Slide 1: Full Year Results 2024
Full Year Results 2024 Mark Cook, Chief Executive Officer Simon Goodwin, Chief Financial Officer
Slide 2: Agenda
Agenda FY24 overview Financial review Strategy and future direction RM plc Full Year Results 2024 2
Slide 3: FY24 overview
FY24 overview Mark Cook, CEO RM plc Full Year Results 2024 3
Slide 4: FY24 overview: a year of transformation and progress
FY24 overview A year of transformation and progress towards delivering our strategy Good trading performance Adjusted operating profit improved to £8.6m (FY23*: RM Technology’s shift in focus to longer-term contract £0.3m) awards contributed to a significantly improved adjusted operating profit Adju
Slide 5: FY24 overview: a simpler and more profitable business
FY24 overview A year of transformation and progress towards delivering our strategy A s impler and more profitable business Consortium business closure leading to all parts of the group being profitable* £10.6m of further annualised cost savings achieved Improved profitability through a simplified o
Slide 6: Financial review
Financial review Simon Goodwin, CFO RM plc Full Year Results 2024 6
Slide 7: FY24 financial summary
FY24 financial summary Improved profitability through a simplified operating model, greater £166.1m operational efficiencies and a lower cost base Revenue (5.5%) £8.6m adjusted Operating Profit, compared to £0.3m last year as from continuing operations originally reported Further £10.6m of annualise
Slide 8: Summary income statement
Summary income statement FY 2024 FY 2023 Variance 1 1 £m Continuing Discontinued Total Continuing Discontinued Total Total Revenue 166.1 1.0 167.1 175.9 21.7 197.6 (30.5 ) Divisional contribution 32.8 (1.7) 31.1 32.0 (5.1) 26.9 4.2 Divisional contribution margin 19.8% n/a 18.6% 18.2% n/a 13.6% 5.0%
Slide 9: Revenue
Revenue £m £(9.8)m 195.2 -19.3 -5.1 2.5 1.5 -5.0 -5 175.9 175.9 -3.7 166.1 166.1 FY 23* Exclude FY 23 Assessment Assessment TTS TTS Technology FY 24 Originally C onsortium Excluding Legacy Platform UK International reported revenue C onsortium Assessment revenue on legacy projects down 42.9% due to
Slide 10: Divisional contribution
Divisional contribution Divisional contribution* up £0.8m £0.8m -0.5 0.1 1.2 6.5 32.0 32.8 25.5 FY 23 Exclude FY 23 Assessment TTS Technology FY 24 Originally C onsortium Continuing reported loss operations TTS contribution increased £0.1m to £8.9m. Sherwood Park distribution centre closed and opera
Slide 11: Cashflow
Cashflow £m (0.1) 3.4 51.7 5.6 45.6 4.3 £[x]m (12.5) 4.8 0.6 Adjusted* Operating Working Capex Pension Interest p aid Lease Other Adjusted* Net Debt cashflows before Capital payments Net Debt Working C apital FY23 FY24 Adjusted net debt £51.7m - better than market expectations Positive Operating Cas
Slide 12: Financial outlook and guidance
Financial outlook and guidance FY25 revenue from continuing operations expected to grow with the impact of new contracts signed in FY24, although pressure from UK schools' budgets remains Further profitability growth anticipated Revenue growth will benefit bottom line profitability Full year impact
Slide 13: Strategy and future direction
Strategy and future direction Mark Cook, CEO RM plc Full Year Results 2024 13
Slide 14: RM overview
RM overview Our customers Learners We help learners globally through their entire education journey from Early Years through to Higher Assessment TTS Technology Education and Professional A global leader in A developer and A provider of IT Qualifications. platform delivery of supplier of award- mana
Slide 15: Global customer base
Global customer base Become a trusted long-term partner through our reliable delivery, deep education domain knowledge and intuitively designed solutions that meet the needs of customers and the learners they serve RM plc Full Year Results 2024 15
Slide 16: Market dynamics
Market dynamics Operating in the high -growth global EdTech market, driven by the need to modernise learning experiences for a changing world Drivers of Growth UK Investment New tech available for Investment in EdTech in UK online & distance learning with a covid peak of $609m in 2021 Shift towards
Slide 17: Vision and drivers
Vision and drivers Building on our heritage, our goal is to become the leading global EdTech software platform, supporting clients as they transition from paper to digital and transforming the future of education Vision What we’re going to do Where we’re going to be One clear go to market Invest in
Slide 18: Strategic approach
Strategic approach 01 02 Seizing the global Empowering a opportunity lifetime of learners Capitalising on the Products and growing EdTech solutions for early market years to professionals 03 04 05 Targeting Delivering a Global Leveraging owned Accreditors, Accreditation and designed IP Educators & L
Slide 19: Global Accreditation Platform
Global Accreditation Platform Enab ling seamless, end -to -end digital assessment and marking for accreditors while driving material margin improvements for RM Single platform for Assessor Data reporting, Learner Portal: to take exams, Content authoring, & Assessment Master analytics & insights see
Slide 20: Paper to digital transformation
Paper to digital transformation The journey to digital Case study Case study – an illustrative example The International Cambridge Baccalaureate University Press & Building on our 15-year partnership with IB, RM significantly expanded our contract to include the Assessment transformational delivery
Slide 21: Further innovations and releases
Further innovations and releases 400+ developers creating tailored innovations to meet the evolving needs of accreditors, educators and learners New in 2024 2025 124 own-developed products NX Generation Services: New AI large language model: AI Proof of Concepts: launched: in key strategic revolutio
Slide 22: Portfolio roadmap
Portfolio roadmap Investing in big solutions built for accreditors and educators, with adjacent learner direct solutions FY24 FY25 FY26 Platform Full end-to-end Global Digital Accreditation Platform Accreditors Solutions Adaptive Learning Educator Solutions Managed Services Educators Educational Res
Slide 23: Future outlook
Future outlook Intention to become the leading global EdTech software platform Current trading and full year outlook in line with expectations Stronger order book and reduced cost base put the business in a more competitive position Priorities for FY25 Securing further contracts for the Global Accre
Slide 24: Thank you
Thank you RM plc Full Year Results 2024 24
Slide 25: Disclaimer
Disclaimer Forward -looking statements speak only as at the date of this Presentation . Except as required by applicable law or regulation (including to meet the requirements of the London Stock Exchange Rules, the Market Abuse Regulation as it forms part of domestic law in the United Kingdom by vir