StatPro Group announced in its trading update for the year ended 31 December 2018 that Group revenue is expected at approximately £54.7m, up 11% from £49.3m in 2017. Group adjusted EBITDA is expected to be approximately £9.0m, up 32% from £6.8m in 2017. Adjusted EBITDA margin is expected to be over 16% (2017: 13.9%) and Group annualised recurring revenue (ARR) grew by 4% to £55.7m.
StatPro Revolution’s accounting rate of return (ARR) increased organically by 17% (2017: 13%), while the ARR renewal rate was at 92% vs. 89% in 2017. Net debt stood at £24.6m (2017: £20.2m), reflecting acquisitions and investments in the financial group ODDO-BHF, as well as the Investor Analytics and Infovest firms. As announced earlier, Delta will be integrated directly with the Revolution platform, removing any uncertainty for StatPro clients regarding the future of the Delta service.
Justin Wheatley, StatPro Group’s CEO, commented: “Overall we signed 20 clients in eight different countries for contracts greater than $100k per annum, including seven banner deals in 2018, underscoring the momentum we are building across the industry. As we have stated before, we are focused on improving our margins and have delivered a significant increase in adjusted EBITDA margin in 2018 – this remains a focus for the current year.”