REG - NCC Group PLC - Completion of non-core Fox Crypto business

NCCAnnouncement

28/03/2025 09:30

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RNS Number : 6860C  NCC Group PLC  28 March 2025

28 March 2025

NCC Group plc

Completion of non-core Fox Crypto business

NCC Group plc (LSE: NCC, "NCC Group" or "the Group"), a people-powered,
tech-enabled global cyber security and software escrow business, announces
that, further to its announcement on 1 August 2024, has today completed the
disposal of Fox Crypto B.V. part of its European Cyber division in the
Netherlands, for total consideration at completion of €78.5m (c.£65m) to CR
Group Nordic AB, following successful satisfaction of all customary conditions
associated with the disposal.

As announced on 1 August 2024, Fox Crypto B.V. contributed revenue and EBITDA
of c.£18m and c.£4m respectively in the 12 months ended 31 May 2024 and the
consideration therefore represented a 2024 EBITDA multiple of 16.5x. Fox
Crypto was previously a standalone entity, and the disposal does not impact
the Group's continuing Cyber capabilities.

The gross proceeds will be used to repay the Group's RCF borrowings, reduce
Group net debt and facilitate growth in the Cyber Security business.  Group
net debt following this disposal as at 31 March 2025 is expected to be in the
range of NIL - £3.0m. This is consistent with previous guidance of paying
down our net debt prior to the Board's decision to buy additional shares for
our Employee Benefit Trust in December 2024 (c.£6.0m).

The disposal represents a continuation of the Group's transformation strategy
to simplify the business and create a more focused Cyber Security business.
Both our Cyber and Escode businesses provide the benefit of a portfolio effect
to the overall Group performance with clear future growth opportunities to
enhance shareholder value.

The Group is due to announce interim results for the period ended 31 March
2025 on 19 June 2025 and will be hosting an immersive cyber security
capability event on 1 May 2025.

 Contact information

 Investor enquiries:

 Yvonne Harley                                           Tel: +44(0)7824 412405

 Director of Investor Relations & Sustainability

 Email: Investor_Relations@nccgroup.com

 Media enquiries:
 H/Advisors Maitland                                     Tel: +44(0)20 379 5151

 Sam Cartwright/Katie Hughes

 Email: NCCGroup-maitland@h-advisors.global

 

About NCC Group plc

NCC Group is a people-powered, tech-enabled global cyber security and software
escrow business. Driven by a collective purpose to create a more secure
digital future, c. 2,200 colleagues across Europe, North America, and Asia
Pacific harness their collective insight, intelligence, and innovation to
deliver cyber resilience solutions for both public and private sector clients
globally. With decades of experience and a rich heritage, NCC Group is
committed to developing sustainable solutions that continue to meet client's
current and future cyber security challenges.

 

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