Trading Update

RNS Number : 5924Q

1Spatial Plc

01 March 2021

 

1 March 2021

1Spatial plc

("1Spatial", the "Group" or the "Company")

Trading Update

1Spatial, a global leader in Location Master Data Management (LMDM) software and solutions, today provides an update on trading for the financial year ended 31 January 2021.

Based on the unaudited financial results, the Group expects to report solid progress in key financial metrics, delivering results ahead of current market expectations due to a robust performance in the second half of the year.

Revenue for the year is expected to be in excess of £24m (FY 2020: £23.4m), with recurring revenue having increased year on year. The order book of committed revenue and longer-term contracts also increased year on year.

Adjusted EBITDA is expected to be in excess of £3.2m (FY 2020: £3.2m).

The Group delivered a significantly improved cash performance, with net cash increasing to approximately £4.3m at 31 January 2021 (31 January 2020: £3.9m). The increase in net cash is after payment of deferred consideration of €0.7m (£0.6m), and the result of a strongly positive operating cash flow and a positive free cash flow for the full year.  

Outlook

The Board is confident that the Group's progress over the last year is set to continue in the coming year. Nevertheless, the Board remains cautious in managing potential risks resulting from the Covid-19 pandemic. The Company will provide a further update on trading at the time of the Final Results, expected to be released on 28 April 2021.

Commenting on the update, 1Spatial CEO, Claire Milverton, said:   "I am delighted to report such a solid set of numbers and significantly improved cash performance against the challenging backdrop of the global pandemic. Our expertise in the cleansing and management of location data means we sit right at the heart of changes across multiple sectors. Whether that be in helping governments and energy providers prepare to meet the green agenda, supporting the investment in infrastructure upgrades as the world's economies prepare for post-COVID recovery, or implementing digital transformation strategies. We closed the year strongly and look to the future with increasing confidence."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.

For further information, please contact:

1Spatial plc	01223 420 414
Claire Milverton / Andrew Fabian
Liberum (Nomad and Broker)	020 3100 2000
Neil Patel / Cameron Duncan / Ed Phillips / Miquela Bezuidenhoudt
Alma PR	020 3405 0205
Caroline Forde / Justine James / Molly Gretton	[e-mail]

1Spatial plc's LEI Number is: 213800VG7OZYQES6PN67

About 1Spatial plc

1Spatial plc is a global leader in providing Location Master Data Management (LMDM) software and solutions, primarily to the Government, Utilities and Transport sectors. Our global clients include national mapping and land management agencies, utility companies, transportation organisations, government and defence departments.

Today - as location data from smartphones, the Internet of Things and great lakes of commercial Big Data increasingly drive commercial decision-making - our technology drives efficiency and provides organisations with confidence in the data they use.

We unlock the value of location data by bringing together our people, innovative solutions, industry knowledge and our extensive customer base.  We are striving to make the world more sustainable, safer and smarter for the future. We believe the answers to achieving these goals are held in data. Our 1Spatial Location Master Data Management (LMDM) platform incorporating our 1Integrate rules engine delivers powerful data solutions and focused business applications on-premise, on-mobile and in the cloud. This ensures data is current, complete, and consistent through the use of automated processes and always based on the highest quality information available.

1Spatial plc is AIM-listed, headquartered in Cambridge, UK, with operations in the UK, Ireland, USA, France, Belgium, Tunisia and Australia.

For more information visit  www.1spatial.com

 

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