REG - IDOX PLC - Half Year 2025 Trading Update

IdoxAnnouncement

Thu 07:00

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RNS Number : 6782J  IDOX PLC  22 May 2025

22 May 2025

Idox plc

('Idox' or the 'Group' or the 'Company')

Half Year 2025 Trading Update

Positive momentum continues with good first half performance

 

Idox plc (AIM: IDOX), a leading supplier of specialist information management
software and geospatial data solutions to the public and asset-intensive
sectors, today issues a trading update for its financial half year ended 30
April 2025 ('FY25 H1').

Group trading performance

 

We are pleased to report that the Group has delivered good growth during the
first six months of the year, generating overall revenue of c.£45.0m (HY24:
£43.1m). The Group delivered solid recurring revenue growth of c.9% which was
partially offset, as anticipated, by lower non-recurring revenue. Adjusted
EBITDA(1) increased by over 6% to c.£13.9m (HY24: £13.1m), in line with the
Board's expectations.

 

The Group recorded a c.9% increase in order intake to c.£59.0m (HY24:
£54.1m) with key new wins for the Assets division and our geospatial data
solutions, providing increased levels of recurring revenue visibility across
all divisions for the remainder of FY25 and into FY26.

 

The Group continued to generate strong cash flows during the period and ended
the half with a net cash(2) position of c.£0.2m compared to a net debt
position of £9.9m as at 31 October 2024.

 

David Meaden, Chief Executive Officer of Idox commented:

 

"The Group has delivered a positive performance during the first half, in line
with the Board's expectations, with good revenue and adjusted EBITDA growth as
well as solid order intake providing good future visibility.

 

We have significantly reduced our net debt since the end of FY24 to a net cash
position as we continue to drive positive cash performance in the business.

 

Our M&A pipeline is healthy, and we were pleased to complete the
acquisition of Plianz shortly after the half year end to strengthen our
existing Social Care offering and build on our strong public sector software
capabilities. We remain confident of adding to our existing portfolio of
specialist software and geospatial data solutions to deliver further
profitable growth.

 

We are pleased with our progress and positive momentum and are confident that
Idox is well positioned for growth in the remainder of 2025."

 

Notice of half year results

 

The Group expects to report its FY25 H1 results on Thursday 12 June 2025.
Management will host a results webinar on the day. Please contact MHP to
register your interest.

 

(1) Adjusted EBITDA is defined as earnings before amortisation, depreciation,
restructuring, acquisition costs, impairment, financing costs and share option
costs.

 

(2) Net cash / (debt) is defined as the aggregation of cash, bank borrowings
and long-term bond. This differs from a similar measure under IFRS, which
would also include lease liabilities as debt. The definition used is
consistent with that used within the Group's banking arrangements.

 

 

For further information please contact:

 

 Idox plc                               +44 (0) 333 011 1200
 Chris Stone, Non-Executive Chairman    investorrelations@idoxgroup.com
 David Meaden, Chief Executive Officer
 Anoop Kang, Chief Financial Officer

 Peel Hunt LLP (NOMAD and Broker)       +44 (0) 20 7418 8900
 Benjamin Cryer
 Kate Bannatyne
 Adam Telling

 MHP                                    + 44 (0) 7855 447944
 Reg Hoare                               idox@mhpgroup.com (mailto:idox@mhpgroup.com)
 Ollie Hoare
 Matthew Taylor
 Finn Taylor

For more information see www.idoxplc.com
(https://protect.checkpoint.com/v2/___http:/www.idoxplc.com/___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzpjOGY4ODhhNDk2MGFiNWZjODBiOGU4NTI4ZWI2ZDk5Mzo2OjNjY2I6MGMyZWI1YjAzNTY4Yzc1NWQ5MDk1MWJkNjdjN2M0MTQ1OGU0N2UxNDlhMDVmMTZiNmJjMzg2MTY0NjAzYWFjYjpwOkY6Tg)
@Idoxgroup

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