iEnergizer revenues rise, though earnings remain flat

Digital publishing and technology company iEnergizer posted its interim results for the six months to 30 September on Friday.

The London-listed firm reported revenues of $71.5m, up from $68.9m, with adjusted EBITDA of $16.4m, marginally lower than $16.6m a year earlier.

Adjusted EBITDA margin was 23%, narrowing slightly from 24%.

Operating profit of $13.8m was up slightly from $13.7m, while the company’s operating profit margin of 19.3% was narrower than the 19.9% in the first half of 2015.

Profit before tax was $10.2m, up from $9.3m, with the profit before tax margin reaching 14.2%, compared to 13.4%.

The company had cash and cash equivalents of $11.9m at period end, up from $10.2m at the start of the year.

Term Debt was down to $81.5m, from $87.6m on 31 March.

“Reflecting the continued focus on recurring revenue streams from business critical processes and long term customer relationships, with both existing and new customers, we see real progress with the performance in the first half of this financial year, demonstrated by the growth in revenue, operating profits and profits before taxes,” said chairman Marc Vassanelli.

He said the company's healthy cash position, together with its cash generative business model, puts it in a strong position to invest in both organic and inorganic growth opportunities in the periods ahead.

“We expect current market trends to continue through the second half of the year with a continuing focus on underlying operating margins.

“We believe there is significant opportunity for us to continue to expand the business further using this approach.”