London · Delayed Price · Currency is GBP · Price in GBX S4 Capital Earnings Call Transcripts
Fiscal Year 2025
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2025 saw improved margins and liquidity despite a near 11% revenue decline, driven by cost discipline and restructuring. Free cash flow more than doubled, net debt fell sharply, and the company is shifting to AI-driven, subscription-based models.
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Q3 saw revenue and net revenue declines year-over-year, but sequential improvement over Q2, with cost reductions and new business wins expected to drive stronger H2 profitability. AI-driven offerings and operational efficiencies are supporting margin improvement, while net debt and leverage have improved.
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Net revenue declined 10% like-for-like in H1 2025 due to tech client caution and macroeconomic headwinds, but free cash flow and net debt improved. AI initiatives and major client wins are expected to drive a stronger H2, with EBITDA guidance maintained for the year.
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Net revenue declined 10% like-for-like in H1 2025, with operational EBITDA at £20.8 million and net debt reduced to £145.9 million. AI-driven transformation and new business wins are expected to drive a stronger H2, with full-year EBITDA guidance maintained and enhanced shareholder returns possible if targets are met.
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Q1 2025 net revenue fell 12% year-over-year amid client caution and tech sector softness, but operational EBITDA met expectations due to cost controls. Full-year guidance is maintained, with H2 performance expected to improve as new business ramps up.
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Q1 2025 net revenue fell 12% year-over-year, mainly due to tech client caution and a key client reduction, but operational EBITDA met expectations. H2 is expected to see significant growth from new business wins, with guidance for 2025 net revenue and EBITDA similar to 2024.
Fiscal Year 2024
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2024 saw net revenue fall 11% like-for-like to GBP 755 million, with operational EBITDA at GBP 88 million and improved margins due to cost controls. A GBP 280 million impairment was recorded, and 2025 is expected to be flat, with AI-driven services and new business wins supporting future growth.
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2024 saw revenue and EBITDA decline due to tech client spending cuts and macro headwinds, but margins improved through cost control and restructuring. AI innovation and new business wins, like General Motors, support a stable 2025 outlook, with continued focus on efficiency and cash management.
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Q3 2024 saw a 19% revenue decline amid tough macroeconomic conditions and reduced tech client spend. Cost reductions and new business initiatives are underway, but full-year net revenue and EBITDA are expected to be down year-over-year.
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Q3 saw a 19% revenue decline amid challenging macro conditions and reduced tech client spend, with full-year net revenue expected to fall by low double digits. Cost reductions and new AI-driven offerings are underway, while net debt remains within target range.
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Net revenue declined 16% in H1 2024 due to macroeconomic uncertainty and reduced tech client spending, but operational EBITDA margin remained stable at 8% through cost actions. Full-year EBITDA is expected to match 2023, with a stronger second half anticipated.
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Net revenue declined 16% in H1 due to tech client caution and lower transformation activity, but operational EBITDA margin remained stable at 8% through cost control. Full-year EBITDA is expected to match 2023, with further margin expansion in H2 as cost savings continue.