GLOBO plc (“Globo” or the “Group”) Strong growth momentum for H1 2013July 25, 2013
Globo (LSE-AIM: GBO), the international leader and technology innovator delivering enterprise mobility management and telecom software products and solutions, today provides a trading update for the 6 months ended 30 June 2013.
Globo has maintained strong growth momentum and is pleased to report that revenues for the period increased by 51% per cent year-on-year in the first half of 2013 to approximately €32 million (6 months continued operations ended 30 June 2012: €21.1 million), ahead of market expectations. We also anticipate that EBITDA and PBT will be slightly ahead of market expectations.
This strong performance reflects ongoing demand for our GO!Enterprise platform, which recorded revenue growth of 133% year-on-year to €10.2 million (H1 2012: €4.4 million), and our consumer mobility products (CitronGO! and GO!Social) which recorded revenue growth of 22% to €17.9 million (H1 2012: €14.7 million).
Both revenue segments generate recurring service and licence revenues and, at the same time, GO!Enterprise generates project development revenues via deployment by customers requiring additional mobile platform application development services
In line with normal seasonality favouring the second half, the Group anticipates revenues and margins will continue to increase over the remainder of the year supported by new distribution and partnership agreements under way. Financial performance in the second half of this year will also benefit from the development of sales within our US & Canada distribution agreement, which since the beginning of July is fully active with sales already being recorded.
Operating cash flows after working capital needs and investments have resulted in a net cash position of €9.2 million, with total cash of €21.5 million at the end of the 6 month period.
Globo’s CEO, Costis Papadimitrakopoulos commented:
“During the first half of 2013, we have sustained strong growth and made substantial progress with building up our business in all geographies and technologies around the Enterprise Mobility space.
Globo is positioned to serve all different market segments and is looking to becoming one of the market leaders in the Enterprise Mobility space as our platform offers a broader range of functionality compared to our competitors.
With offerings that range in size from Enterprise licences to cloud offering down to retail box, in functionality from BYOD to application development and consumer apps, and in pricing from monthly to perpetual licence model, Globo has one of the strongest product and commercial offerings in the market today that makes us confident for the future.”
The Group expects to announce interim results in September 2013.