Slide 1: Idox plc
Idox plc Half Year Ended 30 April 2024 11 June 2024
Slide 2: Idox at a glance: software that drives efficiency
Idox at a glance: software that drives efficiency Our specialist software solutions, built on insight, power the performance of government and industry, driving productivity and a better experience for everyone. Land, Property & Public Community Solutions Assets Protection Regulatory Services Electi
Slide 3: H1 FY24 highlights: A strong performance in line with expectations
H1 FY24 highlights: A strong performance in line with expectations Delivering profitable growth Strong foundations, focus on the future Revenue up 21% to £43.1m (H1 We are developing the Group’s geospatial FY23: £35.8m) division and capabilities to meet new growth opportunities over the next decade.
Slide 4: Financial review
Financial review Anoop Kang Financial Year Ended 31 October 2023
Slide 5: Financial highlights H1 FY24 Strong first half performance
Financial highlights H1 FY24 Strong first half performance £43.1m £28.9m £13.1m H1£73.3m FY23: £35.8m LPPP Revenue +35% H1 FY23: £12.1m FY22: £66.2m Revenue Adjusted EBITDA Revenue +21% £7.1m +8% +11% Assets Revenue £27.4m £43.6m (1)% 30% H1 FY23: £21.2m H1 FY23: 34% FY22: £40.5m Recurring Revenue £
Slide 6: Delivering long-term sustainable growth
Delivering long-term sustainable growth Revenue (£m) Recurring revenue (£m) • Overall Group revenue up 21% since H1 FY23 73.3 • Good levels of growth 66.2 delivered over this 43.6 62.2 period 40.5 57.3 +21% YoY • LPPP continues to be 35.7 36.3 +29% YoY the major driver for growth 43.1 27.4 • Organic
Slide 7: Focus on quality work, delivering profitable growth
Focus on quality work, delivering profitable growth Group order intake (£m) Adjusted EBITDA (£m) 24.5 82.4 22.5 74.7 +4% YoY • Order intake of 19.5 £54.1m in H1 FY24 +8% YoY 62.9 17.2 54.1 • 4% growth in order 52.0 intake since H1 FY23 13.1 12.1 • Adjusted EBITDA of £13.1m in H1 FY24 • Adjusted EBIT
Slide 8: Financial review Land, Property & Public Protection
Financial review Land, Property & Public Protection Group contribution Revenue (£m) Adjusted EBITDA (£m) Revenue 43.4 35.1 67% 30.6 19.1 28.9 25.2 13.2 13.0 21.5 11.3 13.9 9.7 13.2 EBITDA 11.2 9.8 9.2 24.3 7.8 7.7 21.9 17.6 17.6 15.5 11.7 70% FY20 FY21 FY22 FY23 H1 FY23 H1 FY24 FY20 FY21 FY22 FY23 H
Slide 9: Financial review Assets
Financial review Assets Group contribution Revenue (£m) Adjusted EBITDA (£m) Revenue 16.1 15.8 14.8 14.9 16% 5.4 5.9 5.1 5.2 7.2 7.1 EBITDA 2.4 2.4 4.6 4.5 10.7 4.2 4.2 9.9 9.7 9.7 4.8 4.7 1.8 12% 1.6 FY20 FY21 FY22 FY23 H1 FY23 H1 FY24 FY20 FY21 FY22 FY23 H1 FY23 H1 FY24 Recurring Non-Recurring A s
Slide 10: Financial review Communities
Financial review Communities Group contribution Revenue (£m) Adjusted EBITDA (£m) Revenue 17% 16.3 16.0 15.8 15.0 6.5 7.4 7.0 5.4 7.1 7.1 6.4 EBITDA 5.2 2.4 2.1 4.8 18% 9.5 9.6 3.7 8.8 8.9 2.6 2.3 4.7 5.0 FY20 FY21 FY22 FY23 H1 FY23 H1 FY24 FY20 FY21 FY22 FY23 H1 FY23 H1 FY24 Recurring Non-Recurring
Slide 11: Financial review Net debt movement
Financial review Net debt movement Strong operating cash conversion rate at 149% Half Year Ended 30 April 2024 10
Slide 12: Financial review Guidance & outlook
Financial review Guidance & outlook Revenue growth Adj. EBITDA margin Cash Increased facilities £75m RCF and £45m Continued strong cash Targeting 35% in the medium accordion providing the Group Double digit revenue growth generation reducing net debt term with significant resources for and leverage
Slide 13: Strategy and Operations
Strategy and Operations David Meaden Half Year Ended 30 April 2024
Slide 14: Fortifying the foundations: Delivering operational growth
Fortifying the foundations: Delivering operational growth New Accretive M&A LPPP & Markets, product Geospatial & customers LG, Cloud, exeGesIS, Address Management Strategic Emapsite, Thinkwhere & Landhawk Digital & Data Services Land, + substantive Property & Software & data Public Operational curat
Slide 15: Wins and renewals in the first half
Wins and renewals in the first half 67% 16% 17% Land, Property & Public Protection Assets Communities and Geospatial Half Year Ended 30 April 2024 14
Slide 16: Our Four Pillars Good progress in the first half
Our Four Pillars Good progress in the first half Revenue Growth • Idox Cloud seeing both significant Recurring Revenue growth (>20%) and Order Intake growth (+48%). • Significant revenue growth in Address Management Solutions, supported by new customer acquisitions and expansion into adjacent market
Slide 17: Our Four Pillars Good progress in the first half
Our Four Pillars Good progress in the first half Communications • Hybrid working is being embraced, combining open and engaging environments with effective collaboration. • New offices in Belfast. • Substantive return to the office planned in India to support peer learning and collaborative working
Slide 18: M&A Strategy: Accelerating growth and adding scale
M&A Strategy: Accelerating growth and adding scale • Established track record – proven ability to execute and integrate value accretive acquisitions • Healthy M&A pipeline with positive leads on a number of strategic targets • Operational cash generation and refinancing in October 2023 provide signi
Slide 19: Strong Track Record of Executing and Integrating Acquisitions
Strong Track Record of Executing and Integrating Acquisitions Aug Jun Oct Aug 2019 2021 2021 2023 Acquired Emapsite, Acquired Tascomi, Acquired Aligned Assets, UK- Acquired Exegesis, UK-based UK-based provider of UK-based provider of based provider of location and provider of spatial data geospatial
Slide 20: Geospatial: A sector with significant opportunities
Geospatial: A sector with significant opportunities We believe the next decade will bring significant opportunities for Geospatial software and data, allowing for extensive growth on our Geospatial revenue. Our expertise in location intelligence and geospatial data management enables us to provide t
Slide 21: Collaboration with National Collection of Aerial Photography
Building on our success Collaboration with National Collection of Aerial Photography • Geospatial division • The digitised images support environmental monitoring, urban planning, and historical research by providing a detailed dataset for tracking changes over time and uncovering insights into past
Slide 22: National Geospatial Data Integration with Idox's Uniform
Building on our success National Geospatial Data Integration with Idox’s Uniform • Land, Property & Public Protection division • Supporting the Scottish Government and Spatial Information Service (SIS) by creating a national geospatial dataset through the One Scotland Gazetteer (OSG) and Spatial Hub
Slide 23: Ensuring Seamless Election Processes
Building on our success: Communities Ensuring Seamless Election Processes • Idox is ready to support the upcoming elections by ensuring a transparent, efficient, and accurate electoral process through our Postal Vote Management Systems. • Idox's election management services are used both in the UK a
Slide 24: Collaboration with Deep Sea Development Services
Building on our success: Assets Collaboration with Deep Sea Development Services • FusionLive provides effective and safe document control across an extensive array of partners. • Tighter project management, reduced delays, and increased productivity. • Idox deep technical knowledge, rapid implement
Slide 25: Conclusion
Conclusion David Meaden Half Year Ended 30 April 2024
Slide 26: Positive momentum continues
Positive momentum continues We operate in attractive markets, with strong market positions and insights, and we We will continue to invest Attractive M&A pipeline Strong performance for are confident that selectively to enhance and grow our capabilities, with significant financial resources. the fir
Slide 27: Q&A
. idox Q&A
Slide 28: Appendix
. idox Appendix
Slide 29: Appendix: Segmental revenue & EBITDA summary
Appendix: Segmental revenue & EBITDA summary Revenue Land, Property & Public Protection Assets Communities Total 17% H1 FY23 H1 FY24 H1 FY23 H1 FY24 H1 FY23 H1 FY24 H1 FY23 H1 FY24 16% Recurring revenue £m 11.7 17.6 4.8 4.7 4.7 5.0 21.2 27.4 67% Non-recurring revenue £m 9.8 11.3 2.4 2.4 2.5 2.1 14.6
Slide 30: idox
idox