Cerillion PLC H1 2022 Trading Update (4829I)
April 19 2022 - 2:01AM
UK Regulatory
TIDMCER
RNS Number : 4829I
Cerillion PLC
19 April 2022
AIM: CER
Cerillion plc
("Cerillion" or the "Company")
Half Year Trading Update
Record Six Months
Cerillion, the billing, charging and customer relationship
management software solutions provider, is pleased to announce an
update on trading for the first six months of its current financial
year ending 30 September 2022.
Trading has been very strong, with the six month period ended 31
March 2022 setting new records for both revenue and adjusted
EBITDA. Revenue is expected to be 26% higher year-on-year at
approximately GBP16.1m (H1 2021: GBP12.8m) and adjusted EBITDA is
expected to be 48% higher at approximately GBP7.1m (H1 2021:
GBP4.8m). Net cash at 31 March 2022 is up by 114% to approximately
GBP16.5m (31 March 2021: GBP7.7m), further underpinning the
Company's strong balance sheet. Cerillion's sales pipeline remains
strong and this, together with the record performance in the first
half of the year, underpins the Board's confidence that trading for
the full year will be in line with its expectations .
The excellent performance in the first half reflects on-going
work on new customer implementation projects and strong demand from
existing customers, against a wider back-drop of continuing
strength in demand for telecoms services and substantial on-going
investment in 5G and fibre rollout.
The Company has continued to add further resource to support the
strong momentum in the business, and its new skill centre in Sofia,
Bulgaria is growing as planned. In addition, in the period, the
Company completed Cerillion 22.1, the latest version of its
Enterprise OSS/BSS suite for fixed, mobile, cable and multi-service
operators. This new version will be released shortly and provides
customers with further B2B capabilities as well as launching a new
set of SaaS software editions that address new telecoms market
segments with out-of-the box solutions.
Notice of results
The Board intends to announce interim results for the six months
to 31 March 2022 in mid-May 2022, when the Company will provide a
further update on current trading.
Louis Hall, Chief Executive of Cerillion, commented:
"The business has delivered a record performance for any
six-month period, driven by our backlog of new customer
implementations and strong demand from existing customers. The
market backdrop remains highly favourable for Cerillion. With a
strong pipeline of new business, we remain well-placed for
continuing growth this financial year and next."
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR.
Cerillion plc c/o KTZ Communications
Louis Hall, CEO T: 020 3178 6378
Andrew Dickson, CFO
Liberum (Nomad and Broker) T: 020 3100 2000
Bidhi Bhoma, Cameron Duncan, William
Hall
KTZ Communications T: 020 3178 6378
Katie Tzouliadis, Dan Mahoney
About Cerillion
www.cerillion.com
Cerillion is a leading provider of mission critical software for
billing, charging and customer relationship management ("CRM"),
mainly serving the telecommunications market but also other sectors
such as utilities and financial services. The Company currently has
over 80 customer installations across over 45 countries.
Headquartered in London, Cerillion also has operations in Pune,
India, Sofia, Bulgaria and Sydney, Australia.
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END
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