Cerillion Plc · LSE:CER
Cerillion — H1 2026 Earnings Presentation
25 slides from Cerillion's earnings presentation, Jun 1, 2026
Slide 1: Cerillion plc Interim Results
Cerillion plc Interim Results for the half-year to 31 March 2026 1 June 2026 1
Slide 2: Presentation Team
PRESENTATION TEAM Louis Hall Greg Price Founder & CEO CFO Led the MBO of the original business Joined Cerillion in May 2026 as CFO. from Logica plc in 1999 and the IPO of Cerillion in 2016. Over 20 years’ experience in senior finance roles. Previously CFO at AIM- Over 30 years’ experience in
Slide 3: Key Highlights
KEY HIGHLIGHTS For the six months to 31 March 2026 > Largest ever contract win helped to deliver record new orders - New orders more than doubled to £39.6m (H1 2025: £19.6m) - £42.5m contract win in Q2 with Omantel (5-year term) > Back-order book up 64% to record £82.1m at 31 March 2026 (31 March 20
Slide 4: Operations
OPERATIONS > Major new implementations: - Ucom (major telecommunications provider in Armenia) Delivery of this $11.4m contract, signed in January 2025, progressing well Major Transformation Project Initial delivery phases completed, cutover scheduled for autumn - Omantel (Oman’s largest telecommunic
Slide 5: Cerillion at a Glance
CERILLION AT A GLANCE Mission critical BSS/OSS1 software for the global telecoms market H1 2026 REVENUE c.70 customer installations 1. Business Support Systems / Operations Support Systems across c.45 countries £18.0m (H1 2025: £20.9m) H1 2026 ADJ PBT £5.5m (H1 2025: £9.3m) c. 395 staff UK c. 130 In
Slide 6: BSS/OSS - Monetising Network Infrastructure
BSS/OSS - MONETISING NETWORK INFRASTRUCTURE Business Support Operations Support Systems (BSS) Systems (OSS) Digital Engagement Planning Product Offerings Capacity Management Infrastructure Customers Sales Service Connection Network Work-flow Work-flow Customer Care Balance Management Billing Chargin
Slide 7: Cerillion Product Suite
CERILLION PRODUCT SUITE @ Dealer Portal ® seirs * Dealer Sales 3 elf Service #4 =CRM Plus * D mo : os scommeroe Mobile App Omni-channel * Account Management * Android / iOS Apps Lead & Opportunity Mgt * Service Management + Account & Service Mgt Configure-Price-Quote (CPQ) + Composable Digital Exper
Slide 8: Product Solution Delivery Model
PRODUCT SOLUTION DELIVERY MODEL Software-as-a-Service MANAGED Pre-integrated BSS/OSS modules SERVICE SUPPORT Common product for all customers LICENSE End-to-end or modular delivery MODULAR PRIVATE CLOUD PUBLIC CLOUD ENTERPRISE Large transformation projects PRODUCT SUITE Cloud or on-premise deploymen
Slide 9: Global Customer Base
GLOBAL CUSTOMER BASE 1-Jun-26 Commercial-In-Confidence Diverse customer base across c.45 countries 9
Slide 10: BSS/OSS Market Size
BSS/OSS MARKET SIZE 70 4.4% CAGR 60.4 60 “The combined telco software solution market will grow 50 from $48.7 billion in 2024 to $60.4 billion in 2029 as telcos 48.7 invest in the systems that will provide new levels of 40 automation consistent with their commitment to embrace $bn AI and automation
Slide 11: High Barriers to Entry
HIGH BARRIERS TO ENTRY AI is suited to building solutions that are good approximations of relatively simple sets of requirements (probabilistic) and not suitable where requirements must be met exactly (deterministic) 20+ years R&D Access to the for a full suite right resources solution Investment Ex
Slide 12: Competitor Consolidation
COMPETITOR CONSOLIDATION CSG Optiva Matrixx Comarch KEY COMPETITORS ACQUIRED BY NETCRACKER ACQUIRED BY QUANTEL ACQUIRED BY AMDOCS TAKEN PRIVATE BY CVC Full-suite competitor Full-suite competitor Last standalone Full-suite competitor charging competitor WHY WE WIN True product model/SaaS de
Slide 13: H1 2026 KPIs
H1 2026 KPIs Six months to 31 March 2026 Revenue (£m) Adj PBT1 (£m) Adj EBITDA margin2 (%) 10.5 22.5 48.9 20.5 20.9 9.2 9.3 44.9 48.9 47.7 18.0 37.6 16.1 34.5 6.3 12.8 5.5 3.8 2021 2022 2023 2024 2025 2026 2021 2022 2023 2024 2025 2026 2021 2022 2023 2024 2025 2026 Recurring3 & annualised term licen
Slide 14: H1 2026 Financial Highlights (Unaudited)
H1 2026 FINANCIAL HIGHLIGHTS (UNAUDITED) £m H1 2026 H1 2025 New orders 39.6 19.6 New orders up 102% to record high of £39.6m, including largest ever contract win (H1 2025: £19.6m) Back-order book1 82.1 50.2 Back-order book up 64%, a new high of £82.1m (31 March Total revenue 18.0 20.9 2025: £50.
Slide 15: Cash Generation
CASH GENERATION £m H1 2026 H1 2025 Adj. EBITDA 6.2 10.0 Free cash flow used to fund payment of dividends and leases Decrease/(increase) in working capital (2.1) (0.9) Cash generated from operations 4.1 9.1 Company continued to generate positive cash flows, despite impact of revenue phasing Capit
Slide 16: Summary Consolidated Income Statement
SUMMARY CONSOLIDATED INCOME STATEMENT Unaudited Unaudited £’000 H1 2026 H1 2025 Total revenue 18,012 20,915 Continued investment in R&D with c. 9,000 days worked in H1 26, an increase of 7% Cost of sales (4,358) (4,060) Gross profit 13,654 16,855 Gross profit margin decrease mainly reflected rev
Slide 17: Summary Consolidated Balance Sheet
SUMMARY CONSOLIDATED BALANCE SHEET Unaudited Unaudited £’000 Consolidated H1 2026 H1 2025 Non-current assets Goodwill 2,053 2,053 Balance sheet remains very strong with net cash of Other intangible assets 3,459 2,969 £32.5m Property, plant and equipment 692 552 Right of use assets 2,381 3,192 Othe
Slide 18: New Logo Sales Pipeline, New Orders and Back-Order
NEW LOGO SALES PIPELINE, NEW ORDERS AND BACK-ORDER As at 31 March 2026 Prospective Customers New Orders (£m) Unweighted (£m)1 261 271 39.6 254 212 172 20.2 19.6 15.3 10.9 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 Prospective Customers Back-order Book (£m)2 Weighted (£m)1 55 53 55 82 42 35 47
Slide 19: Summary and Outlook
SUMMARY AND OUTLOOK > Omantel win is a step change in contract scale Net cash (£m) 31.2 32.5 - Further proof point to support further deals with larger telcos 23.6 26.6 16.5 - Opens up further opportunities in the region 7.7 > H1 results reflect the weighting of expected licence extensions/renewals
Slide 20: Supplementary Information
Supplementary Information • Capital Allocation Policy • Board of Directors • Major Shareholders • Summary Consolidated Cash Flow Statement • Financial Summary 20
Slide 21: Board of Directors
BOARD OF DIRECTORS Alan Howarth Louis Hall Greg Price Guy O’Connor Mike Dee Chairman CEO CFO Non-executive Director Non-executive Director Alan Howarth was a partner in Louis Hall is the CEO and Greg joined Cerillion as CFO in Guy is a co-founder of Mike Dee served as CEO of Ernst & Young where he f
Slide 22: Major Shareholders
MAJOR SHAREHOLDERS1 as at 23 April 2026 MAJOR SHAREHOLDERS % MAJOR SHAREHOLDERS % Louis Hall 20.12 Danske Capital Management 1.41 Gresham House Asset Management 10.55 BlackRock Investment Management 1.19 Rathbone Investment Management 7.36 Brooks Macdonald Asset Management (EO) 1.17 JPMorgan Asset M
Slide 23: Capital Allocation Policy
CAPITAL ALLOCATION POLICY Maximising shareholder returns Organic growth Strategic Other Dividend policy investments considerations Continued Progressive dividend Strategic investments Maintain strong investment to: policy: to support longer term balance sheet to enhance offering growth support str
Slide 24: Summary Consolidated Cash Flow Statement
SUMMARY CONSOLIDATED CASH FLOW STATEMENT Unaudited Unaudited H1 2026 H1 2025 Consolidated (£’000) Operating cash flows before movements in working capital 6,207 9,975 (Increase) / decrease in trade and other receivables (2,303) (1,508) Increase / (decrease) in trade and other payables 207 676 Cash f
Slide 25: Financial Summary
FINANCIAL SUMMARY Long-Term Track Record (£m) £m 43.8 45.4 39.2 32.7 26.1 23.1 20.8 20.7 17.4 18.8 18.1 14.8 16.0 14.0 13.8 10.5 4.6 5.8 2.9 3.1 3.6 3.9 FY2015 FY2016 FY2017 FY 2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Revenue Adjusted EBITDA 25