5 May 2021
iomart Group plc
("iomart" or the "Group" or the "Company")
Capital Markets Day
iomart Group plc (AIM: IOM), the cloud computing company, as notified at the time of its pre-close trading update on 7 April 2021, will be hosting a virtual Capital Markets Day at 2pm today. The event will provide an update to investors and analysts on the evolution of the Group's strategy.
Investors and analysts wishing to attend the event should register by contacting firstname.lastname@example.org.
The presentation will discuss the Group's aspirations to:
§ Exceed £200m+ revenue within 5 years
§ Be a leading secure hybrid cloud business
§ Be a trusted business and service partner for our customers
§ Expand our solution, service, skill and geographical reach
The presentation will outline the strategic value creation roadmap for the next two years, centred around four areas of activity which will build upon the strong foundations of today:
§ Core portfolio organic growth
§ New services and geographies
§ Complementary acquisitions
§ Protect the existing base of run rate Revenue & EBITDA
No new material trading information will be disclosed, however Scott Cunningham, CFO will outline medium-term financial targets for revenue (greater than £200m), adjusted EBITDA(1) margin % (more than 30%), adjusted profit before tax(2) margin % (more than 15%) and average free cash flow(3) as a % of revenue (more than 15%). The speed and accuracy of reaching targets will depend on specific timing of investments and M&A made.
A copy of the presentation will be made available on the Company's website at 2pm to coincide with the start of the event using the following link: https://www.iomart.com/investors/financial-reports/.
Reece Donovan, Chief Executive Officer, commented:
"Today we outline the start of a new chapter for iomart, building on the strengths of our current business model. Our customers expect highly reliable connectivity and infrastructure services, and a seamless user journey across all platforms. They are looking for the support to protect their information and that of their customers. We have the infrastructure, expertise and track record to meet those expectations and guide businesses as they prepare to adapt to new ways of working now and in the future.
"The future of work has shifted in light of the global pandemic with a sharp increase in combined remote and in-office working practices being adopted throughout the UK market and beyond. We believe we are in a fantastic position to support these accelerating trends by building on our proven delivery model and further augmenting our offering with additional focus on the tools and services required for businesses to connect, secure and scale operations in the new hybrid working environment.
"We have identified a significant market opportunity, growing our propositions in hybrid cloud, security, the Digital Workplace and connectivity. With a clear strategic route-map in place for future growth, I am confident in our ability to capture the opportunity ahead."
(1)adjusted EBITDA means earnings before interest, tax, depreciation, amortisation, share based payment charges, gains or losses on revaluation of contingent consideration, acquisition related costs and non-recurring items.
(2)adjusted profit before tax means profits before, tax, share based payment charges, amortisation of acquired intangibles, gains or losses on revaluation of contingent consideration, acquisition related costs and non-recurring items.
(3)free cash flow means cash flow from operations less taxation payments and investments in tangible and intangible assets (excluding any acquisition related costs and non-recurring items).
For further information:
iomart Group plc
Tel: 0141 931 6400
Reece Donovan, Chief Executive Officer
Scott Cunningham, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Joint Broker)
Tel: 020 7418 8900
Edward Knight, Paul Gillam, Nick Prowting
Investec Bank PLC (Joint Broker)
Tel: 020 7597 4000
Patrick Robb, Virginia Bull, Sebastian Lawrence
Tel: 020 3405 0205
Caroline Forde, Hilary Buchanan, Helena Bogle, Joe Pederzolli
About iomart Group plc
For over 20 years iomart Group plc (AIM: IOM) has been helping growing organisations to maximise the flexibility, cost effectiveness and scalability of the cloud. From data centres we own and operate in the U.K., and from connected facilities across the globe, we can provide multiple secure infrastructure solutions from branch office backups, to hyper cloud migrations, and everything in between, delivered typically with a 24/7 managed service. Our team of over 400 dedicated staff work with our customers at the strategy stage through to delivery and ongoing management, to implement the secure cloud solutions that deliver to their business requirements.
For further information about the Group, please visit www.iomart.com