FY23 Adjusted diluted EPS up 7% +7% YoY +20% YoY at 2.62p 2.62 0.6 • Adjusted diluted 2.44 EPS grown by 78% 2.27 0.5 since 2020 • FY23 full year 0.4 dividend of 0.6p – 20% growth on FY22 1.47 0.3 • Dividend growth of
Slide 9: Financial review Land, Property & Public Protection
Financial review Land, Property & Public Protection Group contribution Revenue (£m) Adjusted EBITDA (£m) Revenue 43.4 35.1 59% 30.6 19.1 25.2 13.2 13.0 13.9 9.7 13.2 EBITDA 11.2 24.3 7.8 21.9 17.6 15.5 57% 2020 2021 2022 2023 2020 2021 2022 2023 Recurring Non-Recurring A strong performance in LPPP -
Slide 10: Financial review Assets
Financial review Assets Group contribution Revenue (£m) Adjusted EBITDA (£m) Revenue 16.1 15.8 14.8 14.9 5.4 20% 5.9 5.1 5.2 EBITDA 4.6 4.5 10.7 4.2 4.2 9.9 9.7 9.7 17% 2020 2021 2022 2023 2020 2021 2022 2023 Recurring Non-Recurring A stable performance from the Assets Division Financial Year Ended
Slide 11: Financial review Communities
Financial review Communities Group contribution Revenue (£m) Adjusted EBITDA (£m) Revenue 21% 16.3 16.0 15.8 15.0 6.5 7.4 7.0 5.4 6.4 EBITDA 5.2 4.8 26% 9.5 9.6 3.7 8.8 8.9 2020 2021 2022 2023 2020 2021 2022 2023 Recurring Non-Recurring Anticipated revenue reduction offset by improved profitability
Slide 12: Financial review Net debt movement
Financial review Net debt movement 15 20.1 1.5 10 5 - £m 14.1 (5) 6.7 (10) 8.5 2.3 0.7 (15) 1.5 14.7 0.9 (20) 2 ns x A ) ds t sts r 3 FY 2 tio Ta M& R &D en e res co Ot he FY 2 pe ra ing Di v id Int ase o cl u d Le d by in a te x( ne r pe e Ca s hg Ca Financial Year Ended 31 October 2023 11
Slide 13: Financial review Guidance & outlook
Financial review Guidance & outlook Revenue growth Adj. EBITDA margin Cash Increased facilities £75m RCF and £45m Continued strong cash Targeting 35% in the medium accordion providing the Group Double digit revenue growth generation reducing net debt term with significant resources for and leverage
Slide 14: Strategy and Operations
Strategy and Operations David Meaden Financial Year Ended 31 October 2023
Slide 15: Building on our success
Building on our success By refocussing Idox as a software business, with leading positions in our chosen markets, we have substantially improved the overall quality of our business. 177 new customers across the Group South Thames Gateway Idox Cloud 18 new customers Building Control • 37% increase in
Slide 16: Fortifying the foundations: Delivering operational growth
Fortifying the foundations: Delivering operational growth New Accretive M&A LPPP & Markets, product Geospatial & customers LG, Cloud, exeGesIS, Address Management Strategic Emapsite, Thinkwhere & Landhawk Digital & Data Services Land, + substantive Property & Software & data Public Operational curat
Slide 17: Fortifying the foundations: Driving revenue growth
Fortifying the foundations: Driving revenue growth Areas of focus Securing M&A Leveraging our sales Continued focus on Improving and opportunities that add and marketing, cross-selling in all enhancing our overall value to our current software development areas customer experience products and focus
Slide 18: Cultivating our future trajectory: Geospatial growth
Cultivating our future trajectory: Geospatial growth Web Apps DaaS Data SaaS Commercial Markets & Public Sector Acquired in August 2023, Emapsite solves clients’ complex Geospatial data problems, supplying valuable and vital business intelligence via its entry-level Core and premium Spatialise servi
Slide 19: Geospatial: A sector with significant opportunities
Geospatial: A sector with significant opportunities We believe the next decade will bring significant opportunities for Geospatial software and data, allowing for extensive growth on our Geospatial revenue. Opportunity to Deliver high Adding value to cross sell our quality data Idox existing service
Slide 20: Conclusion
Conclusion David Meaden Financial Year Ended 31 October 2023
Slide 21: Positive momentum continues
Positive momentum continues We operate in attractive markets, with strong market positions and insights, and we We will continue to invest Attractive M&A pipeline Encouraging start to have every selectively to enhance and grow our capabilities, with significant financial resources. FY24, with tradin
Slide 22: Appendix
8 idox Appendix
Slide 23: ESG: Accelerating our approach
ESG: Accelerating our approach Focusing on our people Supporting our communities Caring for the environment • All colleagues have completed training on • 3,526 (2022: 2,704) groups signed up to • Improved measurement of Scope 1, 2 and D,E & I topics, including emotional use My Funding Central free o
Slide 24: Appendix: Segmental revenue & EBITDA summary
Appendix: Segmental revenue & EBITDA summary Revenue Land, Property & Public Protection Assets Communities Total 21% FY22 FY23 FY22 FY23 FY22 FY23 FY22 FY23 20% 59% Recurring revenue £’m 21.9 24.3 9.7 9.7 8.9 9.6 40.5 43.6 Non-recurring revenue £’m 13.2 19.1 5.1 5.2 7.4 5.4 25.6 29.7 EBITDA Total re
Slide 25: idox
idox