SDL plc Half Year Results for the Six Months Ended 30 June 2019
06 Agosto 2019 - 8:15AM
Business Wire
Successful strategic and financial
execution
SDL plc (“SDL” or the “Group”), the global innovator in language
translation technology, services and content management, today
announces its half year results for the six months ended 30 June
2019.
Financial Highlights
Unaudited Results
1H19
1H184
Change
Six months to 30 June
£m
£m
Revenue
182.5
143.1
+28%
Proforma1
+6%
Operating profit
11.9
7.8
+53%
Adjusted operating profit2
16.1
12.0
+34%
Profit before tax
10.9
7.8
+40%
Basic earnings per share
8.9p
6.8p
+31%
Diluted earnings per share
8.7p
6.7p
+30%
Adjusted diluted earnings per
share3
12.3p
10.8p
+14%
1 Proforma is used for illustrative purposes based on unaudited
management accounts of the pre-acquisition period of DLS 2 Adjusted
operating profit: Operating profit before acquisition related
amortisation and exceptional items (as reconciled on the income
statement to the half year results) 3 Adjusted earnings: Profit
after tax before the impact of exceptional items and acquisition
related amortisation (as reconciled in note 5 of the half year
results) 4 1H18 results have not been restated for the impact of
IFRS 16 – Leases (see note 1 of the half year results)
- Revenue benefited from Pound Sterling to US Dollar exchange
rate
- Before IFRS 16 adjustments, adjusted operating profit was
£15.5m
- Group gross margin of 51.5% (1H18: 52.9%), reflecting increased
contribution to total revenue from Language Services
- Net cash5 at 30 June 2019 was £1.1m (31 December 2018: £14.4m).
At 31 July 2019, the Group’s net cash balance was £11.0m
Operational Highlights
- The acquisition of Donnelley
Language Solutions (“DLS”) (acquired in July 2018) has performed
very well, accelerating SDL’s strategy and receiving positive
feedback from customers and employees
- Positive momentum from sales
and marketing strategy, delivering growth in premium regulated
services, strategic accounts, machine translation and new customer
wins
- Strong growth in premium services6 revenues to £52.0m (1H18:
£18.6m), accounting for 40% of Language Services revenues (1H18:
20%)
- Improved productivity in Language Services resulting in higher
gross margin at 42.1% (1H18: 41.8%), including presently lower
margin DLS
- Further progress with the Language Services automation
programme, with 80% of addressable clients on Helix in June 2019.
Linguistic Utilisation7 increased to 57.6% for the first half
(1H18: 54.3%)
- Actions on corporate overheads and synergies on track to
deliver £8m of annualised savings by year end
- Investment into market-leading innovations, including the
industry’s first end-to-end, AI-enabled translation platform, SDL
Language Cloud, which will be launched in September
5 Net cash: Net cash comprises cash and cash equivalents and
external borrowings 6 Premium Services revenue: Comprises Regulated
Language Services (Finance, Legal, Life Sciences) plus Marketing
Solutions 7 Linguistic Utilisation: The percentage of time in-house
linguists spent on billable work across the financial period
Adolfo Hernandez, CEO of SDL plc, said:
“We are pleased to have delivered a good start to the year,
which resulted in a 14% increase in adjusted diluted EPS over the
prior year, benefiting from the acquisition of DLS and strong
growth in key areas such as premium services and machine
translation. During the first half, we continued to deliver on our
transformation strategy, including the roll out of our automation
programme, Helix, and completed the development of our next
generation end-to-end translation platform, SDL Language Cloud,
ahead of its launch in September. We enter the traditionally
stronger second half with good sales momentum and a healthy sales
pipeline. This, alongside the actions that we are taking on
productivity, gives us confidence of delivering improved
profitability for the full year, in line with management
expectations.”
To see the full press release, please visit the investor
relations section of our website.
About SDL
SDL (LSE: SDL) is the global leader in content creation,
translation and delivery. For over 27 years we've helped companies
communicate with confidence and deliver transformative business
results by enabling powerful experiences that engage customers
across multiple touchpoints worldwide. Are you in the know? Find
out why 90 of the top 100 global companies work with and trust us
on SDL.com. Follow us on Twitter, LinkedIn and Facebook.
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Enquiries
SDL plc 01628 410100 Adolfo Hernandez, CEO Xenia
Walters, CFO
Luther Pendragon 0207 618 9100 Harry Chathli,
Claire Norbury, Alexis Gore
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