Maintel Holdings PLC Trading Update (6759M)
January 25 2021 - 01:00AM
UK Regulatory
TIDMMAI
RNS Number : 6759M
Maintel Holdings PLC
25 January 2021
Maintel Holdings plc
Trading update for the 12-month period ended 31 December
2020
Resilient performance with trading in line with expectations
Maintel Holdings plc (the "Company", the "Group" or "Maintel")
is pleased to announce the following trading update for the
financial year ending 31 December 2020.
Group revenue and Adjusted* EBITDA are expected to be in line
with the guidance given by the Group at the time of the interims
released on 15 September 2020. This is despite the second national
lock-down which was unforeseen at the time.
Cash generation in the period was strong and period end net debt
of GBP22.3m was better than our expectations, and a notable
reduction from the closing net debt position of GBP25.7m as at 31
December 2019.
Maintel's transition to a cloud and managed services business
continues, with the Group exceeding its target for 100,000
contracted cloud seats by the year end, with 102,000 contracted
seats as at 31 December 2020.
Updated Product Portfolio
The Group remains focused on growth and invested significantly
in its product portfolio during the year, extending Maintel's
intellectual property and ensuring that the portfolio is aligned
with customers' evolving requirements. There were three major
product launches during the year, including:
-- Secure Homeworker - a suite of services designed to enhance
remote workers' productivity and availability to business while
working remotely, at the same time ensuring that sensitive data,
networks and devices are kept secure
-- Callmedia CX-Now - a public-cloud Contact Centre as a Service (CCaaS) offer
-- ICON Teams Connector - services to enable organisations to
make use of Microsoft Teams' service for telephony as well as
collaboration, and allowing integration with contact centre and
more traditional PBX services
Commenting on the Group's performance, Chief Executive Officer,
Ioan MacRae, said:
"We are delighted to be able to announce that, despite the
unforeseen second national lockdown in Q4, we were still able to
achieve the goals we set out for our second half, while continuing
to develop our business and position it for a competitive future.
That we were able to meet or exceed all our financial targets,
while continuing to develop our capabilities and exceed 100,000
cloud seats, is a testament to our employees' talent and
dedication. We look forward to providing further updates as the
year progresses."
*Adjusted EBITDA is earnings before interest, tax, depreciation
and amortisation, adjusted for share based payments and exceptional
costs.
For further information please contact:
Ioan MacRae, Chief Executive Officer
Mark Townsend, Chief Finance Officer
Rufus Grig, Chief Strategy Officer 0344 871 1122
finnCap (Nomad and Broker)
Jonny Franklin-Adams / Emily Watts / Kate Bannatyne
(Corporate Finance)
Richard Chambers / Sunila de Silva (Corporate
Broking) 020 7220 0500
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END
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