GlobalData (DATA) H1 2024 earnings summary

Executive summary

• Achieved 3% reported revenue growth to £139.6m and 5% underlying revenue growth for HY24 compared to HY23, with 78% of revenue from subscriptions.

• Adjusted EBITDA rose 8% to £57.8m, with margin improving to 41% (up 2pts year-over-year).

• Profit before tax increased 13% to £26.9m; adjusted EPS up 12% to 3.8p.

• Completed 40% sale of Healthcare business to Inflexion, raising £451.4m and moving to a net cash position of £188.3m.

• Launched Growth Transformation Plan 2024-2026, focusing on sales, product, AI, and M&A.

Financial highlights

• Operating profit grew 2% to £37.8m; operating margin stable at 27%.

• Operating cash flow up 19% to £75.2m; free cash flow at £39.2m (down 10% due to higher taxes from restructuring).

• Interim dividend increased 7% to 1.5p per share.

• Invoiced Forward Revenue up 2% to £125.9m, supporting over 80% revenue visibility.

Outlook and guidance

• On track to meet FY24 expectations, with strong H2 momentum and robust M&A pipeline.

• Targeting 45% Adjusted EBITDA margin and £500m annualised revenue by end of 2026.

• Ambition for high single to double-digit organic revenue growth, supplemented by strategic M&A.