Cerillion more than double top-line growth rate to 25%

Software

Cerillion plc (LON:CER), the billing, charging and customer relationship management software solutions provider, presented today its annual results for the 12 months ended 30 September 2021.

Highlights 

Financial:

·   All key financial performance measures reached record highs

·   Revenue1 rose by 25% to £26.1m (2020: £20.8m)

– recurring revenue2 contributed £8.6m (2020: £6.0m), 33% of total revenue

– at the year end, on an annualised basis, recurring revenue was up 25% year-on-year to £9.9m (2020: £7.9m)

·   New orders rose by 43% to £33.3m (2020: £23.3m)

·   Back-order book3 increased by 36% to £42.1m at the year-end (2020: £31.0m)

·   Adjusted EBITDA4 increased by 81% to £10.5m (2020: £5.8m)

– adjusted EBITDA margin rose to 40.3% (2020: 27.9%)

·   Adjusted profit before tax5 up by 131% to £8.5m (2020: £3.7m)

·   Adjusted earnings per share6 increased by 105% to 25.5p (2020: 12.4p)

·   Reported profit before tax up by 181% to £7.4m (2020: £2.6m)

·   Reported earnings per share up 147% to 21.8p (2020: 8.8p)

·   Net cash increased by 71% to £13.2m (2020: £7.7m)

·   Final dividend of 5.00p per share proposed (2020: 3.75p), bringing the total dividend for the year to 7.1p per share (2020: 5.5p), an increase of 29%  

Operational:

·    Staff continued to work remotely in light of the ongoing coronavirus pandemic, but there was little adverse impact to operations and implementations

·    Largest ever contract won in March 2021 ($18.4m), with Telesur, a full-service Latin American network operator, continuing the trend of winning bigger contracts with larger customers  

·    Strong pipeline of new business opportunities

·    The Board believes that Cerillion is well-positioned for further progress over the new financial year

Louis Hall, CEO of Cerillion plc, commented:

“We have more than doubled our top-line growth rate to 25%, building on the increasing momentum in new business wins over the last three to four years. I am also pleased to highlight strong margin growth and a rising base of recurring income. Cerillion has made huge strides in increasing market awareness of its flagship product, and the signing of its largest ever contract win in the first half of the financial year continued the trend of securing bigger contracts with larger customers.

“Prospects for ongoing growth remain very strong.  With a record back-order book and strong new business pipeline, we remain confident of continued momentum over the new financial year. The market backdrop remains extremely favourable. The roll-out of 5G and digitisation continue to drive investment by telecom companies in enterprise software. These tailwinds should help to support Cerillion’s continued expansion over the short-term and longer term.”

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