Business
Results for the year ended 30 September 2023
Results for the year ended 30 September 2023.
About this update from Sage Group Plc
[{"type":"text","content":"\n\n\n\n\n\n\n\n\n \n\n\n\n\nThe Sage Group plc\nResults for the year ended 30 September 2023 (audited)\n22 November 2023\n\n\n\n\n \n \nStrong performance driven by consistent strategic execution\nSteve Hare, Chief Executive Officer, commented:\n\"Sage performed well in FY23, delivering double-digit revenue growth, increased profitability and strong cash flows. We sustained good momentum throughout the year in all regions, driven by consistent strategic execution.\n\"We continue to help small and mid-sized businesses succeed, providing them with the tools and expertise they need to simplify their accounting and HR processes, streamline their operations, and make more informed business decisions. Through the Sage Network, we are delivering innovative, AI-powered services to customers, faster and more efficiently than ever before.\n\"Small and mid-sized businesses are continuing to digitalise, despite the macroeconomic uncertainty. We are building a resilient platform to deliver sustained, efficient growth, and I am confident that Sage is well positioned to take advantage of the market opportunity in 2024 and beyond.\"\n\n\n\n\nUnderlying Financial APMs[1]\n\n\nFY23\n\n\nFY22[2]\n\n\nChange\n\n\nOrganic\nChange\n\n\n\n\nAnnualised Recurring Revenue (ARR)\n\n\n£2,188m\n\n\n£1,964m\n\n\n+11%\n\n\n+11%\n\n\n\n\nUnderlying Total Revenue\n\n\n£2,184m\n\n\n£1,982m\n\n\n+10%\n\n\n+10%\n\n\n\n\nUnderlying Recurring Revenue\n\n\n£2,096m\n\n\n£1,875m\n\n\n+12%\n\n\n+11%\n\n\n\n\nUnderlying Operating Profit\n\n\n£456m\n\n\n£386m\n\n\n+18%\n\n\n+22%\n\n\n\n\n % Operating Profit Margin\n\n\n20.9%\n\n\n19.5%\n\n\n+1.4 ppts\n\n\n+2.2 ppts\n\n\n\n\nEBITDA\n\n\n£553m\n\n\n£477m\n\n\n+16%\n\n\n\n\n\n\n\n % EBITDA Margin\n\n\n25.3%\n\n\n24.1%\n\n\n+1.2 ppts\n\n\n \n\n\n\n\nUnderlying Basic EPS (p)\n\n\n32.3p\n\n\n26.4p\n\n\n+22%\n\n\n\n\n\n\n\nUnderlying Cash Conversion\n\n\n116%\n\n\n107%\n\n\n+9 ppts\n\n\n\n\n\n\n\nStatutory Measures\n\n\nFY23\n\n\nFY22\n\n\nChange\n\n\n \n\n\n\n\nRevenue\n\n\n£2,184m\n\n\n£1,947m\n\n\n+12%\n\n\n\n\n\n\n\nOperating Profit\n\n\n£315m\n\n\n£367m\n\n\n-14%\n\n\n\n\n\n\n\n % Operating Profit Margin\n\n\n14.4%\n\n\n18.9%\n\n\n-4.5 ppts\n\n\n \n\n\n\n\nBasic EPS (p)\n\n\n20.7p\n\n\n25.5p\n\n\n-19%\n\n\n\n\n\n\n\n...