REG - Cerillion PLC - H1 2022 Trading Update

CerillionAnnouncement

19/04/2022 07:00

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RNS Number : 4829I  Cerillion PLC  19 April 2022

AIM: CER

 Cerillion plc

("Cerillion" or the "Company")

 

Half Year Trading Update

 

Record Six Months

 

Cerillion, the billing, charging and customer relationship management software
solutions provider, is pleased to announce an update on trading for the first
six months of its current financial year ending 30 September 2022.

 

Trading has been very strong, with the six month period ended 31 March 2022
setting new records for both revenue and adjusted EBITDA. Revenue is expected
to be 26% higher year-on-year at approximately £16.1m (H1 2021: £12.8m) and
adjusted EBITDA is expected to be 48% higher at approximately £7.1m (H1 2021:
£4.8m). Net cash at 31 March 2022 is up by 114% to approximately £16.5m (31
March 2021: £7.7m), further underpinning the Company's strong balance sheet.
Cerillion's sales pipeline remains strong and this, together with the record
performance in the first half of the year, underpins the Board's confidence
that trading for the full year will be in line with its expectations.

 

The excellent performance in the first half reflects on-going work on new
customer implementation projects and strong demand from existing customers,
against a wider back-drop of continuing strength in demand for telecoms
services and substantial on-going investment in 5G and fibre rollout.

 

The Company has continued to add further resource to support the strong
momentum in the business, and its new skill centre in Sofia, Bulgaria is
growing as planned. In addition, in the period, the Company completed
Cerillion 22.1, the latest version of its Enterprise OSS/BSS suite for fixed,
mobile, cable and multi-service operators. This new version will be released
shortly and provides customers with further B2B capabilities as well as
launching a new set of SaaS software editions that address new telecoms market
segments with out-of-the box solutions.

Notice of results

 

The Board intends to announce interim results for the six months to 31 March
2022 in mid-May 2022, when the Company will provide a further update on
current trading.

 

Louis Hall, Chief Executive of Cerillion, commented:

 

"The business has delivered a record performance for any six-month period,
driven by our backlog of new customer implementations and strong demand from
existing customers.  The market backdrop remains highly favourable for
Cerillion. With a strong pipeline of new business, we remain well-placed for
continuing growth this financial year and next."

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

 

 Cerillion plc                              c/o KTZ Communications
 Louis Hall, CEO                            T: 020 3178 6378
 Andrew Dickson, CFO

 Liberum (Nomad and Broker)                 T: 020 3100 2000
 Bidhi Bhoma, Cameron Duncan, William Hall

 KTZ Communications                         T: 020 3178 6378
 Katie Tzouliadis, Dan Mahoney

 

 

About Cerillion

www.cerillion.com

 

Cerillion is a leading provider of mission critical software for billing,
charging and customer relationship management ("CRM"), mainly serving the
telecommunications market but also other sectors such as utilities and
financial services. The Company currently has over 80 customer installations
across over 45 countries.

 

Headquartered in London, Cerillion also has operations in Pune, India, Sofia,
Bulgaria and Sydney, Australia.

 

 

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