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bravura solutions ASX Release 25 February 2021 1H21 results in line with guidance Bravura Solutions Limited ( ASX : BVS ) ( Bravura ) has today announced its half - year results for the period ended 31 December 2020 . 1H21 results in line with guidance Group 1H21 revenue down 14 % to A $ 115.7m ( A $ 135.1m in 1H20 ) . Group 1H21 EBITDA ¹ down 38 % to A $ 15.8m ( A $ 25.5m in 1H20 ) . Group 1H21 NPAT down 54 % to A $ 9.0m ( A $ 19.8m² in 1H20 ) . Group EBITDA margin¹ declined to 14 % ( 19 % in 1H20 ) . Group 1H21 EPS down 55 % to 3.7cps . Unfranked interim dividend declared of 2.6cps , bringing the dividend payout ratio to 70 % of 1H21 NPAT . Impact of COVID - 19 • • . Bravura's employees have seamlessly transitioned to a 100 % remote working environment . Bravura has continued to support its clients without disruption . Bravura's sales pipeline in all key markets is strong . However , the market uncertainty has resulted in both a lengthening of the sales cycle , as well as clients evaluating more of our products . In the UK , ongoing workplace restrictions have led to a reluctance to embark on major new transformational programs . This has led to a lack of material client deals and less project work . However , pre - sales activity is high . In Australia and New Zealand , Bravura's activities with clients and prospects continue to progress . There has been greater sales activity , albeit with longer deal closure timeframes . In South Africa , COVID - 19 has prompted tighter cost control . However , COVID - 19 has also raised clients ' need to invest in technology automation and project work has continued . Strategy update • Bravura's key markets have seen a number of developments , including : ( 1 ) fund managers moving to provide a wealth management capability , ( 2 ) reduced interest in large scale implementations , ( 3 ) an underserviced middle tier of potential clients , ( 4 ) a heightened desire for lower administration costs , and ( 5 ) greater need for improvement in end customers ' digital experiences . Bravura's technology strategy has evolved to focus on : ( 1 ) increasing componentisation through the development of additional microservices , ( 2 ) further cloud enablement , and ( 3 ) increasing digital and automation capabilities . Bravura's commercial strategy is expected to transition from a traditional revenue model to consumption - based subscription pricing over time . This enables client to spread their investment over a greater period of time , lower their costs to serve by buying only what they need , and access greater automation and digital tools . This evolution in Bravura's strategy broadens its total addressable market . 1 Bravura has consistently included occupancy costs as accounted for under IFRS16 in the calculation of EBITDA . 21H20 NPAT included a A $ 1.7m deferred tax credit arising from acquisitions completed during the period which will reverse over time . Bravura Solutions Limited 1