Business
S4 Capital Q1 2025 Trading Update
S4 Capital Q1 2025 Trading Update.
About this update from S4 Capital Plc
[{"type":"text","content":"\n\n\n \n8 May 2025\n \nS4Capital plc\nFirst Quarter Trading Update\n(\"S4Capital\", \"the Company\" or \"the Group\")\n \nFirst quarter like-for-like3 net revenue2 down 11.4%, reported down 12.2%, reflecting continuing technology client caution and headwind from one key client in Technology Services\nConstant currency net revenue and operational EBITDA1,7 full year targets unchanged and expected to be broadly similar to 2024, with greater second half weighting than last year and usual, reflecting the timing of revenue from significant new business\nNet debt6 £144.8 million at first quarter end versus £206.0 million at first quarter end last year and target for the end of 2025 remains a range of £100-140 million\nContinued focus on larger, scaled relationships, pricing, billability and margin improvement\nTariffs create short-term uncertainty, but opportunity for long-term technology adoption, particularly AI, to implement greater efficiency in a slower growth world\n \nKey financials\n\n\n\n\n£ millions\n\n\nThree months ended\n31 March 2025\n\n\nThree months ended\n31 March 2024\n\n\n\n\n\n\n\n\nchange Reported\n\n\nchange Like-for-like3\n\n\nchange Pro-forma4\n\n\n\n\nBillings5\n\n\n463.3\n\n\n430.1\n\n\n \n\n\n \n\n\n7.7%\n\n\n8.6%\n\n\n8.6%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nMarketing Services\n\n\n162.6\n\n\n185.9\n\n\n\n\n\n\n\n\n(12.5%)\n\n\n(11.3%)\n\n\n(11.3%)\n\n\n\n\nTechnology Services\n\n\n15.5\n\n\n24.3\n\n\n\n\n\n\n\n\n(36.2%)\n\n\n(36.5%)\n\n\n(36.5%)\n\n\n\n\nTotal\n\n\n178.1\n\n\n210.2\n\n\n\n\n\n \n\n\n(15.3%)\n\n\n(14.3%)\n\n\n(14.3%)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNet revenue\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nMarketing Services\n\n\n148.3\n\n\n162.2\n\n\n\n\n\n\n\n\n(8.6%)\n\n\n(7.5%)\n\n\n(7.5%)\n\n\n\n\nTechnology Services\n\n\n15.4\n\n\n24.2\n\n\n\n\n\n\n\n\n(36.4%)\n\n\n(36.9%)\n\n\n(36.9%)\n\n\n\n\nTotal\n\n\n163.7\n\n\n186.4\n\n\n\n\n\n\n\n\n(12.2%)\n\n\n(11.4%)\n\n\n(11.4%)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNet revenue by Geography\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nAmer...