CERILLION PLC — Earnings Release 2024

Oct 21, 2024

National Storage Mechanism | Additional information

RNS Number : 8509I

Cerillion PLC

21 October 2024

AIM: CER

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Cerillion plc

("Cerillion" or "the Company")

Trading Update

Cerillion, the billing, charging and customer relationship management software solutions provider, is pleased to provide an update on trading for the financial year ended 30 September 2024.

The Company traded well over the second half of the financial year, after record first-half revenue and adjusted pre-tax profit. Revenue for the year is expected to be approximately £43.8m (2023: £39.2m), and adjusted profit before tax is expected to be comfortably ahead of the consensus market forecast of £17.9m (2023: £16.8m). The balance sheet remains strong, with net cash at the financial year-end increased to £29.8m (30 September 2023: £24.7m).

Total new orders signed in the year were significantly greater than in any previous year, reflecting new customer wins as well as the growing value of the installed base. The full benefit of these new orders is still to come through. New orders secured in the period included two major new customer agreements; a €12.4m win signed in early November 2023 with Virgin Media Ireland and an $11.1m contract signed in May 2024 with a leading provider of connectivity solutions in Southern Africa. As part of its expanding commitment to near-shoring in Bulgaria, the Company also moved to a new office in Sofia, in line with its growth plans.

The Company has entered the new financial year with a robust back-order book* and a strong sales pipeline, which includes some large opportunities. The Board continues to view growth prospects very positively.  

Notice of Results

Full year results are due to be reported in late November 2024, when the Company will also provide a further update on current trading. 

*Back-order book consists of sales contracted but not yet recognised as revenue at the end of the reporting period plus annualised support and maintenance revenue.

Enquiries:

Cerillion plc	c/o KTZ Communications
Louis Hall, CEO	T: 020 3178 6378
Andrew Dickson, CFO
Panmure Liberum (Nomad and Joint Broker)	T: 020 3100 2000
Bidhi Bhoma, Edward Mansfield, Matthew Hogg, Freddie Wooding
Singer Capital Markets (Joint Broker)	T: 020 7496 3000
Rick Thompson, James Fischer
KTZ Communications	T: 020 3178 6378
Katie Tzouliadis, Robert Morton

About Cerillion

www.cerillion.com

Cerillion is a leading provider of mission critical software for billing, charging and customer relationship management ("CRM"), mainly serving the telecommunications market but also other sectors such as utilities and financial services. The Company currently has c.80 customer installations across c.45 countries. Headquartered in London, Cerillion also has operations in India and Bulgaria, as well as sales presence in the USA, Singapore and Australia.

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