Full Year 2024 Tpximpact Holdings PLC Earnings Call Transcript
Key Points
- TPXimpact Holdings PLC (LSE:TPX) achieved or exceeded all of its financial targets for the last 12 months.
- Net debt was reduced to GBP 7.1 million, the lowest it has been for some time.
- Revenue grew to GBP 84.3 million, representing a 21% like-for-like growth.
- The company achieved B Corp certification, enhancing its reputation and appeal to clients and employees.
- New business wins amounted to GBP 139 million, providing a strong multiyear backlog of work.
- The company reported an operating loss of GBP 22.8 million due to goodwill impairment related to the Red Cortex business.
- Gross margin declined from 27% to 25%, partly due to the need to engage third-party partners for large government contracts.
- The ethnic minority pay gap increased from 8% to 15%, indicating room for improvement in diversity and inclusion.
- The company is heavily reliant on the public sector, which accounted for approximately 65% of its revenues, posing a risk if public sector spending decreases.
- Interest payments were GBP 2.2 million, driven by high borrowing levels and interest rates, although this is expected to decrease in the coming year.
Good morning, and welcome to TPXimpact Holdings PLC investor presentation. Throught this presentation, investors will be in listen-only mode. Questions are encouraged and can be submitted anytime by the Q&A tab situated in the right corner of your screen. Just simply type in your questions and press send.
The company may not be in the position to answer every question it receives and meeting itself; however, the company can review you all the questions submitted today and publish responses where it's appropriate to do so. Before we begin, I'd like to submit the following poll. I'd now like to hand over to Bjöern Conway, CEO. Good morning to you, sir.
Good morning, and thank you very much and thank you to everybody for attending this call. My name is Bjorn Conway, I'm the Chief Executive at TPXimpact. I've been here since October 2022. And my recent background before that, I was at EY where I ran the public sector team and doubled the team size over a period of five
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