Thursday, 20 August 2015 – Sydney – International automotive software developer, Infomedia Ltd (Company) announces its 2015 financial year results and dividend.
For the full year ended 30 June 2015:
| FY2015 ($’000) |
FY2014 ($’000) |
INCREASE | |
| Sales Revenue | 60,385 | 57,143 | 6% |
| Net Profit After Tax (NPAT) | 13,232 | 12,279 | 8% |
| Cash Flow from operating activities | 16,273 | 12,493 | 30% |
Sales Revenue grew by 6% to $60.4m (FY2014: $57.1m) which includes Electronic Parts Catalogues (EPC) revenue growth of $2.5m. Revenue from the Superservice Platform remained constant and revenue from other services grew by $0.7m.
NPAT grew by 8% over the previous corresponding period to $13.2m (FY2014: $12.3m) as a result of growth in sales revenue. NPAT margin increased by 0.4% to 21.9%.
In constant currency terms, Sales Revenue rose by $1.8m. Operating costs rose by $2.7m due to increased business development, and enhancing the Superservice Platform functionality for key customers. Foreign currency translations favourably affected EBITDA over the prior year by $2.2m. Consequently, the Company achieved an EBITDA (excluding capitalisation of research and development) of $17.9m, an increase of $1.4m (8.5%) compared to the prior year.
The Company achieved considerable positive momentum in monthly recurring revenue in the last few months of the financial year. This is evidenced by June 2015 monthly recurring revenue being in line with June 2014, in spite of the decision not to renew a major contract in January 2015 on commercial grounds.
The Company continues to generate strong cash flows: cash flow from operating activities increased by 30% to $16.3m due to increased profit and a reduction in working capital.
The Board has declared an unfranked final dividend payment of 1.70 cents per share which is 85% of full year NPAT, the maximum under its dividend policy.
In recognition of the strong cash flow in FY15, the Board has also declared a special dividend payment of 0.25 cents per share, fully franked.
These dividends, together with the interim dividend of 1.94 cents, result in a total cash dividend of 3.89 cents for the full year which is 3% higher than the prior year.
The record date to determine entitlements to the dividend distribution is 2 September 2015 and the date on which the dividend is payable is 15 September 2015.
Looking to the year ahead, the Company expects to generate sales revenue growth, while maintaining NPAT margins at FY2015 levels.
Investor Call
The Company will be hosting a conference call for investors. Details for the call are as follows:
Date/Time: Friday, 21 August 2015 at 9.30 am AEST
Dial-in Numbers:
Australia: (02) 9020 4911
International: +65 671 354 90
Conference ID: 15205988
