Half Year 2024 Ebiquity PLC Earnings Call Transcript
Key Points
- Ebiquity PLC (FRA:YO4) has experienced a strong tailwind in new business activity from Q2 onwards, leading to an improved trajectory for the second half of the year.
- The company has a full pipeline, providing a strong start into 2025, with 88% of full-year expected revenue already secured.
- Ebiquity PLC has successfully reorganized its operating model to become more scalable, focusing on technology-enabled services and global consistency.
- The company has made significant progress in rolling out its GMP365 data management platform, with increased client activity and identified delivery hour savings.
- Ebiquity PLC has expanded its client base with new global logos such as Airbnb and UBS, and has extended relationships with existing clients like Disney and BMW.
- Ebiquity PLC faced a disappointing first half of the year, with a 7% decline in revenue compared to the previous year, impacting profits and compressing margins.
- The company experienced challenges in North America, failing to convert new business opportunities and losing clients, which affected growth in the region.
- There were increased operating expenses due to dual running of old and new models, impacting financial performance during the transition period.
- Net debt remained stable at GBP15.3 million, contrary to expectations of a reduction, due to lower trading performance and exceptional cash outflows.
- The transition of Benchmarking services onto the GMP365 platform has faced obstacles, requiring modifications to cater for local market nuances, delaying expected efficiencies.
Good afternoon, ladies and gentlemen, and welcome to the Ebiquity plc Half Year Results Investor Presentation. (Operator Instructions) Before we begin, we would like to submit the following poll. And if you could give that your kind attention, I'm sure the company would be most grateful. And I would now like to hand you over to the executive management team from Ebiquity plc. Nick, good afternoon, sir.
Great. Thank you very much, Jake, and thank you for joining us this afternoon for the call to present the half year results for Ebiquity for the year ended -- half year ended 30th of June. I'm Nick Waters, the Chief Executive. I'm joined on this call by Brian Porritt, who's our Interim CFO. I will start with a very brief summary before handing the slides to Brian to go through the financial data before returning.
So it's been a disappointing first half of the year, there's no getting away from that. Some of that is down to external market circumstances and some of it of our own making, and I'll come and
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