IDOX (IDOX) Trading Update summary

Group trading performance

• Achieved approximately 20% revenue growth for FY24, reaching around £87.6m, with recurring revenue rising to about £54m.

• Order intake increased by roughly 9% to £89m, reflecting strong customer relationships and market position.

• Adjusted EBITDA grew by about 7% to £26.1m, with an EBITDA margin of 30%.

• Net debt reduced to approximately £10.0m from £14.7m at the previous year-end.

• Continued strong cash flow generation throughout the year.

Strategic developments and outlook

• The Emapsite acquisition enhanced geospatial data capabilities and performed well during the year.

• Ongoing evaluation of further acquisition opportunities to strengthen the offering.

• Optimism about the acquisition pipeline and growth prospects into 2025.

• Despite economic and geopolitical uncertainties, the group remains well positioned for future growth.

• FY24 results will be reported in late January 2025, with an update on early FY25 progress.

Management commentary

• CEO highlighted strong 2024 performance and revenue growth.

• Emphasized the positive impact of acquisitions and market-leading software capabilities.

• Expressed confidence in the group's positioning and future opportunities.