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De May 2019 a May 2020
RNS Number : 4876G
24 July 2019
24 July 2019
("Netcall", the "Company", or the "Group")
Trading Update and Notice of Results
Netcall plc (AIM: NET), a leading provider of Low-code and customer engagement software, today announces the following trading update for the 12 months ended 30 June 2019.
The Board anticipates full year revenues of GBP22.9m (FY18: GBP21.9m) and adjusted EBITDA(1) of GBP3.4m.
Cloud services bookings(2) increased by 197% to GBP7.6m illustrating strong momentum in our cloud business.
Total Low-code Annual Contract Value ('ACV')(3) has continued its growth and is up 36% year over year to GBP4.5m and the total ACV increased 10% year over year to GBP15.7m.
Cash generation has been strong and at 30 June 2019 the Group's cash position was GBP7.8m, ahead of the Board's expectations and more than offsetting the existing debt of GBP6.6m.
Henrik Bang, CEO of Netcall plc, commented,
"We have seen strong growth in our key financial metrics of Cloud services bookings and ACV as we continue to transition from a traditional software business to a growing digital cloud operation.
"The Group's cloud services bookings exceeded traditional product sales for the full year which was mainly driven by strong Low-code sales to both new and existing customers. The combination of our powerful customer engagement software and our leading Low-code platform is a clear differentiator for Netcall in its market.
"As we continue to execute our Low-code investment plan, the Liberty business provides strong cash-flow for the Group. As a result, the Group's cash position increased significantly in the period which combined with high recurring revenues and a strong product portfolio, gives the Board confidence in the prospects for Netcall."
Notice of Results
Netcall will be announcing Final Results for the year ended 30 June 2019 on 25 September 2019.
(1) Profit before interest, tax, depreciation and amortisation adjusted to exclude the effects of acquisition, impairment, contingent consideration and non-recurring transaction costs. The trading performance is based on unaudited management accounts for the year ended 30 June 2019.
(2) Cloud services bookings is the total of all new orders received classified as cloud subscription and support contract revenues.
(3) ACV, as of a given date, is the total of the value of each cloud and support contract divided by the total number of years of the contract.
For further enquiries, please contact:
Netcall plc Tel. +44 (0) 330
Henrik Bang, CEO
Michael Jackson, Chairman
James Ormondroyd, Group Finance Director
finnCap Limited (Nominated Adviser and Broker) Tel. +44 (0) 20
Stuart Andrews / James Thompson, Corporate
Tim Redfern, Corporate Broking
Alma PR Tel. +44 (0) 20
Caroline Forde / Hilary Buchanan / Helena
About Netcall plc
Netcall is a UK company quoted on the AIM market of the London Stock Exchange. Netcall helps organisations transform their customer engagement activities and enable digital transformation faster and more efficiently, thereby improving customer experiences and operational efficiencies. Netcall's software product portfolio comprises Liberty, a customer engagement platform, incorporating omnichannel contact centre and workforce optimisation, and MATS, a market leading Low-code platform.
Netcall's customers span enterprise, healthcare and government sectors. These include two-thirds of the NHS Acute Health Trusts, major telecoms operators such as BT, and leading organisations including Lloyds Banking Group, ITV and Nationwide Building Society.
For further information, please go to www.netcall.com.
Prior to publication the information communicated in this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 ('MAR') With the publication of this announcement, this information is now considered to be in the public domain.
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(END) Dow Jones Newswires
July 24, 2019 02:00 ET (06:00 GMT)