Business
Full Year Report for year ended 31 December 2023
Full Year Report for year ended 31 December 2023.
About this update from Alfa Financial Software Holdings Plc
[{"type":"text","content":"\n\n14 March 2024\nAlfa Financial Software Holdings PLC\n \nFull Year Report for the year ended 31 December 2023\n \nStrong subscription growth driving revenue and TCV\n \n \nAlfa Financial Software Holdings PLC (\"Alfa\" or the \"Company\"), a leading developer of software for the asset finance industry, today publishes its audited results for the twelve months ended 31 December 2023 (\"the period\").\n \nFinancial summary\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nResults\n\n\nYears ended 31 December\n\n\nMovement\n\n\n\n\n£m, unless otherwise stated\n\n\n2023\n\n\n2022\n\n\n%\n\n\n\n\nRevenue\n\n\n102.0\n\n\n93.3\n\n\n9%\n\n\n\n\nOperating profit\n\n\n30.1\n\n\n29.6\n\n\n2%\n\n\n\n\nProfit before tax\n\n\n29.6\n\n\n28.9\n\n\n2%\n\n\n\n\nEarnings per share - basic (p)\n\n\n7.99\n\n\n8.24\n\n\n(3)%\n\n\n\n\nEarnings per share - diluted (p)\n\n\n7.90\n\n\n8.09\n\n\n(2)%\n\n\n\n\nSpecial dividend declared per share (pence)\n\n\n2.0\n\n\n1.5\n\n\n33%\n\n\n\n\nProposed ordinary dividend (p)\n\n\n1.3\n\n\n1.2\n\n\n8%\n\n\n\n\n \n \n\n\n\n\n£m\n\n\n2023\n\n\n2022\n \n\n\nMovement %\n\n\n\n\nCash\n\n\n21.8\n\n\n18.7\n\n\n17%\n\n\n\n\nSpecial dividends paid in the year (p)\n\n\n5.5\n\n\n6.5\n\n\n(15)%\n\n\n\n\n \n \n\n\n\n\nKey measures (1)\n\n\n2023\n\n\n 2022\n\n\nMovement\n\n\n\n\n£m, unless otherwise stated\n\n\n \n\n\n \n\n\n%\n\n\n\n\nRevenue - constant currency\n\n\n102.0\n\n\n93.3\n\n\n9%\n\n\n\n\nCash generated from operations\n\n\n39.2\n\n\n34.0\n\n\n15%\n\n\n\n\nOperating free cash flow conversion (%)\n\n\n115%\n\n\n102%\n\n\n13%\n\n\n\n\nTotal Contract Value (TCV)\n\n\n165.3\n\n\n142.9\n\n\n16%\n\n\n\n\n \n(1) See definitions section for further information regarding calculation of measures not defined by IFRS.\n \nFinancial highlights:\n· Revenue up 9% versus 2022, driven by subscription revenues up 16%\n· Operating profit up 2% on 2022 as we invested in the platform to deliver the pipeline\n· Record TCV of £165.3m up 16% (2022: £142.9m)\n· Very strong cash generation with 115% free cash flow conversion\n· Robust balance sheet position with £21.8m of cash and no bank debt\n· Spe...