Fdm Group (holdings) Plc · LSE:FDM
Fdm Group (holdings) — H1 2024 Earnings Presentation
19 slides from Fdm Group (holdings)'s earnings presentation, July 2024
Slide 1: Powering the people behind tech and innovation
Powering the people behind tech and innovation
Slide 2: Results for the six months ended 30 June 2024
Results for the six months ended 30 June 2024 Rod Flavell - CEO Mike McLaren - CFO
Slide 3: Highlights for the six months ended 30 June 2024
Highlights for the six months ended 30 June 2024 Revenue (£m) Adjusted Profit Before Tax (£m)¹ Adjusted PBT margin (%)¹ Profit Before Tax (£m) 179.9 25.0 26.0 29.8 152.8 22.0 16.8% 16.4% 140.5 131.3 140.2 20.2 14.4% 14.5% 17.7 12.6% 21.2 20.5 22.2 15.5 -22% -32% -1.9ppts. -48% vs H1-23 vs H1-23 vs H
Slide 4: Highlights for the six months ended 30 June 2024
Highlights for the six months ended 30 June 2024 Consultants deployed at period end -25% Consultant utilisation %¹ -1.9ppts. vs H1-23 vs H1-23 96.9% 97.3% 97.6% 97.4% 4,905 95.0% 94.8% 4,703 93.4% 92.8% 4,602 91.5% 4,033 3,892 3,841 3,656 3,580 3,469 H1-20 H2-20 H1-21 H2-21 H1-22 H2-22 H1-23 H2-23 H
Slide 5: Highlights for the six months ended 30 June 2024
Highlights for the six months ended 30 June 2024 Consultants deployed by region Consultant tenure 2,500 17% 14% 10% 12% 19% 24% 23% 20% UK 36% 2,000 27% 36% 26% 46% NA 44% 37% YR3+ 1,500 44% 53% YR2 EMEA 44% 1,000 59% YR1 54% 54% APAC 500 39% 40% 42% 32% 28% 20% - H1-20 H2-20 H1-21 H2-21 H1-22 H2-22
Slide 6: Our markets
Our markets • Consultant headcount decreased 26% from June 2023, closing UK 2022 2023 2024 24 vs 23 24 vs 22 at 1,284 • Uncertainty in the market continued into the first half of 2024 Consultants deployed 2,045 1,743 1,284 (26%) (37%) and the mix of our Consultant population shifted towards more exp
Slide 7: Our markets
Our markets • Consultant headcount decreased 9% from June 2023, EMEA 2022 2023 2024 24 vs 23 24 vs 22 closing at 326 • Consultant headcount was somewhat less impacted by Consultants deployed 295 359 326 (9%) 11% market uncertainty than the other regions we operate in as growth in Germany and Ireland
Slide 8: Headcount by industry
Headcount by industry Industries 2022 2023 2024 Banks 55% 53% 51% Financial Services 13% 14% 16% Insurance 6% 7% 7% Government 6% 6% 6% Commercial & Professional Services 3% 4% 4% 2024 Energy 3% 4% 3% Software & IT Services 5% 4% 3% Media & Entertainment 2% 3% 3% Retailing 0% 1% 1% Materials 1% 1% 1
Slide 9: FDM Practices
FDM Practices The first half of the year saw a major change in the delivery of our training, with the launch of the new FDM Practices methodology. This methodology enhances our ability to Software Engineering Change & respond to clients’ needs as they look for more specific, detailed and nuanced ski
Slide 10: Sustainability & Inclusivity
Sustainability & Inclusivity At FDM, diversity, equity and inclusivity starts at the top. It is ingrained into the FDM culture and championed by the leadership team. Gender Disability Nationalities 90+ 32% 6% 1 Identify as having nationalities of worldwide a disability working together FDM employees
Slide 11: Summary
Summary • Resilient performance in the first half against ongoing challenging market conditions, in line with the Board’s expectations • Revenue of £140.2m (2023: £179.9m) and adjusted operating profit of £17.4m (2023: £25.5m) • We incurred exceptional costs of £2.1m (2023: £nil) as we better aligne
Slide 12: Our Programmes Ex-Forces and Veterans Returners
Our Programmes Ex-Forces and Veterans H1-2023 H1-2024 • Supporting and transitioning former service personnel into tech and business Consultants 201 146 • Ex-Forces in Business Awards: Rod Flavell 1,050+ won Advocate of the Year (Individual) 2024 • Great British Employers of Veterans Top 50 List 202
Slide 13: FDM recognition
FDM recognition 11 FDM Group (Holdings) plc - Results for the six months ended 30 June 2024
Slide 14: Accreditation
Accreditation Working with our accreditation partner, TechSkills, the following courses have been awarded the Tech Industry Gold standard accreditation 12 FDM Group (Holdings) plc - Results for the six months ended 30 June 2024
Slide 15: Technology Partnerships
Technology Partnerships Our Technology Partnerships with some of the world’s most innovative organisations ensure that we are at the forefront of technological advancements 13 FDM Group (Holdings) plc - Results for the six months ended 30 June 2024
Slide 16: Income Statement
Income Statement 2024 £'000 2023 £'000 For the six months ended 30 June 2024 Revenue 140,187 179,888 Cost of sales (78,138) (96,278) Gross profit 62,049 83,610 Administrative expenses (46,759) (54,307) Which includes Exceptional items (2,064) - Operating profit 15,290 29,303 Finance income 847 709 F
Slide 17: Statement of Financial Position
Statement of 2024 2023 £'000 £'000 Non-current assets Financial Position Right-of-use assets Property, plant and equipment Intangible assets 17,337 2,191 19,512 7,897 3,399 19,552 Deferred income tax assets 366 951 As at 30 June 2024 39,406 31,799 Current assets Trade and other receivables 36,434 48
Slide 18: Statement of Cash Flow
Statement of 2024 2023 £'000 £'000 Cash Flow Cash flows generated from operations 15,867 24,348 Interest received 847 709 Income tax paid (3,782) (7,127) For the six months ended 30 June 2024 Net cash inflow from operating activities 12,932 17,930 Cash flows from investing activities Acquisition of
Slide 19: Forward-looking statements
Forward-looking statements This report contains statements which constitute “forward-looking statements”. Although the Group believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. Because