Tpximpact Holdings Plc · LSE:TPX
Tpximpact — The Panoply Holdings — FY2021 Earnings Presentation
38 slides from Tpximpact's earnings presentation, 2021
Slide 1: Full Year Results
Full Year Results 12 months ended 31st March 2021 Impactful digital transformation, responsibly delivered, at scale. 11
Slide 2: Disclaimer
Full Year Results Disclaimer This presentation and the information contained in it does not constitute a prospectus or admission document relating to The Panoply Holdings Limited (the “Company”) and has not been approved by the UK Listing Authority, the Financial Conduct Authority or any other regul
Slide 3: Agenda
Full Year Results Agenda FY21 Summary Neal Gandhi Financials & ESG Oliver Rigby Business Overview & Outlook Neal Gandhi Q&A 3
Slide 4: FY21 Summary
Full Year Results FY21 Summary Neal Gandhi 4
Slide 5: F2021 Summary
F2021 Summary 2021 preliminary results Extraordinary growth in an extraordinary year Revenue Adjusted EBITDA Earnings per share* Cash 62% 87% 69% 106% cash conversion to £51.1m to £7.1m to 6.1p £5.7mat bank (FY2020: £31.5m) (FY2020: £3.8m). Organic like-for-like (FY2020: 3.6p) *adjusted diluted at 3
Slide 6: Covid-19 - Playing Our Part
F2021 Summary Covid-19 - Playing Our Part Our primary goal from the date when we first identified a risk Our values-led principles that guided our from Covid-19 in January 2020 was to maintain employment decision making during the pandemic: for our people, supporting them and their families through
Slide 7: Our impact
F2021 Summary Our impact Holocaust The Climate Educational Group Trust Department for Digital, Culture, Media & Sport Defra Impactful Camden work NHS Jobs Beacon Covid-19 Home responsibly Testing delivered Service Rural Payments Agency National at scale Competition Crime and Markets Agency Authority
Slide 8: The Panoply and Our Market
F2021 Summary The Panoply and Our Market We primarily operate in the UK Software and IT Services market which is worth £51.8bn, of which public sector is £12.1bn. 71% of revenues are from the public services with 29% attributed to commercial. Some of our clients
Slide 9: Organic growth in FY2021
FY2021 Summary Organic growth in FY2021 19% like for like organic growth 11 customers more than £1m (target range 10-15%) (6 in 2020) £176k average spend of 290 customers 4 contracts signed over £3m billed in 2021 (0 in 2020) (£119k in 2020) 9 9
Slide 10: Acquisitive growth in FY2021
FY2021 Summary Acquisitive growth in FY2021 Public services SITS by activity* Heritage Vs New solutions* Public services SITS by subsector* Operations £6.1bn Heritage £8.4bn Central £4.9bn £2.6bn Software £2.6bn £2.2bn Local £2.2bn £8.4bn Health £1.9bn £1.9bn £6.1bn Solutions £2.6bn New £3.7bn £2.6b
Slide 11: Financial and ESG results
Full Year Report Financial and ESG results Oliver Rigby 11
Slide 12: Financial Results
Financials Financial Results Strong Revenue and EBITDA Growth Revenue Gross profit Adjusted EBITDA Adj EBITDA Margin Adj Profit After Tax 62% 34.2% 87% 16.6% 85.2% to £51.1m to £16.1m to £7.1m to 14% to £5.0m (2020: £31.5m) (2020: £12.0m) (2020: £3.8m) (2020: 12%) (2020: £2.7m) Like for like organic
Slide 13: ESG Results
Financials ESG Results Delivering sustainable futures Employee New jobs* Women in D&I gaps Charities investment workforce closed supported £24m+ 73 48% 72% 50 Entrepreneurs Hours Increase tCO2e by Revenue from incubated donated £1m rev controversial emissions sectors measured 82% 23% 5 to 1,654 8x t
Slide 14: Our commercial vision for 2023
Financials Our commercial vision for 2023 Commercial Ambitions 2021 Progress 1 10% to 15% organic revenue growth per annum 19% organic revenue growth c.70% of operating profit to drop through into 106% OP to cash flow 2 positive cash flow to generate significant cash £5.1m cash generated from operat
Slide 15: Our ESG vision for 2023
Financials Our ESG vision for 2023 Impact Ambitions 2021 Progress Close the gaps. Decreasing pay gaps, People Made progress in closing 72% of gaps* representation gaps and gaps in inclusivity. Leave no Trace. Measuring and offsetting our Invested in software to collect data and Planet historic footp
Slide 16: Revenue and EBITDA Growth Graphic
Financials Revenue and EBITDA Growth Graphic Statutory growth of 62% Statutory growth of 87% Like for like organic growth of 19% Like for like organic growth of 31% 16
Slide 17: Adjusted EBITDA to adjusted profit after tax
Financials Adjusted EBITDA to adjusted profit after tax 17
Slide 18: Cash Flow
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Slide 19: Revenue Breakdown
Financials Revenue Breakdown 5% 23% 53% 20% *Recurring:- rolling contracts *Repeat: - clients billed in prior years 19
Slide 20: Income Statement (Statutory)
Financials Income statement FY2021 FY2020 £’000 Statutory Statutory Income Statement Revenue 51,097 31,533 (Statutory) Gross Profit 16,129 12,007 Adj EBITDA pre central costs 9,305 5,722 Strong revenue growth of 62% compared to prior year on a statutory basis and 19% on an Central costs (2,204) (1,8
Slide 21: Adjusted Profit Before Tax Reconciliation
Financials Adjusted Profit Before Profit after tax £’000 FY2021 FY2020 Tax Reconciliation Statutory loss before tax (1,845) (3,140) Amortisation of intangibles relating to Directors believe that an ‘adjusted profit acquisitions 2,458 1,558 before tax’ measure is more representative of the underlying
Slide 22: Adjusted Earnings Per Share
Financials Adjusted Earnings Per Adjusted EBITDA £’000 FY2021 FY2020 Share Weighted average basic shares 63,784 48,162 Due to the acquisitive nature of the Group and Max shares to be issued - share its earn out model, an adjusted share count options 4,436 3,885 for the purposes of calculating earnin
Slide 23: Statement of Financial Position
Financials Balance Sheet FY2021 FY2020 Statement of Financial £’000 Position Goodwill 53,323 35,672 Intangible assets 29,370 8,591 Acquisition of Keep IT Simple, Difrent and Arthurly Tangible assets 737 1,334 Arthurly was acquired on 9 June 2020 for initial consideration of £0.4m via a combination o
Slide 24: Business Overview and Outlook
Full Year Results Business Overview and Outlook Neal Gandhi 24
Slide 25: Our beginning, Our present, Our future
Business Overview and Outlook Our beginning Our present Our future Journey to IPO Achieving critical mass Leveraging our scale We started with a powerpoint deck We have brought complementary We are setting out a bolder, more and a shared belief that; smaller companies together to ambitious vision fo
Slide 26: Our Vision for 2025 / Impactful work
Business Overview and Outlook Our Vision for 2025 / Impactful work Radically improving the services that matter Impactful digital transformation, responsibly delivered, at scale. / Sustainable futures / Commercial growth Building sustainable futures Scaling our impact through for our people, planet
Slide 27: Our Vision for 2025
Business Overview and Outlook To achieve a run rate revenue of £200m (£150m public sector, £50m Private sector) by March 2025 Deliver 10-15% organic revenue growth per annum To make further earnings enhancing acquisitions to meet this revenue goal Our Vision for 2025 To become a top 20 public sector
Slide 28: Current Trading Strong start to FY2022
Business Overview and Outlook Current Trading Strong start to FY2022 . Record performance for the Significant new contract wins Acquisition of Nudge Group in Q1 FY22. We now were secured in the quarter expect revenue and EBITDA for with a value of £18.6m Digital FY22 to be significantly Of which, £1
Slide 29: Q&A
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Slide 30: Thank you
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Slide 31: Appendix
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Slide 32: Northern Ireland Border
Case Study Radically improving the services that matter Northern Ireland Border What was the service? How did we improve it? KITS have designed and built the entire application Electronic Health Certification End to End for EU Compliance from scratch, based upon feedback from the major when moving g
Slide 33: NHS Jobs
Case Study Transforming recruitment for the entire NHS Jobs What was the service? How did we improve it? We redesigned the service based on user needs. This The NHS Business Services Authority (NHSBSA) needed a was a fundamental change from the initial platform. transformation partner to help rebuil
Slide 34: Sustainable Futures Our ESG
Sustainable Futures Our ESG 34
Slide 35: People
ESG Report People We are closing the gaps that exist in our business and wider industry. 35
Slide 36: Planet
ESG Report Planet We are leaving no trace. 36
Slide 37: Community
ESG Report Community We are equipping our communities with future-proof skills. 37
Slide 38: Prosperity
ESG Report Prosperity We are delivering impactful work. 38