REG - Fintel PLC - Half Year Trading Update

FintelAnnouncement

31/07/2025 07:01

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RNS Number : 2641T  Fintel PLC  31 July 2025

31st July 2025
 

 

Fintel plc

 

("Fintel", the "Company", the "Business" or the "Group")

 

Half Year Trading Update

 

Completion of Planned Refinancing

 

Notice of Half Year Results

 

Fintel (AIM: FNTL), a leading provider of fintech and support services to the
UK retail financial services sector, today issues a trading update for the six
months ended 30(th) June 2025.

 

Financial highlights - strong H1 performance with positive trading momentum,
in line with expectations

 

·      Total revenue increased 18.6% to £42.4m (H124: £35.7m)
following successful acquisition strategy and new proposition launches.
£5.2m of revenue in the period is inorganic, with underlying organic growth
of 4.2%

·      SaaS & Subscription revenue was £24.2m, (H124: £20.0m), an
increase of 21.0%, driven by £3.0m inorganic growth and underlying organic
growth of 6.0%

·      Adjusted EBITDA1 growth of 17% to £11.2m (H124: £9.6m)

·      Strong balance sheet with £8.4m cash and £81.5m headroom in the
new £120m Revolving Credit Facility

·      Net debt position of £32.0m representing leverage of 1.34x after
significant investment in acquisitions, people, products and services.

 

Strategic and operational highlights - good progress in organic initiatives
and acquisition integration

 

·      Significant scaling of VouchedFor intermediary proposition with
new partnerships including Fundament, Blackrock and Time Investments

·      Launch of Defaqto Matrix 360 market and product intelligence
software with new partnerships including Zurich, RAC, Frontier, NFU Mutual and
Policy Expert

·      Appointment of Tom Hegarty as the new Chief Executive Officer
(CEO) of Simplybiz

·      Rayner Spencer Mills Research - acquisition completed on 7
January 2025, extending Defaqto's fund research and ratings platform.

 

Successful planned refinancing of, and increase in, revolving credit facility
(RCF)

 

The Board is pleased to announce the strengthening of Fintel's funding
capacity following completion of an enhanced £120m RCF and the addition of a
fourth bank to the lending panel (replacing the previous £80m RCF which was
due to be refinanced in Q3 2025):

·      Increased facility size to £120m on more favourable terms

·      Increased the term of the facility to 4 years plus a 1 year
extension call

·      Reduction in margin of 20 basis points

·      Covenant package remains unchanged with 3.0x leverage maintaining
the Board's prudent approach

·      Provides Fintel with additional financial flexibility to invest
in organic growth and selective acquisitions

 

Outlook - trading in line with expectations underpinned by positive structural
tailwinds

The UK market continues to present a compelling commercial opportunity,
supported by a dynamic, fragmented financial services sector and rising demand
for regulatory support, data, and insights. Our mortgage club and property
valuation business positions the Group well to benefit from future recovery in
the housing market. We are trading in line with expectations and remain
confident in delivering continued strategic and financial progress in 2025,
driven by the integration of recent acquisitions, synergy realisation and
sustained organic growth.

Revenue

 

The Board has decided not to pursue the sale of the property valuation
business 'Gateway Surveyors Ltd' in the near term.  As a result the
presentation of these revenues will no longer be segregated as non-core.

 

Matt Timmins, CEO of Fintel plc, said:

 

"2025 is progressing well, with strong trading in line with expectations. We
continue to take advantage of our expanded market position with a number of
new product launches and strategic partnerships across our brand portfolio.

 

We are taking significant steps to simplify our structure and support the
integration of our recent acquisitions, and the work we have done to align our
business behind our core growth drivers is also progressing well.

 

We are confident of delivering further progress in the second half of this
year and beyond, with our extensive platform positioning us strongly to
capitalise on the multiple growth opportunities available in a fragmented
retail financial services market."

 

Notice of Results

 

Fintel plc plans to release its half year results for the six months ended 30
June 2025 on 16(th) September 2025

 

Footnote.

(1)Adjusted EBITDA is earnings before interest, tax, depreciation,
amortisation, share option charges and exceptional operating costs

 

 

 

For further information, please contact:

 

 Fintel plc                                 via MHP Group

 Matt Timmins (Chief Executive Officer)

 David Thompson (Chief Financial Officer)

 Zeus (Nominated Adviser and Joint Broker)  +44 (0) 20 3829 5000

 Martin Green

 Dan Bate

 Investec Bank (Joint Broker)               +44 (0) 20 7597 5970

 David Anderson

 Kamalini Hull

 MHP Group (Financial PR)                   +44 (0) 7736 464749

 Reg Hoare / Veronica Farah                 Fintel@mhpgroup.com (mailto:Fintel@mhpgroup.com)

 Notes to Editors

 Fintel is a leading fintech and support services business, combining the
 largest provider of intermediary business support, Simplybiz, and the leading
 research, ratings and Fintech business, Defaqto.

 Fintel provides technology, compliance and regulatory support to thousands of
 intermediary businesses, data and targeted distribution services to hundreds
 of product providers and empowers millions of consumers to make better
 informed financial decisions. For more information about Fintel, please visit
 the website: www.wearefintel.com

 

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