Business
Half Year Results
Half Year Results.
About this update from Globaldata Plc
[{"type":"text","content":"\n\n31 July 2024\n \n\nFOR IMMEDIATE RELEASE\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\").\n \nGlobalData Plc\nHalf Year Results\n 30 June 2024\n \nContinued momentum in earnings and Adjusted EBITDA margin at 41%\n \nGlobalData Plc (AIM: DATA, GlobalData, the Group), a leading data, analytics, and insights platform, today publishes its results for the half year ended 30 June 2024 (HY24).\n \n· Continued improvement in Adjusted EBITDA1 (£57.8m, +8%) and Adjusted EBITDA margin1 (41%)\n· Underlying revenue1 growth of 5%, with foreign exchange diluting total reported revenue growth to 3% at £139.6m\n· Profit before tax grew by 13% to £26.9m (HY23: £23.9m)\n· Inflexion 40% investment into our Healthcare business is complete with gross cash proceeds of £451.4m reshaping the Group Balance Sheet\n· Proposed acquisition of digital media and industry news assets, and have completed a minority investment in technology enabled solution provider\n \nMike Danson, Chief Executive Officer of GlobalData Plc, commented: \"We have started the year well and remain confident in GlobalData's continued ability to generate sustainable value for its stakeholders. Now in the first year of our Growth Transformation Plan 2024-2026, we have been laying the foundations for future success. We are exiting this ramp-up phase of our ambitious plan in a strong position. We have made several key senior hires across the business, implemented a refreshed approach to customer proposition and invested in our go-to-market approach, strengthening our sales and AI resources.\n \nWe entered FY24 in a strong position with good traction in subscription revenue and over 80% revenue visibility and remain on track to deliver on our expectations for the full year. With the investment from Inflexion now complete, combined with a highly profitable, cash generative business model, we enter H2 in a strong financial position able to pursue growth more aggressively through organic and inorganic means, as we drive toward our target of £500m ann...