Begbies Traynor (BEG) investor relations material

Executive summary

• Achieved tenth consecutive year of profitable growth, with double-digit increases in revenue and EBITDA; revenue rose 12% to £153.7m, adjusted EBITDA up to £31.7m, and adjusted profit before tax at £23.5m.

• Adjusted diluted EPS increased to 10.5p, and dividend grew 8% to 4.3p, marking the eighth consecutive year of dividend increases.

• Net cash position at year-end, reflecting strong cash generation and robust financial health.

• Expanded team by 8% and made senior hires across all service lines to support long-term growth.

• Maintained market-leading position in insolvency and property advisory, with strong performance across both divisions.

Financial highlights

• Revenue up 12% year-over-year (10% organic, 2% acquired); adjusted EBITDA up 11%; adjusted profit before tax up 7% to £23.5m.

• Free cash flow increased 56% to £19.4m, driven by improved working capital and reduced lockup.

• Net cash inflow of £2.3m, ending the year with a net cash position of £0.9m versus net debt of £1.4m last year.

• Dividend payments totaled £6.3m; share buybacks and acquisition payments executed.

• Adjusted diluted EPS grew 6% to 10.5p; proposed total dividend up 8% to 4.3p.

Outlook and guidance

• Revenue expected at the upper end and profits in line with market expectations for the new financial year.

• Continued investment in senior hires and organic growth; robust balance sheet supports ongoing M&A pipeline.

• Guidance for group revenue and costs to grow around 7–8% for the coming year, reflecting ongoing investment and inflation.

• Confident in maintaining growth trajectory and providing next update at the AGM in September.