Atturra (ATA) H2 2024 earnings summary

Executive summary

• Achieved FY24 revenue of $243.4m, up 36% year-over-year, with strong organic and acquisition-driven growth.

• Underlying EBITDA rose 21% to $25.5m, and underlying NPATA increased 27% to $16.3m compared to FY23.

• Cash balance reached $60.6m, supporting future acquisitions and growth initiatives.

• Fully compliant with most ASX Corporate Governance Principles and Recommendations as of 26 August 2024, with detailed disclosures on governance practices and policies.

• Board comprises four members, with two considered independent; the chair is not independent but is not the CEO.

Financial highlights

• Revenue grew 36% to $243.4m; underlying EBITDA up 21% to $25.5m; underlying NPATA up 27% to $16.3m year-over-year.

• Gross margin improved to 32% from 30% in FY23; underlying EBIT margin declined slightly to 6%.

• EPS decreased 24% to 3.57 cents; reported NPAT down 9% to $9.7m.

• Cash and cash equivalents increased 37% to $60.6m; net assets rose 67% to $150.2m.

• Operating cash flow up 13% to $11.8m; significant capital raising of $50m and investments in subsidiaries of $49m.

Outlook and guidance

• FY25 revenue forecast above $292m and underlying EBITDA forecast above $30m.

• Continued investment in Managed Services and industry solutions, with a focus on transformational deals in FY26/27.

• Selective offshore expansion planned where Atturra is a market leader.