Tpximpact Holdings Plc · LSE:TPX
Tpximpact — H1 2024 Earnings Presentation
25 slides from Tpximpact's earnings presentation, Dec 5, 2023
Slide 1: Half Year Results
6 months ended 30 September 2023 HALF YEAR RESULTS Björn Conway (CEO) 5 December Steve Winters (CFO) 2023 1
Slide 2: Disclaimer
DISCLAIMER This presentation relating to TPXimpact Holdings Limited (the “Company”) is not an advertisement or an offering of securities of the Company in any jurisdiction or an inducement to enter into investment activity and has not been approved by the UK Listing Authority, the Financial Conduct
Slide 3: Contents
H1 2024 summary 4 Making a difference 7 CONTENTS Financial and ESG results 11 Market conditions and 17 outlook For more information visit tpximpact.com/investor-relations 3
Slide 4: H1 2024 Summary
H1 2024 SUMMARY Revenue1 Adjusted EBITDA1 New Business Net debt £41.6m Up 22% on a like-for-like basis £2.0m EBITDA Margin of 4.8% £105m £12.8m Excluding lease liabilities (H1 2023: £34.1m) (H1 2023: £0.9m; Margin of 2.6%) (H1 2023: £37m, FY2023: £115m) (FY 2023: £17.5m) Sectors 9% headcount (FTE) g
Slide 5: Direction of Travel
DIRECTION OF TRAVEL GROW & DIFFERENTIATE Building a platform for an integrated FORM & INTEGRATE transformation business FOCUS & BALANCE ● Accelerate growth primarily through digital transformation business, but ● Integrate complementary also in digital experience agency businesses into the digital ●
Slide 6: Progress on Track
PROGRESS ON TRACK Building a platform for an integrated transformation business OPERATIONAL GROWTH FOCUS & BALANCE ● The Group secured two of its largest contracts to date; Department for Education (up to £27.4m over 2 years) and His Majesty’s Land Registry (up to £49m over 4 years) ● More commercia
Slide 7: Making a Difference
MAKING A DIFFERENCE Björn Conway 7
Slide 8: People-Powered Transformation
PEOPLE-POWERED TRANSFORMATION Design meetup Wear it pink Roving researchers Breast Cancer Now Client Services & Bids meetup Trussell Trust 8
Slide 9: Digital Transformation
DIGITAL TRANSFORMATION DEPARTMENT FOR LEVELLING UP, HOUSING DEPARTMENT FOR EDUCATION AND COMMUNITIES Teacher continuing personal development Home buying and selling There are 500,000 teachers in the UK and every new teacher now starts their career with a 2-year professional development course 33% of
Slide 10: Digital Experience
DIGITAL EXPERIENCE ZOOLOGICAL SOCIETY OF LONDON BREAST CANCER NOW Growing conversion by 30% Partnering to deliver digital unification ZSL faced critical issues with its global website, encompassing In 2021, Breast Cancer Now partnered with TPXimpact for a digital unreliable data, an unresponsive mobi
Slide 11: Financial & ESG Results
Steve Winters FINANCIAL & ESG RESULTS 11
Slide 12: H1 2024 Financial Results
H1 2024 FINANCIAL RESULTS Revenue3 Adjusted EBITDA1,3 Adjusted profit Adj diluted EPS1,3 Reported operating before tax1,3 loss3 £41.6m £2.0m £0.6m 0.5p £(9.0)m (H1 2023: £34.1m) (H1 2023: £0.9m) (H1 2023: £0.4m) (H1 2023: 0.4p) (H1 2023: £(3.9)m) Like-for-like Revenue Adj EBITDA margin1,3 FY24 revenu
Slide 13: Revenue by Year and Quarter
REVENUE BY YEAR AND QUARTER *FY2024 represents the revenue range based upon our 15-20% growth target; *FY23 figures are LFL growth as disclosed in that year. Consensus forecasts are also within this range **FY24 figures are LFL growth based on continuing operations **Based upon the results of continui
Slide 14: H1 2024 Revenue Split
H1 2024 REVENUE SPLIT* *Based upon the results of continuing operations. 14
Slide 15: Reconciliation of H1 2024 Reported Operating Loss to Adj EBITDA
RECONCILIATION OF H1 2024* REPORTED OPERATING LOSS TO ADJ EBITDA *Based upon the results of continuing operations. 15
Slide 16: ESG Results
ESG RESULTS Like-for-like New jobs Ethnic minority Female Permanent created (FTE) representation representation FTE 535 46 20% 51% (FY 2023: 489) (H1 2023: 32) (H1 2023: 19%) (H1 2023: 49%) tC02e per FTE tCO2e by£1m Carbon footprint (annualised) revenue Down 7% to 735 1.87 15.07 tCO2e in H1 (FY 2023
Slide 17: Market Conditions and Outlook
MARKET CONDITIONS AND OUTLOOK 17
Slide 18: Looking Forwards… Q&A
LOOKING FORWARDS… Q&A Market Current Trading Outlook ● Demand for digital transformation expertise will ● October revenue growth ● Confident of meeting FY24 continue to be strong, with of 42%; margins in line targets of 15-20% revenue external forecasts predicting with management growth and 5-6% Adju
Slide 19: Thank You
e » | THANK YOU TPXimpact
Slide 20: Appendix
Appendix TPXimpact 20
Slide 21: Income Statement
Income statement H1 2024 H1 2023 INCOME STATEMENT Continuing operations £’000 Revenue 41,622 34,075 Gross profit 10,904 9,341 STATUTORY GM % 26.2% 27.4% Administrative costs: Revenues from continuing operations were up 22.1% with Staff costs (6,006) (5,531) growth driven by the Consulting business du
Slide 22: Statement of Financial Position
Balance Sheet £’000 H1 2024 FY 2023 STATEMENT OF Goodwill 49,085 59,486 Intangible assets 19,521 23,458 FINANCIAL POSITION Tangible assets 2,237 1,911 Cash 7,171 6,772 Other investments 2,188 2,188 Receivables 18,843 21,305 Net assets decreased in the period by £6.3m largely due to the £5.6m impairm
Slide 23: Cash Flow/Net Debt
Cash Flow £’000 H1 2024 H1 2023 Cash from operations activities before NWC 1,814 (811) CASH FLOW/NET DEBT Net Working Capital (1,709) (209) Net cash from total operating activities 105 (1,020) Tangible and intangible asset additions (104) (423) Cash relating to acquisitions/disposals 6,236 (1,787) N
Slide 24: Adj Profit After Tax Reconciliation
ADJ PROFIT AFTER TAX Adjusted profit after tax H1 2024 H1 2023 Continuing operations £’000 RECONCILIATION Statutory loss before tax (10,058) (4,320) Amortisation of intangible assets 3,894 3,101 Loss on fair value movement of Directors believe that an ‘adjusted profit after tax’ measure is contingent
Slide 25: Share Count
SHARE COUNT Ordinary shares HY2024 HY2023 FY2023 Number of shares ‘000 Period/year-end 92,160 91,177 91,876 Weighted average 92,056 89,771 90,613 Contingent consideration - 1,911 284 Own shares - SIP/EBT (1,757) (256) (712) Average basic 90,299 91,426 90,185 Dilutive share options outstanding 1,363