Cerillion plc (LON:CER), the billing, charging and customer relationship management software solutions provider, has announced an update on trading for the first six months of its current financial year ending 30th September 2022.
Trading has been very strong, with the six month period ended 31 March 2022 setting new records for both revenue and adjusted EBITDA. Revenue is expected to be 26% higher year-on-year at approximately £16.1m (H1 2021: £12.8m) and adjusted EBITDA is expected to be 48% higher at approximately £7.1m (H1 2021: £4.8m). Net cash at 31 March 2022 is up by 114% to approximately £16.5m (31 March 2021: £7.7m), further underpinning the Company’s strong balance sheet. Cerillion’s sales pipeline remains strong and this, together with the record performance in the first half of the year, underpins the Board’s confidence that trading for the full year will be in line with its expectations.
The excellent performance in the first half reflects on-going work on new customer implementation projects and strong demand from existing customers, against a wider back-drop of continuing strength in demand for telecoms services and substantial on-going investment in 5G and fibre rollout.
The Company has continued to add further resource to support the strong momentum in the business, and its new skill centre in Sofia, Bulgaria is growing as planned. In addition, in the period, the Company completed Cerillion 22.1, the latest version of its Enterprise OSS/BSS suite for fixed, mobile, cable and multi-service operators. This new version will be released shortly and provides customers with further B2B capabilities as well as launching a new set of SaaS software editions that address new telecoms market segments with out-of-the box solutions.
Notice of results
The Board intends to announce interim results for the six months to 31 March 2022 in mid-May 2022, when the Company will provide a further update on current trading.
Louis Hall, Chief Executive of Cerillion, commented:
“The business has delivered a record performance for any six-month period, driven by our backlog of new customer implementations and strong demand from existing customers. The market backdrop remains highly favourable for Cerillion. With a strong pipeline of new business, we remain well-placed for continuing growth this financial year and next.”