ASX Announcement

Empired LogoFY17 Results 

  • Revenue $168m, up 5%
  • EBITDA $15.4m, up 105%
  • FY17 H2 EBITDA $9m, up 36% from $6.6m pcp
  • Operating cash flow $9.8m, with H2 Operating cash flow $8.9m
  • Net Debt reduced to $13.8m (Includes the re-payment of all deferred consideration by year-end)

FY17 Highlights 

  • Revenue from multi-year contracts grew to 66% of total revenue.
  • Underlying services Revenue up c10% – WA up 14%, East Coast up 6%, NZ up 11%.
  • Key growth regions ramping up with NSW sales growth of 32% and Auckland 67%.
  • Contracted Cohesion users up 56%.
  • Established an extended delivery centre in Bengaluru, India.
  • Expanding EBITDA margin from 5% to 9% with further operational leverage expected.

FY18 Outlook 

  • Expect continued market consolidation.
  • Positive growth thematic impacting broad array of industries and businesses.
  • Well placed to capture market share in circa $30+ Billion market.
  • Expect pleasing revenue growth in FY18.
  • Converting to accelerated earnings growth with strong cash conversion.
  • Pleasing start to year provides confidence in solid H1 financial result.
  • Net Debt to reduce across the year.

Commenting on the full year result Mr Baskerville said, “Over the past year we have focused on delivering strong financial results whilst ensuring our services align to key growth trends in the market supported by a materially improved balance sheet.”

“This combined with a high level of predictable revenue will position Empired to capture market share and deliver sustainable earnings growth over the coming years.”

“We were delighted with Revenue derived from multi-year contracts reaching 66% and two of our key growth markets delivering exceptional sales results with NSW sales up 32% and Auckland sales up 67%.”

“We operate in an exciting industry that is undergoing transformational change driven by rapid technology adoption.”

“Our future is bright and we thank you for your support.”

About Empired Limited

Empired Limited is an IT Services provider with a broad range of capabilities targeted at delivering enterprise IT solutions that improve efficiency, productivity and competitive advantage for our clients.

Our clients are medium to large corporate and government organisations within key industries including Energy and Natural Resources, State and Federal Government, Finance and insurance, Utilities and Transport.

We offer a broad range of services from managed services to digital transformation. Together they provide a breadth of service and expertise not seen in other consultancies of similar pedigree allowing Empired to deliver ‘end to-end’ business solutions that assist our customers in driving their key business outcomes.

With a team of over 1,000 people located throughout Australia, New Zealand and North America, Empired has built a reputation for service excellence. This combined with our strategy that is underpinned by initiative, innovation and growth ensures that in a dynamic and rapidly growing technology market place Empired is strongly positioned to capture market share and continue to build on its success.

Important notice re forward looking statements

Certain statements made in this communication, may contain or comprise certain forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, and business and operational risk management. The Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today’s date or to reflect the occurrence of unanticipated events.