REG - Computacenter - Q3 Trading Update – 28 October 2024

ComputacenterAnnouncement

28/10/2024 07:00

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RNS Number : 7623J  Computacenter PLC  28 October 2024

Computacenter plc

Incorporated in England

Registration number: 03110569

LEI: 549300XSXUZ1I19DB105

ISIN: GB00BV9FP302

 

 

Computacenter plc

Q3 Trading Update - 28 October 2024

Computacenter plc ('Computacenter', the 'Company' or the 'Group'), a leading
independent technology and services provider, today publishes a trading
update, based on unaudited financial information, for the third quarter to 30
September 2024 ('the quarter').

Overview

Our performance for the Group during Q3 was broadly in line with the prior
year. After a strong start to the quarter, Technology Sourcing volumes in
September were below our expectations reflecting a more cautious corporate
spending environment and slower completion of committed product orders in
North America. Our overall performance in Germany met our expectations with
the UK ahead of last year but below our expectations.

During the quarter Technology Sourcing revenue increased driven by North
America, as we continued to execute the orders won during the first half.
However, certain US shipments are now expected to be completed in Q4 and early
2025. We are encouraged by further good order intake in the US during the
period.

Services revenue during the quarter increased year on year with strong revenue
growth in Professional Services outweighing a decline in Managed Services.

We have made good progress with the £200m share buyback programme, which
commenced in late July, and have completed £191.7m to date. Following the
completion of the buyback we expect to maintain a strong balance sheet with
positive adjusted net funds.

Group outlook

Looking to the full year, Q4 is our largest quarter of the year and our
committed product order backlog remains healthy having grown since the end of
the first half. We continue to expect to deliver a second half that is
comfortably ahead of last year, however, after a softer end to Q3 than
anticipated and a backdrop of prudent corporate spending, we now expect
adjusted profit before tax on a constant currency basis for the full year to
be modestly behind last year. At current exchange rates we expect a negative
£7-8m translation impact on adjusted profit before tax in FY 2024.

Looking further ahead, the combination of the strength of our integrated
Technology Sourcing and Services model and our geographic diversity, gives us
continued confidence in our long-term growth prospects.

Our next scheduled trading update is the announcement of our Pre-close Trading
Update on 28 January 2025.

Enquiries:

 Computacenter plc
 Mike Norris, CEO                      +44 (0) 1707 631 601
 Chris Jehle, CFO                      +44 (0) 1707 631 346
 Christian Cowley, Investor Relations  +44 (0) 1707 631 132

 Teneo
 James Macey White / Matt Low          +44 (0) 207 353 4200

 

About Computacenter:

Computacenter is a leading independent technology and services provider,
trusted by large corporate and public sector organisations. We are a
responsible business that believes in winning together for our people and our
planet. We help our customers to Source, Transform and Manage their technology
infrastructure to deliver digital transformation, enabling people and their
business. Computacenter plc is a public company quoted on the London Stock
Exchange (CCC.L) and a member of FTSE 250. Computacenter employs over 20,000
people worldwide.

DISCLAIMER - FORWARD LOOKING STATEMENTS

 

This announcement includes statements that are, or may be deemed to be,
'forward-looking statements'. These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
'anticipates', 'believes', 'estimates', 'expects', 'intends', 'may', 'plans',
'projects', 'should' or 'will', or, in each case, their negative or other
variations or comparable terminology, or by discussions of strategy, plans,
objectives, goals, future events or intentions. These forward-looking
statements include all matters that are not historical facts. They appear in a
number of places throughout this announcement and include, but are not limited
to, statements regarding the Group's intentions, beliefs or current
expectations concerning, amongst other things, results of operations,
prospects, growth, strategies and expectations of its respective businesses.

 

By their nature, forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances. Forward-looking
statements are not guarantees of future performance and the actual results of
the Group's operations and the development of the markets and the industry in
which they operate or are likely to operate and their respective operations
may differ materially from those described in, or suggested by, the
forward-looking statements contained in this announcement. In addition, even
if the results of operations and the development of the markets and the
industry in which the Group operates are consistent with the forward-looking
statements contained in this announcement, those results or developments may
not be indicative of results or developments in subsequent periods. A number
of factors could cause results and developments to differ materially from
those expressed or implied by the forward-looking statements, including,
without limitation, those risks in the risk factor section of the
Computacenter plc 2023 Annual Report and Accounts, as well as general economic
and business conditions, industry trends, competition, changes in regulation,
currency fluctuations or advancements in research and development.

 

Forward-looking statements speak only as of the date of this announcement and
may, and often do, differ materially from actual results. Any forward-looking
statements in this announcement reflect the Group's current view with respect
to future events and are subject to risks relating to future events and other
risks, uncertainties and assumptions relating to the Group's operations,
results of operations and growth strategy.

 

Neither Computacenter plc nor any of its subsidiaries undertakes any
obligation to update the forward-looking statements to reflect actual results
or any change in events, conditions or assumptions or other factors unless
otherwise required by applicable law or regulation.

 

 

 

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