Learning Technologies Group PLC Full Year Trading Update and Notice of Results (5171M)
22 Gennaio 2021 - 08:00AM
UK Regulatory
TIDMLTG
RNS Number : 5171M
Learning Technologies Group PLC
22 January 2021
22 January 2021
Learning Technologies Group plc
("LTG", the "Group")
(AIM: LTG)
Full Year Trading Update and Notice of Results
Revenue, Adjusted EBIT and cash ahead of consensus
Learning Technologies Group plc, the leading provider of
services and technologies for digital learning and talent
management, is pleased to announce a trading update for the year
ending 31 December 2020.
The Board expects Group revenues to be not less than GBP131.0
million (2019: GBP130.1 million). Recurring revenues increased to
c.80% (2019: 74%), driven by the ongoing performance in the
Software & Platforms division and the expansion of LTG's
business in open-source learning management systems through the
acquisitions of Open LMS, eCreators and eThink Education.
As expected, Content & Services saw a revenue decline due to
the impact of COVID-19. However, sales momentum has increased
throughout the second half of the year giving the Board confidence
that Content & Services revenue will recover to pre-pandemic
levels.
Adjusted EBIT is expected to be ahead of consensus(1) and not
less than GBP40.0 million (2019: GBP41.0 million), demonstrating
the resilience of the Company amid wider market disruption and its
ability to adapt its operating model in the face of significant
changes in demand across the business.
The Group's net cash position at 31 December 2020 of GBP70.2
million was significantly ahead of consensus of GBP59.6 million,
driven by strong operating cash conversion and additional net cash
balances of GBP1.6 million from the acquisitions of eCreators and
eThink.
This robust capital position will enable the Group to continue
its track record of acquisitions that add to LTG's capabilities in
the market - including the recently announced acquisition of
Reflektive, which will complete on 29 January 2021. LTG is actively
pursuing a near term pipeline of attractive opportunities to
deliver further organic and inorganic growth across both Software
& Platforms and Content & Services, helping to achieve our
strategic goal of run-rate revenues of GBP230 million and run-rate
Adjusted EBIT of GBP66 million by the end of 2022.
Further details will be provided with LTG's full year results
which are expected to be announced on 25 March 2021 .
Jonathan Satchell, CEO of LTG, said:
"LTG ended 2020 on a high, with strong momentum across our
divisions continuing into the new year from mid-market customers
and large enterprises. The Group is well placed as businesses
continue to look for best-of-breed technologies and services to
develop their talent and enhance their workplace learning.
Amid the disruption of the past year, 2020 also saw an
acceleration of structural trends towards digital learning and
talent management. This underpins the Board's confidence in the
Group's near-term and long-term prospects and, further to the
growth we expect to deliver in the year ahead, we will continue our
disciplined approach to acquisitions that bring additional benefits
to our stakeholders."
Notes
1. Company-compiled, publicly available consensus can be found
at
https://www.ltgplc.com/investor-information/analyst-consensus/
Consensus for FY20: Revenue of GBP129.0m, Adjusted EBIT of
GBP38.3m and Net Cash of GBP59.6m.
ENDS
Enquiries:
Learning Technologies Group plc
Jonathan Satchell, Chief Executive +44 (0)20 7402
Neil Elton, Chief Financial Officer 1554
Numis Securities Limited (NOMAD and Corporate
Broker) +44 (0)20 7260
Stuart Skinner, Nick Westlake, Ben Stoop 1000
Goldman Sachs International (Joint Corporate
Broker) +44 (0)20 7774
Bertie Whitehead, Adam Laikin 1000
FTI Consulting (Public Relations Adviser) +44 (0)20 3727
Rob Mindell, Jamie Ricketts, Chris Birt 1000
About LTG
LTG is a leader in the growing workplace digital learning and
talent management market. The Group offers end-to-end learning and
talent solutions ranging from strategic consultancy, through a
range of content and platform solutions to analytical insights that
enable corporate and government clients to close the gap between
current and future workforce capability.
LTG is listed on the London Stock Exchange's Alternative
Investment Market (LTG.L) and headquartered in London. The Group
has offices in Europe, North America and Asia-Pacific.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTMZGZMVMDGMZM
(END) Dow Jones Newswires
January 22, 2021 02:00 ET (07:00 GMT)
Grafico Azioni Learning Technologies (LSE:LTG)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Learning Technologies (LSE:LTG)
Storico
Da Mar 2023 a Mar 2024