1Spatial

LN: SPA

£38.7m market cap

33.5p 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

Several recent contract wins (CalOES in the US plus NGN and ENA in the UK) showcase the strengths of 1Spatial’s 1Integrate platform and the potential of the LMDM (Location Master Data Management) segment the company is addressing. The economic impacts of COVID-19 may be clouding the macro outlook but, at a company level, these wins, coupled with rising recurring revenue and a growing order book of contracted sales, suggest growing momentum.

Y/E Jan
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2019A 17.6 1.2 (0.5) (0.57) N/A N/A
2020A 23.4 3.2 0.8 0.58 60.3 67.4
2021E 24.0 3.2 0.0 0.0 N/A 9.2
2022E 25.1 3.6 0.3 0.22 159.1 8.3
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 23/02/2021
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Sector
TMT
Share price graph
Balance sheet
Forecast net cash (£m) 4.3
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 25.0 29.6 37.3
Relative* 22.1 24.6 35.3
52-week high/low 35.0p/13.5p
*% relative to local index
Key management
Andy Roberts Chairman
Claire Milverton CEO
Andrew Fabian Interim CFO

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