Alfa Financial Software Hldgs PLC Q3 Trading Update (7101R)
November 09 2021 - 2:00AM
UK Regulatory
TIDMALFA
RNS Number : 7101R
Alfa Financial Software Hldgs PLC
09 November 2021
9 November 2021
Alfa Financial Software Holdings PLC
Scheduled Q3 trading update
Momentum in the business continues
Alfa Financial Software Holdings PLC ("Alfa" or the "Company"),
a leading developer of mission-critical software for the asset
finance industry provides a scheduled update on trading.
Revenue and Cash
Revenue in the third quarter was strong at GBP20m, significantly
ahead of GBP16m for the same period last year with high levels of
chargeability which has continued through October. Our net cash
generation has remained strong.
Delivery
Delivery performance has remained excellent. We had delivered
fifteen successful go-lives of Alfa Systems at the time of the half
year results in September. This has now increased to twenty three,
the most significant of which was a new implementation go-live for
a large US automotive client with the successful migration of well
over 1 million contracts.
Pipeline and TCV
At the time of our half-year results on 22 September 2021 we had
seven prospects in our late stage pipeline. We are continuing to
make progress on converting prospects into signed contracts and in
addition have added a large prospect in Europe so the late stage
pipeline currently sits at eight prospects.
We have had two wins so far in H2, which were announced at the
time of the half year results in September. These, along with the
signing of additional statements of work, net of work performed has
resulted in our TCV ("Total Contracted Value") increasing from
GBP125m at 30 June 2021 to GBP128m at 30 September 2021.
Outlook
Overall, given the strength of the revenue performance in Q3 and
the chargeability through October, we now expect to exceed our
revenue estimates for 2021 by a further circa 3%.
Andrew Denton, Chief Executive Officer of Alfa said:
"This has been an outstanding quarter in what has been an
outstanding year for Alfa. We are delighted to see continued good
progress across all areas of the business. Already this year more
new customers have started using Alfa Systems in more geographies
than any year in our history. We have continued to develop the Alfa
Systems to evolve their functionality and technical capability to
maintain our leadership position in the markets we serve and we
were delighted to be able to update the market on the strength of
our intellectual property at our recent investor event. These
foundations, our financial performance and the strength of our
pipeline means that we continue to have growing confidence in the
outlook for the business".
Enquiries
Alfa Financial Software Holdings
PLC
Andrew Denton, Chief Executive
Officer
Duncan Magrath, Chief Financial
Officer +44 (0)20 7588 1800
Tulchan Communications LLP
James Macey White
Victoria Boxall +44 (0)20 7353 4200
Notes to Editors
Alfa has been delivering software systems and consultancy
services to the global asset and automotive finance industry since
1990. Our best practice methodologies and specialised knowledge of
asset finance facilitates delivery of large software
implementations and highly complex business change projects. With
an excellent delivery track record spanning three decades, Alfa's
experience and performance is unrivalled in the industry.
Alfa Systems, our class-leading technology platform, is at the
heart of some of the world's largest asset finance companies. Key
to the business case for each implementation is Alfa Systems'
ability to replace multiple customer systems with our single
platform. Alfa Systems supports both retail and corporate business
for auto, equipment, wholesale and dealer finance on a
multijurisdictional basis, including leases/loans, originations and
servicing. An end-to-end solution with integrated workflow and
automated processing using business rules, Alfa Systems provides
compelling solutions to asset finance companies.
Alfa Systems is currently used by customers or has live
implementations in 26 countries and Alfa has offices in Europe,
Australasia and North America. For more information, visit
www.alfasystems.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTBLBDBCUGDGBI
(END) Dow Jones Newswires
November 09, 2021 02:00 ET (07:00 GMT)
Alfa Financial Software (LSE:ALFA)
Historical Stock Chart
From Sep 2024 to Oct 2024
Alfa Financial Software (LSE:ALFA)
Historical Stock Chart
From Oct 2023 to Oct 2024