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Proactis announces strong final results for financial year ending 31 July 2018
30 August 2018
- Proactis, the global spend management and B2B eCommerce company, today announced its audited results for its financial year ending 31 July 2018. These results consolidate Proactis’ position as the fifth largest player in the procurement solutions market by revenue, globally.
Total contract value (‘TCV’) signed increased by 75% to £12.1m (2017: £6.9m).
New name volumes increased by 19% to 64 (2017: 54).
Upselling volumes increased by 3% to 113 (2017: 110).
Reported revenue increased by 106% to £52.2m (2017: £25.4m).
Annualised Recurring Revenue has increased by 100% to £45.1m (2017: £22.6m).
Adjusted EBITDA increased by 119% to £17.3m (2017: £7.9m).
Adjusted operating profit increased by 205% to £13.1m (2017: £4.3m).
Strategic acquisition of Esize, completed 6 August 2018 consolidating position in Northern Europe.
Hamp Wall, Chief Executive Officer, commented: "I remain encouraged by the progress the Group has made during the year. The Group’s new business performance is as strong as we had planned for and our retention performance has recovered to more normalised. The new name and upsell performance was strong in both volume and value and this gives me confidence that we will see sustainable organic growth. Our consolidation and growth in key territories puts us in a very strong position for the coming year in a growing marketplace. We are currently trading in line with management expectations and the Board looks forward to driving value for our shareholders."
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