Currency in GBP
Last close As at 09/06/2023
GBP0.49
▲ −0.50 (−1.02%)
Market capitalisation
GBP54m
Research: TMT
1Spatial has announced that Andy Fabian will be stepping down as CFO on 19 December, to be replaced by Stuart Ritchie, currently CFO at Fusion Global, an international provider of SaaS workflow software. Mr Fabian has played a key role in putting 1Spatial on a sound financial footing, rebuilding investor confidence in the business and developing the current growth strategy. With these foundations in place, this change is being made to help drive an acceleration in growth and transition to a SaaS/subscription model.
1Spatial |
Change of CFO |
Change of CFO |
Technology |
15 December 2022 |
Share price performance Business description
Analysts
1Spatial is a research client of Edison Investment Research Limited |
1Spatial has announced that Andy Fabian will be stepping down as CFO on 19 December, to be replaced by Stuart Ritchie, currently CFO at Fusion Global, an international provider of SaaS workflow software. Mr Fabian has played a key role in putting 1Spatial on a sound financial footing, rebuilding investor confidence in the business and developing the current growth strategy. With these foundations in place, this change is being made to help drive an acceleration in growth and transition to a SaaS/subscription model.
Year end |
Revenue |
EBITDA* (£m) |
EBIT* (£m) |
EPS* |
P/Revenue |
P/E (x) |
01/21 |
24.6 |
3.6 |
0.4 |
0.2 |
2.2 |
280.7 |
01/22 |
27.0 |
4.2 |
1.3 |
0.8 |
2.0 |
63.0 |
01/23e |
29.0 |
4.9 |
2.0 |
1.2 |
1.9 |
40.3 |
01/24e |
31.2 |
5.7 |
2.7 |
2.3 |
1.7 |
21.3 |
Note: *EBITDA, EBIT and EPS exclude amortisation of acquired intangibles, exceptional items and share-based payments.
Over the past two years, 1Spatial has seen United States and European growth drive improving financial performance. However, as we have discussed in previous reports, we see potential for an acceleration, driven by strong fundamentals within the geospatial information systems market, the launch/development of new SaaS applications (eg traffic management, Next Generation 911) and the development of a partnership network. We believe that this transition is being made to optimise management structure through this next phase of growth.
Mr Ritchie joins 1Spatial from Fusion Global, an international provider of SaaS-based workflow software with £30m in annual revenue. His previous roles include global head of accounting and external reporting at Zeal Network, a Frankfurt-listed ecommerce group.
The transition will take place as of 19 December, with Mr Fabian remaining with the business until 23 February 2023 to ensure a smooth handover.
|
|
Research: Industrials
Cohort’s expertise in innovative defence and security products and services are increasingly suitable for a wide range of global customers whose budgets are likely to rise. It is in a prime position to benefit from the growth in global defence spending that should result from increased geopolitical tension. We expect a return to sustainable organic growth in the current year accompanied by strong cash flow. An FY24e P/E multiple of 11.8x is undemanding, accompanied by 10% dividend income growth.
Get access to the very latest content matched to your personal investment style.