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Civica’s revenue for the year ended 30 September 2020 fell by 0.1% to £424.9m (2019: £425.6m)—the first time it hasn't achieved year-on-year revenue growth since the Civica brand was launched in 2002. The first half of the financial year saw strong growth, but this slowed in the second half as the pandemic hit. Overall, however, business held up well without recourse to any government schemes and it retained its unbroken record of profit growth.
Gross profit improved by 0.4% to £346.4m (2019: £345.1m), operating profit before amortisation and exceptional items was up 6.5% to £85.6m (2019: £80.4m), and EBITDAE improved by 4.6% to £93.1m (2019: £89.1m). EBITDAE margin improved to 21.9% (2019: 21.2%) as its Centum operational excellence programme continued to make progress.
Revenue in the UK, which represented 77% of total revenue, grew slightly to £327.6m (2019: 327.3m). Revenue from its Australia and SE Asia business fell 2% to £90.0m (2019: £91.8m), but its smaller North American business improved by 14.5% to £7.4m.
Although the pandemic brought significant challenges, it has accelerated digital transformation in the public sector and has led to greater acceptance of cloud-based solutions. Civica has demonstrated resilience during the crisis and is strongly positioned to benefit from associated market changes (e.g. 75% of new customers sales in 2020 were cloud-based).
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Posted by Dale Peters at '08:32' - Tagged: results saas software covid-19 public+sector
