Nichols Plc · LSE:NICL

Nichols — Investor Presentation (February 2025)

72 slides from Nichols's investor presentation, Feb 6, 2025

Slide 1: Welcome to 'Uncovered Gems'
Welcome to ‘Uncovered Gems’ Discovering the Hidden Treasures of the UK small-cap market.
Slide 2: Agenda
Agenda 3:00pm Presentations to start: Presentation 1 Presentation 2 Q&A 4:00pm Break 4:15pm Presentations to resume: Presentation 3 Presentation 4 Q&A 5:15pm Networking & Drinks
Slide 3: Presentation: Bango
Presentation: BANGO dango
Slide 4: Bango: Where people subscribe
Bango Where people subscribe Anil Malhotra, CMO + Co-founder © 2025 Bango PLC | Bango.com Bango Confidential Information 1
Slide 5: Bango Platform
Bango Platform Payments Subscriptions Bango technology brings together content providers with telcos to create the world’s biggest subscriptions bundling marketplace, giving consumers the content they want, in the way they want it. Bango Payments Bango Digital Vending Machine® (DVM) © 2025 Bango PLC
Slide 6: Quick survey…
Quick survey… How many subscriptions do you have? 4.5 1 in 10 $924 The average Pay for 10 or more Average total number of subscriptions spent per year subscriptions per on subscriptions person Source: Subscription Wars: Super Bundling Awakens (Feb ‘24) © 2025 Bango PLC | Bango.com Bango Confidential
Slide 7: Subscription fatigue is setting in
Subscription fatigue is setting in 44% 35% Find it too hard to keep track Don’t know how much they’re of where and how they signed spending on subscriptions up for subscriptions 36% 67% Pay for a subscription Can’t afford all the subscription that they never use services they would like © 2025 Bango
Slide 8: Subscribers want convenience and control
Subscribers want convenience and control 69% Want ability to pay for 73% Want one single platform 69% Prefer being able to pick multiple subscriptions to manage and choose subscriptions via one monthly bill all their subscriptions they want, rather than a pre-packaged bundle And they want their telc
Slide 9: The Digital Vending Machine® - Where people subscribe
The Digital Vending Machine® - Where people subscribe A single hub to control all subscriptions Access hundreds of the worlds leading content providers Manage subscriptions - start, stop, pause & pay Discover & benefit from new offers & services Gain transparency, control & flexibility © 2025 Bango
Slide 10: Bango Digital Vending Machine® benefiting everyone in ecosystem
Bango Digital Vending Benefiting everyone in ecosystem Machine® (DVM™) Consumers Content providers Streaming is changing, which is why ü Greater flexibility & ü Increased Verizon in leading the industry in transparency addressable market optionality and ease of doing ü Central management & brand awa
Slide 11: Powering the subscriptions economy
Powering the subscriptions economy The Digital Vending Machine® from Bango brings together resellers and content providers to enable Super Bundling of subscriptions at speed and scale: Connect once, access an ecosystem of world’s leading 01 content providers and resellers 02 DVM can come pre-stocked
Slide 12: Bango's DVM has a growing ecosystem of over 100 content providers
Bango’s DVM has a growing ecosystem of over 100 content providers Movies, TV Music, Audio Gaming, Social Sporting, Health Retail, Security, Productivity Books, News Education, Faith, Food & Other ] © 2025 Bango PLC | Bango.com 9 Bango Confidential Information
Slide 13: Subscriptions economy - The opportunity
Subscriptions economy - The opportunity $331Bn Global subscription economy value in 2023 (uniper Research, 2024) 20%. SVOD subscriptions sold thru bundling partnerships with telcos in 2023 (Omelo, bango © 2025 Bango PLC | Bango.com $996Bn Global subscription economy total transaction value by 2028 (
Slide 14: Strategy: Powering the fast-growing subscriptions economy
Strategy: Powering the fast-growing subscriptions economy Enabling content providers to easily bundle subscription services through partnerships with telcos and similar businesses Lead the distribution of Use data to differentiate subscription services through Bango and monetize telco channels conte
Slide 15: Bango in numbers
Bango in numbers $53.4M $15.2M 42% 2024 total revenue 2024 Adjusted EBITDA 5 year full year revenue CAGR $36.2M $17.2M 2024 transactional 2024 DVM revenue revenue * FY24 unaudited © 2025 Bango PLC | Bango.com 12
Slide 16: Worlds largest companies rely on the Bango DVM
Worlds largest companies rely on the Bango DVM Powering 4 of the top 6 largest companies by market cap 3 of top 5 US telcos use Bango DVM Top 7 largest SVOD services in the US by market share bundle via DVM © 2025 Bango PLC | Bango.com Bango Confidential Information 13
Slide 17: Summary
Summary Market leader in growing Over 100 leading content DVM revenue foundations subscriptions economy providers accelerating YoY technology Powerful ARR model provides Decreasing time to Net Revenue Retention growth Strong Strong predictable revenue revenue at 125% The worlds largest Legacy paymen
Slide 19: Disclaimer
Disclaimer The following presentation, including any printed or electronic copy of these slides, information communicated during any delivery of the presentation and any question-and-answer session, or any document or material distributed at or in connection with the presentation (together, the “Pre
Slide 20: Presentation: IDOX
Presentation: IDOX 3 idox
Slide 21: Idox plc
Idox plc “Hidden Gems Event – Singers Capital Markets 6th February 2025
Slide 22: Building Value, Expanding opportunities
Building Value, Significant market positions Expanding and scale in the markets we serve opportunities Land, Property & Public Protection Assets Communities Helping our customers Solutions that reduces, Our software is helping deliver world-class operational risk and ensure to transform Health and P
Slide 23: Idox – Building value year after year
FY24 shows strong growth performance Idox – Building Building on the track record of the last 4 years, Idox is well positioned value year after year to drive both organic and inorganic growth Year ended 31 October 2024 5 Year performance Revenue (£m) +20% YoY Recurring +20% YoY revenue (£m) Delivere
Slide 24: Strong core market positions, deep market penetration
Strong core Deep market penetration market positions and a very sticky customer base Communities Assets Land Property & Public Protection Full Year Ended 31 October 2024 4
Slide 25: Geospatial: A sector with significant opportunities
Geospatial: A sector with significant opportunities Transformative solutions Significantly Improved Customer Outcomes Data, Software, Services, Insight Full Year Ended 31 October 2024 5
Slide 26: Significant additional growth opportunity in Geospatial
Significant additional growth Immediately addressable market opportunity in of £300m Geospatial Full Year Ended 31 October 2024 6
Slide 27: FY24 highlights: A strong financial performance
FY24 highlights: A strong financial performance Revenue LPPP Revenue Adjusted EBITDA £87.6m £55.3m +27% £26.1m (2023: £73.3m) (2023: £24.5m) +20% Communities Revenue +7% Recurring Revenue £17.4m Adjusted EBITDA margin £54.5m 30% +16% Assets Revenue (2023: £45.5m) +20% £14.9m (2023: 33%) - Adjusted d
Slide 28: Delivering long-term sustainable growth
Delivering long-term sustainable growth Recurring revenue (£m) Revenue (£m) +20% YoY +20% YoY 54.5 87.6 45.5 73.3 40.5 66.2 62.2 35.7 36.3 57.3 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Communities Assets Land Property & Public Protection Full Year Ended 31 October 2024 8
Slide 29: Focus on quality work, delivering profitable growth
Focus on quality work, delivering profitable growth Group order intake (£m) +23% YoY Adjusted EBITDA (£m) +7% YoY 26.1 101.7 24.5 22.5 82.4 74.7 19.5 17.2 62.9 2020 2021 2022 2023 2024 2021 2022 2023 2024 Communities Assets Land Property & Public Protection Full Year Ended 31 October 2024 9
Slide 30: Delivering value for shareholders
Delivering value for shareholders Adjusted diluted EPS (p) -% YoY Dividend per share (p) +17% YoY 0.7 2.62 2.61 0.6 2.44 0.5 2.27 0.4 1.47 0.3 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Full Year Ended 31 October 2024 10
Slide 31: Financial review: Net debt movement
Financial review: Net debt movement 15 25.2 10 5 (4.1) (2.4) - £m (5) (8.7) (2.8) 0.6 (10) (2.2) (9.9) (0.8) (15) (14.7) (20) 3 ns x A ) s t sts r 4 FY 2 tio Ta M& &D nd res co Ot he FY 2 era gR id e Int e op ci n Di v ase y lu Le db inc te x( era pe g en Ca C ash A strong operating cash conversion
Slide 32: Financial review
Financial review: Adjusted Significant Revenue growth Cash EBITDA margin facilities Double digit revenue Targeting 35% in the Continued strong cash £75m RCF and £45m growth medium term generation reducing net accordion providing the debt and leverage Group with significant resources for M&A We have
Slide 33: Conclusion
Conclusion David Meaden Full Year Ended 31 October 2024
Slide 34: Idox: A strong foundation: Focus on the future
Idox: A strong foundation: Focus on the future Strong positions Scale through Grow Targeted Margins M&A Growing markets Further Growth Focus on opportunity Cash in Geospatial Generation Good tailwinds £300m addressable Deliver a market. Goal ‘Rule of 40‘ of 10% business A clear focus on operational
Slide 35: Q&A
idox Q&A
Slide 36: idox logo
Slide 37: Presentation: Made Tech
Presentation: MADE TECH + MadeTech
Slide 38: 'Uncovered Gems'
‘Uncovered Gems’ Singer Capital Markets - 6th February 2025 Rory MacDonald, CEO Neil Elton, CFO
Slide 39: Presenters
Made Tech - ‘Uncovered Gems’ Presenters Rory MacDonald Neil Elton CEO CFO 2 STRICTLY CONFIDENTIAL The content of this document may not be disclosed to third parties without prior consent from Made Tech Group Plc
Slide 40: Market Opportunity
Made Tech - ‘Uncovered Gems’ Market Opportunity Strong Driving Large That is Growing .. Tailwinds… Market… Government technology ✔ no longer fit for purpose Total2 UK Market Drive to digital, to automate £14b - £18.2b ✔ and drive efficiencies (2021 - 2026) Reduction in large scale Addressable Market
Slide 41: Service Lines
Made Tech - ‘Uncovered Gems’ Service Lines Transform Deliver Run Cloud & Engineering Design & Managed Change Service Delivery Transition Software Advisory User Centered Products Design Data & AI 4 STRICTLY CONFIDENTIAL The content of this document may not be disclosed to third parties without prior
Slide 42: Clients & Industries
Made Tech - ‘Uncovered Gems’ Clients & Industries Public Safety & Healthcare & Energy, Utilities & Central & Space & Local Gov & National Security Life Sciences Environment Devolved Defence Housing 5 STRICTLY CONFIDENTIAL The content of this document may not be disclosed to third parties without pri
Slide 43: Strengthening maritime safety with emergency beacon registration
Made Tech - ‘Uncovered Gems’ Strengthening maritime safety with emergency beacon registration Working with Maritime Coastguard Agency (MCA) on a managed service for beacon owners that includes: t ● a convenient digital registration ● information update for beacon owners ● support and iterative impro
Slide 44: Launching national curriculum assessments with the Department for Education
Made Tech - ‘Uncovered Gems’ Launching national curriculum assessments with the Department for Education Working with the Standards and Testing Agency on digital national curriculum assessments, so far we’ve: ● onboarded 25-30 engineering, data, UCD and delivery experts ● prioritised the Reception B
Slide 45: The power of digital patient records in the NHS
Made Tech - ‘Uncovered Gems’ The power of digital patient records in the NHS Patient records were not fully digitised leading to delays in access to medical records. Patient Record Migration Programme ● GP2GP ● Orphaned Record Continuity ● National Document Repository Digital patient records are now
Slide 46: Software Products
Made Tech - ‘Uncovered Gems’ Software Products ● Three initial customers live on platform signed up to long-term subscriptions ● Three products: Made Tech Repairs, Made Tech Voids, and Made Tech Evidence ● Engaging Local Authorities and Housing Associations ● Primary focus on commercialisation and s
Slide 47: H1 FY25 Highlights
Made Tech - ‘Uncovered Gems’ H1 FY25 Highlights GROSS PROFIT REVENUE GROSS PROFIT SALES BOOKINGS ³ MARGIN £21.8m £7.8m 35.8% £42.0m +14% +16% +70 bps +233% H1 FY24: £19.1m H1 FY24: £6.7m H1 FY24: 35.1% H1 FY24: £12.6m CONTRACTED CASH GENERATED BY ADJUSTED EBITDA ² NET CASH BACKLOG ¹ OPERATIONS £80.8
Slide 48: Q&A
Q&A 11
Slide 49: Appendices
Appendices 12
Slide 50: Industry Diversification & Client Retention
Made Tech - H1 FY25 Financial Results Industry Diversification Page title long copy & Expansion Client Retention & Expansion ● Revenue of £21.8m (H1 FY24: £19.1m) up 14% ● Gross Proﬁt increase by 16% to £7.8m (H1 FY24: £6.7m) ● Majority of revenue from Central Government (73%) and ○ reﬂects improved
Slide 51: Long-term Visibility: Bookings & Revenue Waterfall
Made Tech - H1 FY25 Financial Results Long-term Visibility Bookings & Revenue Waterfall - £m ● Sales Bookings of £42.0m (H1 FY24: £12.6m) up 233% ● Key wins include: ○ DfE - £13.2m over 4 years ○ Met Ofﬁce - £7.6m over 2 years ○ MoJ - £7m over 2 years ● Contracted Backlog at end of Nov £80.8m (H1 FY
Slide 52: Adjusted EBITDA Bridge
Financial Results Made Tech - H1 FY25 Financial Results Adjusted EBITDA Bridge £m ● Operating proﬁt of £0.3m represents a substantial H1 FY25 H1 FY24 Variance improvement on operating loss of £1.1m in H1 FY24 Operating Profit / 0.3 (1.1) 1.4 ● Improved utilisation and capacity management in (loss) o
Slide 53: Balance Sheet
Financial Results Made Tech - H1 FY25 Financial Results Balance Sheet ● Intangible assets includes Technology Platforms and BALANCE SHEET Capability IP developed as business accelerators for the H1 FY25 H1 FY24 As at 30 November (£m) industries that we serve; £4.3m impairment in FY24 due to longer s
Slide 54: Cashflow
Financial Results Made Tech - H1 FY25 Financial Results Cashflow EBITDA and Cash Flow Bridge Cash Movements ● Improved EBITDA performance and reduced working capital requirement drives positive operating cash ﬂow ● Reduced spend on SaaS products as enter commercialisation phase; charged to income st
Slide 55: ESG - Our Social Value objectives
‘Uncovered Gems’ ESG - Our Social Value objectives Invest in the health, Champion and deliver To represent and reﬂect To operate on a wellbeing and skills of social value priorities the communities in sustainable basis our employees and through our clients and which we operate communities ways of wo
Slide 56: Important Notice
Made Tech - ‘Uncovered Gems’ Important Notice NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, NEW ZEALAND, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR THE REPUBLIC OF IRELAND OR ANY JURISDICTION W
Slide 57: Presentation: RM
Singer Capital Markets Presentation: RM RM
Slide 58: 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 virtu
Slide 59: Introducing RM
Introducing RM Mark Cook 6 Feb 2025
Slide 60: Mark Cook, Chief Executive Officer
M a rk C ook, C h ief Exec utiv e O ffic er Finance, Business Transformation and Technology track record USA, Europe and APAC Druid plc sale to FI Group Xansa plc sale to Sopra Steria Getronics carve out from KPN Telecom Capita plc Trustmarque sale RM plc turnaround and growth transformation Confide
Slide 61: Agenda
Agenda RM overview Market dynamics Future strategy Summary Confidential
Slide 62: Pioneers of EdTech since 1973
Pioneers of EdTech since 1973 RM partners with educators and accrediting bodies globally, transforming education for the digital age. We’re empowering clients to embrace digital learning, assessment and marking, ensuring impactful teaching, accurate assessment and fair accreditation. Together, we’re
Slide 63: RM overview
RM overview With 2000 colleagues operating through 3 divisions, RM Assessment RM Technology we’re supporting improved educational outcomes A global leader in A provider of IT for over 20 million students worldwide platform delivery managed services of digital and value-added RMand assessment IT rese
Slide 64: RM overview
RM overview Become a trusted long-term partner through our reliable delivery, deep education domain knowledge and intuitively designed solutions that meet the needs of clients and the learners they serve Confidential
Slide 65: The EdTech market dynamics
The EdTech market dynamics Operating in a high-growth global market, driven by the need to modernise learning experiences for a changing world Confidential
Slide 66: Our strategy
Our strategy Se iz in g th e G lobal Em pow e r in g a Lif e tim e of O ppor tunity Lear ner s Capitalising on a $222bn Products and solutions EdTech market for early years to professionals Tar ge tin g Ac c r e ditor s De liv e r in g a G lobal Le v e r agin g ow n e d E duc ator s & Le ar n e r s
Slide 67: Customer-centric solutions
Customer-centric solutions 400+ developers creating tailored innovations to meet the evolving needs of accreditors, educators and learners. New in 2024: New Global Accreditation Platform - full end-to-end The challenges digital accreditation platform with SaaS offering – T ran sf orm e enabling form
Slide 68: New Global Accreditation Platform
New Global Accreditation Platform Enabling seamless, end-to-end digital assessment and marking for accreditors while driving material margin improvements for RM ` T h e opportunities Single platform for Data reporting, Analytics Learner Portal: to take Content authoring, Assessor & Assessment & insi
Slide 69: Portfolio roadmap
Portfolio roadmap Investing in big solutions build for accreditors and educators, with adjacent learner direct solutions T h e opportunities Confidential
Slide 70: In summary
In summary 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 T h e opportunities One clear go to marke
Slide 71: Questions?
Questions?
Slide 72: Thank you
Thank you for attending ‘Uncovered Gems’

Nichols — Investor Presentation (February 2025) on 6ix

Nichols — Investor Presentation (February 2025)

Slide 1: Welcome to 'Uncovered Gems'

Slide 2: Agenda

Slide 3: Presentation: Bango

Slide 4: Bango: Where people subscribe

Slide 5: Bango Platform

Slide 6: Quick survey…

Slide 7: Subscription fatigue is setting in

Slide 8: Subscribers want convenience and control

Slide 9: The Digital Vending Machine® - Where people subscribe

Slide 10: Bango Digital Vending Machine® benefiting everyone in ecosystem

Slide 11: Powering the subscriptions economy

Slide 12: Bango's DVM has a growing ecosystem of over 100 content providers

Slide 13: Subscriptions economy - The opportunity

Slide 14: Strategy: Powering the fast-growing subscriptions economy

Slide 15: Bango in numbers

Slide 16: Worlds largest companies rely on the Bango DVM

Slide 17: Summary

Slide 18: Q&A

Slide 19: Disclaimer

Slide 20: Presentation: IDOX

Slide 21: Idox plc

Slide 22: Building Value, Expanding opportunities

Slide 23: Idox – Building value year after year

Slide 24: Strong core market positions, deep market penetration

Slide 25: Geospatial: A sector with significant opportunities

Slide 26: Significant additional growth opportunity in Geospatial

Slide 27: FY24 highlights: A strong financial performance

Slide 28: Delivering long-term sustainable growth

Slide 29: Focus on quality work, delivering profitable growth

Slide 30: Delivering value for shareholders

Slide 31: Financial review: Net debt movement

Slide 32: Financial review

Slide 33: Conclusion

Slide 34: Idox: A strong foundation: Focus on the future

Slide 35: Q&A

Slide 36: idox logo

Slide 37: Presentation: Made Tech

Slide 38: 'Uncovered Gems'

Slide 39: Presenters

Slide 40: Market Opportunity

Slide 41: Service Lines

Slide 42: Clients & Industries

Slide 43: Strengthening maritime safety with emergency beacon registration

Slide 44: Launching national curriculum assessments with the Department for Education

Slide 45: The power of digital patient records in the NHS

Slide 46: Software Products

Slide 47: H1 FY25 Highlights

Slide 48: Q&A

Slide 49: Appendices

Slide 50: Industry Diversification & Client Retention

Slide 51: Long-term Visibility: Bookings & Revenue Waterfall

Slide 52: Adjusted EBITDA Bridge

Slide 53: Balance Sheet

Slide 54: Cashflow

Slide 55: ESG - Our Social Value objectives

Slide 56: Important Notice

Slide 57: Presentation: RM

Slide 58: Disclaimer

Slide 59: Introducing RM

Slide 60: Mark Cook, Chief Executive Officer

Slide 61: Agenda

Slide 62: Pioneers of EdTech since 1973

Slide 63: RM overview

Slide 64: RM overview

Slide 65: The EdTech market dynamics

Slide 66: Our strategy

Slide 67: Customer-centric solutions

Slide 68: New Global Accreditation Platform

Slide 69: Portfolio roadmap

Slide 70: In summary

Slide 71: Questions?

Slide 72: Thank you