Annual financial statement
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GlobalData . GlobalData Plc Final Results For The Year Ended 31 December 2020 ( unaudited ) " GlobalData's ' One Platform ' model delivers significant margin improvement " Key performance metrics 2020 Unaudited 2019 Change Audited Revenue £ 178.4m £ 178.2m 0 % Adj . EBITDA1 £ 56.7m £ 49.8m + 14 % Adj . EBITDA margin 32 % 28 % + 4p.p . Statutory PBT £ 28.6m £ 8.0m + 258 % Statutory PBT margin 16 % 4 % + 12p.p . EPS 19.4p 3.3p + 488 % Adj . EPS2 32.9p 30.2p + 9 % Net Debt³ £ 58.1m £ 55.3m + 5 % Deferred revenue £ 74.7m £ 68.6m + 9 % Invoiced forward revenue4 £ 92.7m £ 85.1m + 9 % Financial Highlights · Subscription revenue up by 7 % ( 2019 : 7 % ) , offset by a decline in event revenue due to COVID - 19 Adjusted EBITDA¹ up 14 % to £ 56.7m ( 2019 : £ 49.8m ) • Adjusted EBITDA margin improvement of 4 percentage points to 32 % • Statutory PBT grew by £ 20.6m to £ 28.6m ( 2019 : £ 8.0m ) • Invoiced forward revenue up 9 % to £ 92.7m ( 2019 : £ 85.1m ) , 8 % organic growth in invoiced forward revenue Cash generated from continuing operations up 13 % to £ 59.8m ( 2019 : £ 52.8m ) , 105 % of Adjusted EBITDA ( 2019 : 106 % ) Final dividend of 11.6p , up 16 % ( 2019 : 10.0p ) ; total dividend of 17.0p , up 13 % ( 2019 : 15.0p ) Operational Highlights • Business as usual maintained throughout 2020 Significant advancement in product and platform ; rapid response to customer demand for COVID - 19 intelligence • Continued investment in Growth Optimisation Plan and execution across strategic priorities Mike Danson , CEO of GlobalData Plc , commented : " GlobalData made significant progress in 2020 despite the challenges of COVID - 19 . We continued to execute on our strategic priorities and delivered an impressive operational and financial performance . Excluding events , which account for less than 10 % of our revenues , revenue grew at 7 % , driving Adjusted EBITDA growth of 14 % with margins improving by 4 percentage points to 32 % . " " We have invested considerably over several years to develop our business around a One Platform model . In 2020 , this model proved its worth by enabling us to rapidly pivot our global workforce to remote working with little operational disruption , and to deliver the trusted , actionable intelligence our customers rely on us to provide when it matters most . " " Our performance in 2020 and the attractiveness of the information services sector have given us a strong strategic , operating and financial position from which to grow in 2021. We can look forward to strong organic revenue growth and continued margin improvement in 2021 as we progress towards our medium term Adjusted EBITDA margin target of between 35 % and 40 % and have the ambition to accelerate our organic revenue growth to at least 10 % annually . " See Notes to Editors Note 1 : Adjusted EBITDA : Earnings before interest , tax , depreciation and amortisation , adjusted to exclude costs associated with acquisitions , restructuring of the Group , share based payments , impairment , unrealised operating exchange rate movements and the impact of foreign exchange contracts . Adjusted EBITDA margin is defined as : Adjusted EBITDA as a percentage of revenue . This is reconciled to the Statutory operating profit on page 7 . Note 2 : Adjusted EPS : Adjusted profit after tax per share ( reconciliation between statutory profit and adjusted profit shown on page 7 ) . Note 3 : Net debt : Short and long - term borrowings ( excluding lease liabilities ) less cash and cash equivalents . Note 4 : Invoiced forward revenue : Invoiced forward revenue relates to amounts that are invoiced to clients at the statement of financial position date , which relate to future revenue to be recognised . This is reconciled to deferred revenue on page 9 . 1