19 October 2021
Oxford Metrics plc
("Oxford Metrics" or the "Group")
Trading Statement and Capital Markets Day
Oxford Metrics plc (LSE: OMG), the international software company servicing government, life sciences, entertainment and engineering markets, provides the following update on trading for the financial year ended 30 September 2021. Later today, the Group will hold a Capital Markets Day at which it will discuss its five-year growth strategy as well as offer interactions with customers and key management team members.
The Group expects to report revenues of approximately £35.7m and an Adjusted PBT* of approximately £4.6m for the financial year. The Group finished the year with a robust cash position of £23.0m and no debt.
The stronger than expected outturns were driven by a good performance across both divisions. Vicon experienced growing demand during the second half and is expected to report a very profitable year together with a solid order-book for next financial year. Yotta achieved its ARR year-end goal and is also expected to deliver a full year of profitability.
As in many industries, Vicon is currently experiencing some short-term supply chain challenges arising from the well-publicised global semiconductor shortage. The Board believes this may impact revenues in the first half of the next financial year but overall, the fundamentals at Vicon remain clear and it is very well placed to capitalise on the substantial market opportunity. Yotta is expected to achieve continued growth in ARR and improve profitability further. The Group as a whole, remains in a robust financial position which enables the business to pursue its internal investment and M&A objectives in the year ahead.
The Group expects to announce Preliminary Results for the financial year ended 30 September 2021 on Thursday, 2 December 2021.
Capital Markets Day and five-year growth strategy
At a Capital Markets Day to be held later today, the Group will outline its strategic growth ambitions for the next five years. It is the Group's view that the strength of its current platform, combined with the strong financial footing it has achieved over the past five years of organic and inorganic revenue growth, provide it with routes to capitalise on latent opportunities for growth.
More details will be shared of both organic and M&A-driven activity that the Board believes can deliver its growth ambitions. At the centre of this activity sits 'Smart Sensing' - the core of Oxford Metrics' sales and product development strategy, which enables customers across multiple markets to:
· 'Sense' data from a wide variety of sensors, including cameras, across their business and research activities;
· 'Analyse' that data to better understand the services they provide, situations they manage or operations they run; and
· 'Apply' that data to deliver better outcomes and new innovations
Through pursuit of opportunities aligned to these three areas, Oxford Metrics believes it can meaningfully enhance its product and go-to-market offering in the coming years, significantly increasing its Total Addressable Market (TAM) over the next five years. The event will be recorded and material from the day will be made available on the Oxford Metrics website.
* "Adjusted PBT has been determined after adding back non-cash items such as share based payments, amortisation and impairment of intangibles arising on acquisition and one-off exceptional costs"
For further information please contact:
Oxford Metrics +44 (0) 1865 261860
Nick Bolton, CEO
David Deacon, CFO
Numis Securities Limited +44 (0)20 7260 1000
Simon Willis / Hugo Rubinstein / Matthew O'Dowd
FTI Consulting +44 (0) 20 3727 1000
Matt Dixon / Jamille Smith / Greg Hynes
About Oxford Metrics
Oxford Metrics develops and markets analytics software for motion measurement and infrastructure asset management to clients in over 70 countries worldwide. Our list of clients across the globe is as diverse as the markets we operate in: we help highways authorities manage and maintain their road networks, hospitals and clinicians decide therapeutic strategies and Hollywood studios create stunning visual effects. And the diversity of applications is growing all the time.
The Group trades through two market-leading divisions: our motion measurement division, Vicon, and our infrastructure asset management division, Yotta. Vicon is the world's leader in high-precision motion measurement analysis to thousands of customers worldwide, including Guy's Hospital, EA Sports, MIT and NASA, and our software is used in an ever-expanding range of applications. Yotta provides cloud-based infrastructure asset management software to central and local government agencies and other infrastructure owners. Yotta has a large number of high-profile clients including Highways England, over 160 local authorities across the UK, VicRoads in Australia and Auckland Motorway System in New Zealand.
Founded in 1984, the Group is headquartered in Oxford with offices in Leamington Spa, Gloucester, California, Colorado, Singapore and Auckland. Since 2001, Oxford Metrics (LSE: OMG), has been a quoted company listed on AIM, a market operated by the London Stock Exchange.
For more information about Oxford Metrics, visit www.oxfordmetrics.com