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AIM-listed Vianet Group, the hospitality and retail-focused asset management and business intelligence software provider, has released a trading update for FY25 (ended 31st March 2025).
The company delivered a steady performance for the year (revenue was almost flat at £15.3m; FY24: £15.2m), with recurring revenue remaining the cornerstone of its business model (representing 85% of the total). Adjusted EBITA (pre-exceptional and share-based payments) rose 3.5% to £3.59m.
Most impressive was Vianet's balance sheet strengthening, with net debt reduced by c. 73% to under £0.4m (FY24: £1.5m), despite funding increased share buybacks (of £0.44m) and higher dividend payments. Year-end cash reserves climbed to £2.78m (FY24: £1.82m), supported by profit-to-cash conversion of 102.9% of EBITDA.
Vianet’s unattended retail division is successfully pivoting from vending management software towards long-term rental agreements with UK operators. While this strategic transition resulted in a slight 4.8% year-on-year revenue decline, it delivers higher-value, longer-term recurring income. The company secured nearly 100 new long-term contracts, each with a minimum three-year term, strengthening its pipeline in the vending and forecourt sectors.
Meanwhile, its hospitality division has surpassed pre-Covid EBITA levels, maintaining steady installation numbers despite industry headwinds (as we reported at the halfway point in the year – see Vianet revenue up 7% in H1 with return to profitability), with the company reporting that investments in its Beverage Metrics solutions and Power BI reporting capabilities are creating growth opportunities beyond the core Leased & Tenanted pub sector.
Vianet will be publishing its full-year results on 10th June, and we look forward to more detail then.
Posted by: Craig Wentworth at 08:51
Tags:
results
retail
hospitality