Coronavirus Update

GlobalData Plc - Unaudited Interim Report

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GlobalData Plc

Unaudited Interim Report For The Six Months Ended 30 June 

"Sustained strong performance, with growth in earnings and cash flow"

Financial Highlights

· Subscription revenue grew by 7% (FY 2019: 10%), offset by some events revenue being postponed or cancelled, with overall Group revenue marginally down by 2% to £86.7m (30 June 2019: £88.5m)

· Increase in operating profit of 53% to £11.5m (30 June 2019: £7.5m). Operating profit margin increased to 13% (30 June 2019: 8%)

· Increase in Adjusted EBITDA 2 by 12% to £27.2m (30 June 2019: £24.2m), with progression in Adjusted EBITDA margin 2 to 31% (30 June 2019: 27%)

· Statutory profit before tax increased by 79% to £9.3m (30 June 2019: £5.2m). Adjusted profit before tax 1   increased to £21.2m (30 June 2019: £19.5m)

· Deferred revenue increased by 4% to £80.6m (30 June 2019: £77.2m)

· Cash flow from operations increased by 18% to £41.1m (30 June 2019: £34.7m), which represents 151% of Adjusted EBITDA (30 June 2019: 143%)

· Interim dividend increase of 8% to 5.4 pence per ordinary share (30 June 2019: 5.0 pence), in line with growth of Adjusted EBITDA (pre IFRS 16).

Operational Highlights

· Resilient and agile response to COVID-19 pandemic, with the Group benefitting from visible, recurring revenues and demonstrating the advantage of our central operating model and single product platform.

· Rapid deployment of industry specific COVID-19 data, analytics and insights helped our clients, and Communities, understand their markets and better navigate through these unprecedented times.

· Completed the re-financing of our debt facility, with £145.5m of committed facility and a further £75m uncommitted accordion facility. The new banking arrangements, together with cash reserves, give the Group liquidity in excess of £100m for further acquisitions.

Mike Danson, Chief Executive Officer of GlobalData Plc, commented:

"The first half results reflect sustained performance across our subscription based data and analytics business, driven by growing demand for our trusted intelligence products.

Although COVID-19 was an unprecedented challenge which posed abnormal trading conditions, our robust business model enabled continued revenue growth across our subscription business and earnings growth for the Group. Given the circumstances, the performance of the Group in the first half was strong, with growth in almost all financial metrics, and we are confident that with our strong financial position and robust operating model, we are well positioned to deliver sustainable growth beyond 2020."