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Kalibrate Technologies – Interim results

Kalibrate Technologies – Interim results


Kalibrate Technologies plc (AIM: KLBT), a provider of proprietary software-based products and services to the global fuel retail industry, announces its unaudited interim results for the six months ended 31 December 2014.

Financial highlights:
· Revenue increased by 11% to $15.6 million (H1 2014: $14.1 million)
· Recurring revenues of $20.7 million as at 31 December 2014, an increase of $1.1 million since 30 June 2014
· Underlying* EBITDA** increased by 18% to $2.3 million (H1 2014: $2.0 million)
· Underlying* operating profit before tax of $1.8 million (H1 2014: $1.7 million)

* – Before exceptional items, business combination amortisation, finance costs and other comprehensive expense or income
** – Earnings before interest, tax, depreciation and amortisation, exceptional items, business combination amortisation, finance costs and other comprehensive expense or income

Operational highlights:
· Strong performance in core markets of North America, Europe and South Africa with significant new clients acquired
· Geographical expansion with clients added in new markets including Mexico, Brazil, Kenya and the Philippines
· Successful cross-selling with 4 clients using both Pricing and Planning solutions, bringing the total to 31
· 100% client retention
· Launched Kalibrate Cloud to house all Pricing solutions in one cloud-based platform
· Multi-country managed services contract for a major oil company’s petroleum retail network now fully implemented
· Strong growth in SaaS deals with 9 clients moving from perpetual license structure to SaaS platform, representing $2.9m in bookings
· 22 managed services clients now secured, up from 12 at the start of the financial year

Commenting on the results, Bob Stein, CEO of Kalibrate, said:

“These results demonstrate continued delivery against our stated strategy of growing in our core markets and expanding into new geographies, with more clients now using both our Pricing and Planning products. Our managed services offering continues to gain momentum and we are seeing good demand for our SaaS platform which further increases our revenue visibility.

“We have continued to invest in our product set and remain well placed to support existing and new clients in markets that are or will soon be deregulating fuel pricing.

“With over $20 million in recurring revenues at the start of the year and a strong deal pipeline as we enter the second half, we remain confident that the Group is on track to meet expectations for the year as a whole.”