Sign In  |  Register  |  About San Rafael  |  Contact Us

San Rafael, CA
September 01, 2020 1:37pm
7-Day Forecast | Traffic
  • Search Hotels in San Rafael

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Endava Announces Third Quarter Fiscal Year 2024 Results

Q3 FY2024

14.3% Year on Year Revenue Decrease to £174.4 million

11.8% Revenue Decrease at Constant Currency

Diluted EPS £(0.03) compared to £0.42 in the prior year comparative period

Adjusted diluted EPS £0.22 compared to £0.59 in the prior year comparative period

Endava plc (NYSE: DAVA) ("Endava" or the "Company"), a leading technology services company combining world-class engineering, industry expertise and a people-centric mindset, today announced results for the three months ended March 31, 2024, the third quarter of its 2024 fiscal year ("Q3 FY2024").

"Our revenue of £174.4 million for Q3 FY2024 was within our guidance, representing a decrease of 11.8% in constant currency year over year. The overall demand environment remains challenging but stable and we are seeing signs of increasing discretionary spending. Client behaviour is stabilising but sales cycles remain elongated,” said John Cotterell, Endava's CEO.

THIRD QUARTER FISCAL YEAR 2024 FINANCIAL HIGHLIGHTS:

  • Revenue for Q3 FY2024 was £174.4 million, a decrease of 14.3% compared to £203.5 million in the same period in the prior year.
  • Revenue decrease at constant currency (a non-IFRS measure)* was 11.8% for Q3 FY2024, compared to growth of 14.6% in the same period in the prior year.
  • Loss before tax for Q3 FY2024 was £(0.5) million, compared to profit before tax of £30.4 million in the same period in the prior year.
  • Adjusted profit before tax (a non-IFRS measure)* for Q3 FY2024 was £15.5 million, or 8.9% of revenue, compared to £43.4 million, or 21.3% of revenue, in the same period in the prior year.
  • Loss for the period was £(1.7) million, resulting in a diluted earnings/(loss) per share ("EPS") of £(0.03), compared to profit of £24.4 million and diluted EPS of £0.42 in the same period in the prior year.
  • Adjusted profit for the period (a non-IFRS measure)* was £12.7 million, resulting in adjusted diluted EPS (a non-IFRS measure)* of £0.22, compared to adjusted profit for the period of £34.1 million and adjusted diluted EPS of £0.59 in the same period in the prior year.

CASH FLOW:

  • Net cash from operating activities was £3.0 million in Q3 FY2024, compared to £25.1 million in the same period in the prior year.
  • Adjusted free cash flow (a non-IFRS measure)* was £2.2 million in Q3 FY2024, compared to £21.2 million in the same period in the prior year.
  • At March 31, 2024, Endava had cash and cash equivalents of £190.0 million, compared to £164.7 million at June 30, 2023. In April 2024, Endava used £129.0 million of cash for the acquisition of GalaxE.

* Definitions of the non-IFRS measures used by the Company and a reconciliation of such measures to the related IFRS financial measure can be found under the sections below titled “Non-IFRS Financial Information” and “Reconciliation of IFRS Financial Measures to Non-IFRS Financial Measures.”

OTHER METRICS FOR THE QUARTER ENDED MARCH 31, 2024:

  • Headcount totaled 11,025 at March 31, 2024, with an average of 10,127 operational employees in Q3 FY2024, compared to a headcount of 11,742 at March 31, 2023 and an average of 10,818 operational employees in the same period in the prior year.
  • Number of clients with over £1 million in revenue on a rolling twelve-month basis was 142 at March 31, 2024, compared to 155 clients at March 31, 2023.
  • Top 10 clients accounted for 34% of revenue in Q3 FY2024, compared to 33% in the same period in the prior year.
  • By geographic region, 30% of revenue was generated in North America, 28% was generated in Europe, 35% was generated in the United Kingdom and 7% was generated in the rest of the world in Q3 FY2024. This compares to 32% in North America, 24% in Europe, 38% in the United Kingdom and 6% in the Rest of the World in the same period in the prior year.
  • By industry vertical, 24% of revenue was generated from Payments, 14% from Banking and Capital Markets (BCM), 9% from Insurance, 24% from Technology, Media and Telecommunications (TMT), 10% from Mobility, and 19% from Other in Q3 FY2024. This compares to 29% from Payments, 16% from BCM, 8% from Insurance, 21% from TMT, 11% from Mobility, and 15% from Other in the same period in the prior year.

OUTLOOK:

Fourth Quarter Fiscal Year 2024:

Endava expects revenue will be in the range of £195.0 million to £197.0 million, representing a constant currency revenue growth of between 3.5% and 4.5% on a year over year basis. Endava expects adjusted diluted EPS to be in the range of £0.22 to £0.23 per share.

Full Fiscal Year 2024:

Endava expects revenue will be in the range of £741.0 million to £743.0 million, representing a constant currency revenue decrease of between 4.5% and 4.0% on a year over year basis. Endava expects adjusted diluted EPS to be in the range of £1.13 to £1.14 per share.

This above guidance for the fourth quarter and full fiscal year 2024 assumes the exchange rates on April 30, 2024 (when the exchange rate was 1 British Pound to 1.25 US Dollar and 1.17 Euro).

Endava is not able, at this time, to reconcile its expectations for the fourth quarter and full fiscal year 2024 for a rate of revenue decrease at constant currency or adjusted diluted EPS to their respective most directly comparable IFRS measures as a result of the uncertainty regarding, and the potential variability of, reconciling items such as share-based compensation expense, amortisation of acquired intangible assets, foreign currency exchange (gains)/losses, restructuring costs and fair value movement of contingent consideration, as applicable. Accordingly, a reconciliation is not available without unreasonable effort, although it is important to note that these factors could be material to Endava's results computed in accordance with IFRS.

The guidance provided above is forward-looking in nature. Actual results may differ materially. See “Forward-Looking Statements” below.

CONFERENCE CALL DETAILS:

The Company will host a conference call at 8:00 am ET today, May 23, 2024, to review its Q3 FY2024 results. To participate in Endava’s Q3 FY2024 earnings conference call, please dial in at least five minutes prior to the scheduled start time (844) 481-2736 or (412) 317-0665 for international participants, Conference ID: Endava Call.

Investors may listen to the call on Endava’s Investor Relations website at http://investors.Endava.com. The webcast will be recorded and available for replay until Friday, June 28, 2024.

ABOUT ENDAVA PLC:

Technology is our how. And people are our why. By combining world-class engineering, industry expertise and a people-centric mindset, we consult and partner with our customers to create technological solutions that drive innovation and transform businesses. From ideation to production, we support our customers with tailor-made solutions across various industries and all around the world.

Endava services clients in Payments, Banking and Capital Markets, Insurance, TMT, Consumer Products, Retail, Mobility and Healthcare. As of March 31, 2024, 11,025 Endavans provided services from our locations in European Union countries (Austria, Bulgaria, Croatia, Denmark, Germany, Ireland, the Netherlands, Poland, Romania, Slovenia and Sweden), non-European Union countries (Bosnia & Herzegovina, Moldova, North Macedonia, Serbia, Switzerland and the United Kingdom), Latin America (Argentina, Colombia, Mexico and Uruguay), Asia-Pacific (Australia, Malaysia, Singapore and Vietnam), North America (Canada and the United States), and the Middle East (United Arab Emirates).

NON-IFRS FINANCIAL INFORMATION:

To supplement Endava’s Condensed Consolidated Statements of Comprehensive Income, Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows presented in accordance with IFRS, the Company uses non-IFRS measures of certain components of financial performance in this press release. These measures include revenue (decrease)/growth rate at constant currency, adjusted profit before tax, adjusted profit for the period, adjusted diluted EPS and adjusted free cash flow.

Revenue (decrease)/growth rate at constant currency is calculated by translating revenue from entities reporting in foreign currencies into British Pounds using the comparable foreign currency exchange rates from the prior period. For example, the average currency rates in effect for the fiscal quarter ended March 31, 2023 were used to convert revenue for the fiscal quarter ended March 31, 2024 and the revenue for the comparable prior period.

Adjusted profit before tax ("Adjusted PBT") is defined as the Company’s profit/(loss) before tax adjusted to exclude the impact of share-based compensation expense, amortisation of acquired intangible assets, realised and unrealised foreign currency exchange (gains)/losses, restructuring costs and fair value movement of contingent consideration, all of which are non-cash items except for the restructuring costs and realised foreign currency exchange (gains)/ losses.

Adjusted profit for the period is defined as Adjusted PBT less the tax charge for the period adjusted for the tax impact of the adjustments to PBT.

Adjusted diluted EPS is defined as Adjusted profit for the period, divided by weighted average number of shares outstanding - diluted.

Adjusted free cash flow is the Company’s net cash from operating activities, plus grants received, less net purchases of non-current assets (tangible and intangible).

Management believes these measures help illustrate underlying trends in the Company's business and uses the measures to establish budgets and operational goals, communicated internally and externally, for managing the Company's business and evaluating its performance. Management also believes the presentation of its non-IFRS financial measures enhances an investor’s overall understanding of the Company’s historical financial performance. The presentation of the Company’s non-IFRS financial measures is not meant to be considered in isolation or as a substitute for the Company’s financial results prepared in accordance with IFRS, and its non-IFRS measures may be different from non-IFRS measures used by other companies. Investors should review the reconciliation of the Company’s non-IFRS financial measures to the comparable IFRS financial measures included below, and not rely on any single financial measure to evaluate the Company’s business.

FORWARD-LOOKING STATEMENTS:

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by the use of terms and phrases such as “believe,” “expect,” "outlook," “may,” “will,” and other similar terms and phrases. Such forward-looking statements include, but are not limited to, the statements regarding the overall demand environment and client behavior; and management's financial outlook for the fourth quarter and full fiscal year 2024. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including, but not limited to: Endava’s business, results of operations and financial condition may be negatively impacted by the Russia-Ukraine military conflict and related sanctions, conflict in the Middle East or if general economic conditions in Europe, the United States or the global economy worsen, including increased inflation and potential future bank failures; the perceived impact and effect of macroeconomic conditions on Endava and its customers; Endava’s ability to retain existing clients and attract new clients, including its ability to increase revenue from existing clients and diversify its revenue concentration; Endava’s ability to attract and retain highly-skilled IT professionals at cost-effective rates; Endava's ability to penetrate new industry verticals and geographies and grow its revenue in current industry verticals and geographies; Endava’s ability to maintain favorable pricing and utilization rates; Endava’s ability to successfully identify acquisition targets, consummate acquisitions and successfully integrate acquired businesses and personnel; the effects of increased competition as well as innovations by new and existing competitors in its market; Endava’s ability to adapt to technological change and innovate solutions for its clients; Endava’s ability to collect on billed and unbilled receivables from clients; Endava’s ability to effectively manage its international operations, including Endava's exposure to foreign currency exchange rate fluctuations; Endava’s ability to maintain an effective system of disclosure controls and internal control over financial reporting; and Endava’s future financial performance, including trends in revenue, cost of sales, gross profit, selling, general and administrative expenses, finance income and expense and taxes, as well as other risks and uncertainties discussed in the “Risk Factors” section of Endava's Annual Report on Form 20-F for the year ended June 30, 2023 filed with the SEC on September 19, 2023 and in other filings that Endava makes from time to time with the SEC. In addition, the forward-looking statements included in this press release represent Endava’s views and expectations as of the date hereof and are based on information currently available to Endava. Endava anticipates that subsequent events and developments may cause its views to change. Endava specifically disclaims any obligation to update the forward-looking statements in this press release except as required by law. These forward-looking statements should not be relied upon as representing Endava’s views as of any date subsequent to the date hereof.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

 

 

Nine Months Ended

March 31

Three Months Ended

March 31

 

2024

2023(1)

2024

2023(1)

 

£’000

£’000

£’000

£’000

REVENUE

546,338

 

604,942

 

174,365

 

203,532

 

Cost of sales

 

 

 

 

Direct cost of sales

(389,864

)

(381,711

)

(130,452

)

(132,458

)

Allocated cost of sales

(19,938

)

(18,676

)

(6,720

)

(6,433

)

Total cost of sales

(409,802

)

(400,387

)

(137,172

)

(138,891

)

GROSS PROFIT

136,536

 

204,555

 

37,193

 

64,641

 

Selling, general and administrative expenses

(117,643

)

(114,423

)

(39,025

)

(34,537

)

OPERATING PROFIT / (LOSS)

18,893

 

90,132

 

(1,832

)

30,104

 

Net finance income / (expense)

8,496

 

(905

)

1,303

 

284

 

PROFIT / (LOSS) BEFORE TAX

27,389

 

89,227

 

(529

)

30,388

 

Tax on profit on ordinary activities

(8,413

)

(18,122

)

(1,208

)

(6,030

)

PROFIT / (LOSS) FOR THE PERIOD

18,976

 

71,105

 

(1,737

)

24,358

 

OTHER COMPREHENSIVE INCOME

 

 

 

 

Items that may be reclassified subsequently to profit or loss:

 

 

 

 

Exchange differences on translating foreign operations

(1,061

)

(3,001

)

(2,930

)

(3,824

)

TOTAL COMPREHENSIVE INCOME / (LOSS) FOR THE PERIOD ATTRIBUTABLE TO OWNERS OF THE PARENT

17,915

 

68,104

 

(4,667

)

20,534

 

 

 

 

 

 

EARNINGS PER SHARE (EPS):

 

 

 

 

Weighted average number of shares outstanding - Basic

58,213,743

 

57,176,428

 

58,439,085

 

57,603,730

 

Weighted average number of shares outstanding - Diluted

58,657,357

 

58,070,352

 

58,799,599

 

58,210,601

 

Basic EPS (£)

0.33

 

1.24

 

(0.03

)

0.42

 

Diluted EPS (£)

0.32

 

1.22

 

(0.03

)

0.42

 

CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

March 31, 2024

June 30, 2023

March 31, 2023

 

£’000

£’000

£’000

ASSETS - NON-CURRENT

 

 

 

Goodwill

264,289

 

240,818

 

186,946

 

Intangible assets

57,179

 

66,216

 

50,924

 

Property, plant and equipment

22,204

 

25,940

 

26,459

 

Lease right-of-use assets

52,645

 

65,084

 

58,727

 

Deferred tax assets

19,924

 

20,156

 

13,515

 

Financial assets and other receivables

7,380

 

5,242

 

1,992

 

TOTAL

423,621

 

423,456

 

338,563

 

ASSETS - CURRENT

 

 

 

Trade and other receivables

175,671

 

177,866

 

183,533

 

Corporation tax receivable

2,960

 

4,042

 

678

 

Financial assets

185

 

56

 

136

 

Cash and cash equivalents

190,021

 

164,703

 

199,200

 

TOTAL

368,837

 

346,667

 

383,547

 

TOTAL ASSETS

792,458

 

770,123

 

722,110

 

LIABILITIES - CURRENT

 

 

 

Lease liabilities

14,300

 

14,573

 

13,859

 

Trade and other payables

82,262

 

91,159

 

92,649

 

Corporation tax payable

3,062

 

5,940

 

5,569

 

Contingent consideration

4,619

 

7,650

 

3,511

 

Deferred consideration

3,205

 

1,267

 

6,538

 

TOTAL

107,448

 

120,589

 

122,126

 

LIABILITIES - NON CURRENT

 

 

 

Lease liabilities

42,961

 

54,441

 

50,193

 

Deferred tax liabilities

13,297

 

14,623

 

10,152

 

Contingent consideration

 

3,809

 

 

Deferred consideration

3,411

 

4,837

 

1,363

 

Other liabilities

548

 

516

 

525

 

TOTAL

60,217

 

78,226

 

62,233

 

EQUITY

 

 

 

Share capital

1,169

 

1,155

 

1,153

 

Share premium

21,208

 

14,625

 

13,546

 

Merger relief reserve

49,643

 

42,805

 

39,976

 

Retained earnings

570,878

 

522,926

 

491,739

 

Other reserves

(18,079

)

(10,176

)

(8,515

)

Investment in own shares

(26

)

(27

)

(148

)

TOTAL

624,793

 

571,308

 

537,751

 

TOTAL LIABILITIES AND EQUITY

792,458

 

770,123

 

722,110

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 

 

Nine Months Ended

March 31

Three Months Ended

March 31

 

2024

2023

2024

2023

 

£’000

£’000

£’000

£’000

OPERATING ACTIVITIES

 

 

 

 

Profit / (Loss) for the period

18,976

 

71,105

 

(1,737

)

24,358

 

Income tax charge

8,413

 

18,122

 

1,208

 

6,030

 

Non-cash adjustments

43,760

 

40,216

 

11,927

 

15,242

 

Tax paid

(7,707

)

(16,189

)

(2,893

)

(6,142

)

Net changes in working capital

(8,811

)

(22,063

)

(5,497

)

(14,428

)

Net cash from operating activities

54,631

 

91,191

 

3,008

 

25,060

 

 

 

 

 

 

INVESTING ACTIVITIES

 

 

 

 

Purchase of non-current assets (tangibles and intangibles)

(3,696

)

(11,804

)

(1,496

)

(4,213

)

Proceeds from disposal of non-current assets

36

 

148

 

63

 

132

 

Payment for acquisition of subsidiary, net of cash acquired

(19,223

)

(35,773

)

(12,513

)

(3,376

)

Other acquisition-related settlements

(6,680

)

 

 

 

Interest received

5,599

 

1,851

 

2,077

 

1,054

 

Net cash used in investing activities

(23,964

)

(45,578

)

(11,869

)

(6,403

)

 

 

 

 

 

FINANCING ACTIVITIES

 

 

 

 

Proceeds from sublease

129

 

325

 

42

 

88

 

Repayment of lease liabilities

(10,793

)

(9,960

)

(3,373

)

(3,469

)

Interest and debt financing costs paid

(1,611

)

(3,532

)

(1,028

)

(3,109

)

Grant received

822

 

472

 

592

 

252

 

Proceeds from exercise of options

6,586

 

4,398

 

3,457

 

2,132

 

Net cash used in financing activities

(4,867

)

(8,297

)

(310

)

(4,106

)

Net change in cash and cash equivalents

25,800

 

37,316

 

(9,171

)

14,551

 

 

 

 

 

 

Cash and cash equivalents at the beginning of the period

164,703

 

162,806

 

198,602

 

185,323

 

Exchange differences on cash and cash equivalents

(482

)

(922

)

590

 

(674

)

Cash and cash equivalents at the end of the period

190,021

 

199,200

 

190,021

 

199,200

 

RECONCILIATION OF IFRS FINANCIAL MEASURES TO NON-IFRS FINANCIAL MEASURES

RECONCILIATION OF REVENUE (DECREASE)/GROWTH RATE AS REPORTED UNDER IFRS TO REVENUE GROWTH RATE AT CONSTANT CURRENCY:

 

 

Nine Months Ended

March 31

Three Months Ended

March 31

 

2024

2023

2024

2023

REVENUE (DECREASE) / GROWTH RATE AS REPORTED UNDER IFRS

(9.7

)%

27.5

%

(14.3

)%

20.3

%

Foreign exchange rates impact

2.7

%

(6.5

)%

2.5

%

(5.7

)%

REVENUE (DECREASE) / GROWTH RATE AT CONSTANT CURRENCY

(7.0

)%

21.0

%

(11.8

)%

14.6

%

RECONCILIATION OF ADJUSTED PROFIT BEFORE TAX AND ADJUSTED PROFIT FOR THE PERIOD:

 

 

Nine Months Ended

March 31

Three Months Ended

March 31

 

2024

2023

2024

2023

 

£’000

£’000

£’000

£’000

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX

27,389

 

89,227

 

(529

)

30,388

 

Adjustments:

 

 

 

 

Share-based compensation expense

29,740

 

24,135

 

6,184

 

8,226

 

Amortisation of acquired intangible assets

9,930

 

9,427

 

2,845

 

3,220

 

Foreign currency exchange (gains) / losses, net

2,864

 

10,030

 

179

 

2,497

 

Restructuring costs

7,259

 

3,683

 

7,259

 

2,570

 

Fair value movement of contingent consideration

(9,148

)

(10,650

)

(442

)

(3,507

)

Total adjustments

40,645

 

36,625

 

16,025

 

13,006

 

ADJUSTED PROFIT BEFORE TAX

68,034

 

125,852

 

15,496

 

43,394

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX

18,976

 

71,105

 

(1,737

)

24,358

 

Adjustments:

 

 

 

 

Adjustments to profit before tax

40,645

 

36,625

 

16,025

 

13,006

 

Tax impact of adjustments

(6,503

)

(8,299

)

(1,587

)

(3,247

)

ADJUSTED PROFIT FOR THE PERIOD

53,118

 

99,431

 

12,701

 

34,117

 

 

 

 

 

 

RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE:

 

 

Nine Months Ended

March 31

Three Months Ended

March 31

 

2024

2023

2024

2023

 

£’000

£’000

£’000

£’000

 

 

 

 

 

DILUTED EARNINGS PER SHARE (£)

0.32

 

1.22

 

(0.03

)

0.42

 

Adjustments:

 

 

 

 

Share-based compensation expense

0.51

 

0.42

 

0.11

 

0.14

 

Amortisation of acquired intangible assets

0.17

 

0.16

 

0.05

 

0.06

 

Foreign currency exchange (gains) / losses, net

0.05

 

0.17

 

 

0.04

 

Restructuring costs

0.12

 

0.06

 

0.12

 

0.04

 

Fair value movement of contingent consideration

(0.15

)

(0.18

)

 

(0.05

)

Tax impact of adjustments

(0.11

)

(0.14

)

(0.03

)

(0.06

)

Total adjustments

0.59

 

0.49

 

0.25

 

0.17

 

ADJUSTED DILUTED EARNINGS PER SHARE (£)

0.91

 

1.71

 

0.22

 

0.59

 

RECONCILIATION OF NET CASH FROM OPERATING ACTIVITIES TO ADJUSTED FREE CASH FLOW

 

 

Nine Months Ended

March 31

Three Months Ended

March 31

 

2024

2023

2024

2023

 

£’000

£’000

£’000

£’000

 

 

 

 

 

Net cash from operating activities

54,631

 

91,191

 

3,008

 

25,060

 

Adjustments:

 

 

 

 

Grant received

822

 

472

 

592

 

252

 

Net purchase of non-current assets (tangible and intangible)

(3,660

)

(11,656

)

(1,433

)

(4,081

)

Adjusted Free cash flow

51,793

 

80,007

 

2,167

 

21,231

 

SUPPLEMENTARY INFORMATION

SHARE-BASED COMPENSATION EXPENSE

 

 

Nine Months Ended

March 31

Three Months Ended

March 31

 

2024

2023

2024

2023

 

£’000

£’000

£’000

£’000

 

 

 

 

 

Direct cost of sales

21,432

15,996

5,114

5,699

Selling, general and administrative expenses

8,308

8,139

1,070

2,527

Total

29,740

24,135

6,184

8,226

DEPRECIATION AND AMORTISATION

 

 

Nine Months Ended

March 31

Three Months Ended

March 31

 

2024

2023

2024

2023

 

£’000

£’000

£’000

£’000

 

 

 

 

 

Direct cost of sales

14,898

13,242

4,849

4,616

Selling, general and administrative expenses

12,410

11,406

3,698

3,945

Total

27,308

24,648

8,547

8,561

EMPLOYEES, TOP 10 CUSTOMERS AND REVENUE SPLIT

 

 

Nine Months Ended

March 31

Three Months Ended

March 31

 

2024

2023

2024

2023

 

 

 

 

 

Closing number of total employees (including directors)

11,025

 

11,742

 

11,025

 

11,742

 

Average operational employees

10,446

 

10,960

 

10,127

 

10,818

 

 

 

 

 

 

Top 10 customers %

34

%

33

%

34

%

33

%

Number of clients with > £1m of revenue

(rolling 12 months)

142

 

155

 

142

 

155

 

 

 

 

 

 

Geographic split of revenue %

 

 

 

 

North America

31

%

33

%

30

%

32

%

Europe

26

%

23

%

28

%

24

%

UK

34

%

39

%

35

%

38

%

Rest of World (RoW)

9

%

5

%

7

%

6

%

Industry vertical split of revenue %

 

 

 

 

Payments

26

%

29

%

24

%

29

%

Banking and Capital Markets

14

%

16

%

14

%

16

%

Insurance

9

%

7

%

9

%

8

%

TMT

23

%

22

%

24

%

21

%

Mobility

10

%

10

%

10

%

11

%

Other

18

%

16

%

19

%

15

%

FOOTNOTES

(1) The presentation of the income statement has been changed to no longer separately disclose the net impairment gains/(losses) on financial assets on the face of the Condensed Consolidated Statements of Comprehensive Income, but include them within Selling, general and administrative expenses.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 SanRafael.com & California Media Partners, LLC. All rights reserved.