29 October 2020
- Proactis, the spend management and digital trade experts, today announced its audited results for the financial year ended 31 July 2020.
The Group reported a record year in new business with total contract value (“TCV”) signed - up by 29% to £14.6m (2019: £11.3m). Reported revenues of £49.6m (2019: £54.1m) reflective of prior year new business / churn performance and adjusted EBITDA of £11.8m (2019: £15.1m), in line with market expectations.
A number of post period end highlights were also reported including:
- Strategic new business wins in DE and FR
- Early adopters identified for bePayd platform
Tim Sykes, CEO commented: “Despite the challenging macro-economic environment, we have executed our strategy well as we drive the Group toward a return to growth in FY21 and beyond. Our strategy is to replicate the go-to-market strategy of the UK and Netherlands in each of the US, France and Germany and we have made substantial headway with first sales of our mid-market single platform solution in Germany and France.
The Group's new business performance is encouraging and combined with our return to organic growth in underlying ARR are material indicators of our progress. Our business has proved to be robust through this extraordinary period and our pipeline and forward revenue visibility positions us well for the future. We're in an exciting growth market and are poised to accelerate our growth, earnings and cash flow over the coming years.”
View the full trading results