REG - Elixirr Intnl PLC - Trading Update

Elixirr InternationalAnnouncement

01/02/2022 07:00

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RNS Number : 1912A  Elixirr International PLC  01 February 2022

ELIXIRR INTERNATIONAL PLC

("Elixirr", the "Company" or the "Group")

Trading Update

 

Elixirr International plc (AIM:ELIX), an established, global award-winning
challenger consultancy, is pleased to provide an update on trading for the
year ended 31 December 2021.

 

Trading through to the end of 2021 continued to be strong. The Group has
continued to support its clients to address their key challenges,
with Elixirr's services in relation to digital transformation and innovation
in high demand.

 

Subject to the completion of the audit for the year ended 31 December 2021,
the Group expects to record revenue of approximately £50.5m, above the
market expectation of £47-50m. Adjusted EBITDA is expected to be
approximately £15.5m, above the market expectation of £15.0m and within the
range of 30-32% of revenue previously announced.

 

As at 31 December 2021, the Group had no debt with cash balances in excess of
£31m.

 

The Group has continued to make good progress on all four of its strategic
growth pillars, including:

·      Stretching our current partner team - we achieved organic revenue
growth in excess of 30% during 2021, including growth of approximately 100% in
our US business

·      Promoting partners from within the firm - we have promoted two
experienced principals to partner on 1 January 2022

·      Hiring new partners - six experienced partners joined the
business over the course of 2021, with a number of them focused on
accelerating the growth of our US business

·      Buying complementary businesses - we completed the acquisition of
The Retearn Group Limited in April 2021 and are seeing good traction with
selling their procurement and self-funded transformation services into our
client base. We remain focused on inorganic growth and are continuing to
explore a number of other attractive acquisition opportunities with companies
specialising in solving Board room issues, including in the US market which is
the fastest growing part of our business.

The Directors expect further organic revenue and Adjusted EBITDA growth in
2022. A more detailed update on expectations for 2022 will be provided by the
Directors in conjunction with the release of the full year results for the
year ended 31 December 2021 on 4 April 2022.

 

For further Information please contact:

 Elixirr International plc

 Stephen Newton, CEO

 Graham Busby, CFO

 Public and Investor Relations contacts:

 Caroline Pitt                                             investor-relations@elixirr.com

 finnCap Ltd (Nominated Adviser & Sole Broker)

 Christopher Raggett, Kate Bannatyne (Corporate Finance)               +44 (0)20 7220 0500

 Alice Lane, Sunila De Silva (ECM)

About Elixirr International plc

Elixirr is an established global award-winning management consultancy,
challenging the larger consultancies by delivering innovative and bespoke
solutions to a repeat, globally-recognised client base.

Elixirr was founded in 2009, by Stephen Newton, Graham Busby, Ian Ferguson,
Andy Curtis and Mark Goodyear, experienced business advisors who identified a
market opportunity to provide bespoke, personal services as a 'challenger' to
the traditional consultancy businesses in the market. Elixirr guides its
clients to overcome challenges such as: future-proofing against technological
disruption; development and roll-out of new propositions, products and
services; incubating new businesses; navigating a more complex and
multinational regulatory environment; and project management and
implementation of major change programmes.

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.

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