dotDigital Group plc Trading Update and Notice of Interim Results (5939C)
January 23 2018 - 1:00AM
UK Regulatory
TIDMDOTD
RNS Number : 5939C
dotDigital Group plc
23 January 2018
dotdigital Group plc
("dotdigital" or the "Company")
Trading Update and Notice of Interim Results
Strong Strategic Progress
dotdigital Group plc (AIM: DOTD), the leading 'SaaS' provider of
an omnichannel marketing automation platform with email at its
core, announces a trading update ahead of the Company's Interim
Results for the six months ended 31 December 2017 ("H1 2018").
The trading performance reported in this statement is based on
unaudited management accounts.
Financial highlights
-- Group revenue grew 25% to GBP18.8m, in line with management expectations (H1 2017: GBP15.0m);
-- Organic revenue grew 17% to GBP17.5m (H1 2017: GBP15.0m);
-- EBITDA also in line with management expectations;
-- Cash balance at 31 December 2017 of GBP10.5m, reflecting cash
outflow of GBP11.5m for acquisition and funding of Comapi during
the period;
-- Following approval at the AGM on 19 December 2017, a final
dividend of 0.55 pence per ordinary share for the year ended 30
June 2017 will be paid on 31 January 2018 to those shareholders on
the register on 12 January 2018.
Operational Highlights
Product innovation
-- Completed acquisition of Comapi, significantly advancing our
progress toward offering a fully integrated omnichannel marketing
platform;
-- Launched additional features to support customer GDPR compliance;
-- Enhanced functionality released to support ecommerce partners.
Geographic expansion
-- International sales represented 25% of total sales, up from 22% in the first half of 2017;
-- Core EMEA business continued to grow at double digit rate
despite some sales cycle lengthening ahead of the introduction of
GDPR in May;
-- Revenue from the US region was up approximately 44% to $3.3m,
(H1 2017: $2.3m) driven by channel partners and system integrators
for Magento and Shopify;
-- APAC sales-team expansion and Channel partners drove revenue
from the region up approximately 75% to AUS$0.9m, (H1 2017
AUS$0.5m).
Developing strategic partnerships
-- dotmailer software bundled into the latest version of the
Magento Ecommerce platform launched in November 2017;
-- Shopify connector launched in July 2017 and client numbers now growing steadily.
-- Sales through strategic partners increased by 35% to GBP7.2m (H1 2017: GBP5.4m);
-- Big Commerce and Woo Commerce integrations have also been launched during the period.
Notice of 2018 Interim Results
dotdigital Group plc will announce its interim results for the
period ending 31 December 2017 on 27 February 2018.
Milan Patel, CEO of dotdigital, commented:
"The last six months have been transformational for dotdigital
as we have made good progress with many of our strategic
initiatives. Our international offering continues to go from
strength to strength and in acquiring Comapi, we have taken a
significant step toward creating a fully-fledged, omnichannel
marketing automation platform. I am pleased with both the speed of
integration of Comapi and the enthusiasm shown by both sets of
employees, while revenues delivered since acquisition have exceeded
our original expectations.
Elsewhere during the period our strategic partnerships have
moved forward as we have strengthened our relationships with
Magento, Shopify and Microsoft. These partnerships continue to
increase our addressable market in all our regions.
Lastly, as GDPR implementation moves closer, we are increasing
our efforts to educate the market through our seminar programme and
by highlighting the additional features now available on our
platform to help achieve compliance with the expected new
regulations that come into force in May 2018.
I look forward to providing more detail of our results and plans
at our interims which are due on 27 February."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
dotdigital Group Plc Tel: 020 3770
Milan Patel, CEO 1502
Phillip Blundell, CFO
FTI Consulting (Financial PR Tel: 020 3727
and Investor Relations) 1000
Matt Dixon
Adam Davidson
N+1 Singer (Nominated Adviser Tel: 020 7496
and Joint Broker) 3000
Shaun Dobson, Head of Corporate
Finance
Liz Yong, Corporate Finance
finnCap (Joint Broker) Tel: 020 7220
Stuart Andrews, Corporate Finance 0500
Rhys Williams, Sales
This information is provided by RNS
The company news service from the London Stock Exchange
END
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