REG - Alfa Financial Soft - Q3 Trading Update

Alfa Financial Software HoldingsAnnouncement

09/11/2021 07:00

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RNS Number : 7101R  Alfa Financial Software Hldgs PLC  09 November 2021

9 November 2021

Alfa Financial Software Holdings PLC

Scheduled Q3 trading update

Momentum in the business continues

 

Alfa Financial Software Holdings PLC ("Alfa" or the "Company"), a leading
developer of mission-critical software for the asset finance industry provides
a scheduled update on trading.

 

 

Revenue and Cash

Revenue in the third quarter was strong at £20m, significantly ahead of £16m
for the same period last year with high levels of chargeability which has
continued through October.  Our net cash generation has remained strong.

 

 

Delivery

Delivery performance has remained excellent. We had delivered fifteen
successful go-lives of Alfa Systems at the time of the half year results in
September. This has now increased to twenty three, the most significant of
which was a new implementation go-live for a large US automotive client with
the successful migration of well over 1 million contracts.

 

 

Pipeline and TCV

At the time of our half-year results on 22 September 2021 we had seven
prospects in our late stage pipeline. We are continuing to make progress on
converting prospects into signed contracts and in addition have added a large
prospect in Europe so the late stage pipeline currently sits at eight
prospects.

We have had two wins so far in H2, which were announced at the time of the
half year results in September. These, along with the signing of additional
statements of work, net of work performed has resulted in our TCV ("Total
Contracted Value") increasing from £125m at 30 June 2021 to £128m at 30
September 2021.

 

 

Outlook

Overall, given the strength of the revenue performance in Q3 and the
chargeability through October, we now expect to exceed our revenue estimates
for 2021 by a further circa 3%.

 

 

Andrew Denton, Chief Executive Officer of Alfa said:

"This has been an outstanding quarter in what has been an outstanding year for
Alfa.  We are delighted to see continued good progress across all areas of
the business. Already this year more new customers have started using Alfa
Systems in more geographies than any year in our history.  We have continued
to develop the Alfa Systems to evolve their functionality and technical
capability to maintain our leadership position in the markets we serve and we
were delighted to be able to update the market on the strength of our
intellectual property at our recent investor event. These foundations, our
financial performance and the strength of our pipeline means that we continue
to have growing confidence in the outlook for the business".

 

 

Enquiries

 

 Alfa Financial Software Holdings PLC      +44 (0)20 7588 1800

 Andrew Denton, Chief Executive Officer

 Duncan Magrath, Chief Financial Officer

 Tulchan Communications LLP

 James Macey White                         +44 (0)20 7353 4200

 Victoria Boxall

 

Notes to Editors

Alfa has been delivering software systems and consultancy services to the
global asset and automotive finance industry since 1990.  Our best practice
methodologies and specialised knowledge of asset finance facilitates delivery
of large software implementations and highly complex business change
projects.  With an excellent delivery track record spanning three decades,
Alfa's experience and performance is unrivalled in the industry.

 

Alfa Systems, our class-leading technology platform, is at the heart of some
of the world's largest asset finance companies. Key to the business case for
each implementation is Alfa Systems' ability to replace multiple customer
systems with our single platform. Alfa Systems supports both retail and
corporate business for auto, equipment, wholesale and dealer finance on a
multijurisdictional basis, including leases/loans, originations and servicing.
An end-to-end solution with integrated workflow and automated processing using
business rules, Alfa Systems provides compelling solutions to asset finance
companies.

 

Alfa Systems is currently used by customers or has live implementations in 26
countries and Alfa has offices in Europe, Australasia and North America.  For
more information, visit www.alfasystems.com (http://www.alfasystems.com) .

 

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