1Spatial

LN: SPA

£24.9m market cap

22.5p last close

1Spatial’s core technology validates, rectifies and enhances customers’ geospatial data. The combination of its software and advisory services reduces the need for costly manual checking and correcting of data.

Investment summary

1Spatial’s recently reported results confirm good financial performance in FY20 (reported revenue growth of 33% y-o-y and pre-IFRS 16 EBITDA rising 83%) with positive underlying cash flow and EBIT in H2. While the company has seen no impact on trading from COVID-19 so far it is prudently acknowledging that sales cycles are likely to lengthen in the current economic climate. As a precaution it has withdrawn forward guidance and stands ready to take action on costs if needed. Following the results it announced a $2.6m contract win in the US and appointment of Andrew Fabian, former CFO of StatPro, as CFO.

Y/E Jan
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2019A 17.6 1.2 (0.9) (1.06) N/A N/A
2020A 23.4 3.2 (0.1) (0.05) N/A 43.3
2021E N/A N/A N/A N/A N/A N/A
2022E N/A N/A N/A N/A N/A N/A
Industry outlook

The GIS industry is large and growing. P&S Market Research estimates the global GIS software, services and hardware market generates sales of US$9.0bn annually and will grow at a 10% CAGR to reach annual sales of US$17.5bn by 2023.

Last updated on 25/06/2020
Sector
TMT
Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 15.4 45.2 (25.0)
Relative* 12.0 32.4 (10.7)
52-week high/low 36.0p/13.5p
*% relative to local index
Key management
Andy Roberts Chairman
Claire Milverton CEO
Andrew Fabian Interim CFO

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