SimplyBiz Group a year of digital acceleration

SimplyBiz Group

SimplyBiz Group plc (LON:SBIZ), a leading independent provider of compliance, technology and business services to financial advisers and financial institutions in the UK, has advised that it will be hosting a virtual Capital Markets Briefing at 14:00 GMT today.

The briefing will demonstrate how SimplyBiz’s digital transformation strategy is being implemented, and management’s ambitions for the business. It will also include a trading update for 2020.

The briefing will indicate that SimplyBiz is looking to deliver organic growth from its core business over the next two to three years in the following ranges:

•     Revenue growth – between 5% – 7% per annum

•     EBITDA margin – between 35% – 40%

•     Cash flow conversion* – between 70% – 80%

•     SaaS and subscription revenues – between 70% – 80% of revenues

The Group will also provide the following trading update for 2020:

•      The Board reaffirms, and is confident, that its adjusted EPS will be no less than 11.0p**

•      The Board is confident that Defaqto*** will deliver double-digit EBITDA growth in 2020

•      The Board announces its intention to propose a final dividend for FY20 of 2.0p per share

*Free cash flow conversion is calculated as adjusted EBITDA, less working capital movements, lease payments, CAPEX, development expenditure, corporation tax paid and interest, as a percentage of Adjusted EBITDA.

** As stated on 23rd July 2020

***Acquired 20th March 2019

Matt Timmins, Joint CEO of The SimplyBiz Group plc, commented:

“As we complete a year of digital acceleration we are pleased to be providing the capital markets with an update on the significant strategic progress we are making at SimplyBiz, as well as a trading update as we approach our financial year-end. We have an exciting strategy for growth built on firm strategic foundations, and our strong finish to 2020 sets us up well for the year ahead.”

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