Elixirr International Reports Strong FY24 Results with 30% Revenue Growth
Why we think this is good
The FY24 results for Elixirr International are predominantly positive, showcasing robust growth and financial health. Revenue surged by 30% to £111.3 million, with organic growth of 13%. Profitability metrics are strong, with adjusted profit before tax increasing by 22% to £29.7 million. The company's cash generation is impressive, with free cash flow up 74% to £28.1 million. While there's a slight dip in EBITDA margin and basic EPS, these are offset by strong operational performance and positive outlook. The company's diversification strategy and expansion in the US market are paying off, now accounting for 55% of revenue. With a record Q1 2025 and expectations of a record April, Elixirr is entering FY25 with strong momentum. The planned move to the Main Market of the London Stock Exchange further underscores the company's growth trajectory and ambitions.
Key Points
- Revenue up 30% to £111.3 million, with 13% organic growth
- Adjusted profit before tax increased 22% to £29.7 million
- Free cash flow up 74% to £28.1 million
- US market now accounts for 55% of revenue
- Adjusted EBITDA margin slightly down at 28.0%, within guidance range
- Record Q1 2025 and expected record April 2025
- Planned move to Main Market of London Stock Exchange
- Final dividend of 11.5p per share proposed, bringing total FY24 dividend to 17.8p (20% increase)
Summary
Elixirr International has delivered a strong set of results for FY24, demonstrating robust growth and financial stability. Revenue increased by 30% to £111.3 million, with organic growth of 13%. Adjusted profit before tax grew by 22% to £29.7 million, while adjusted EPS rose by 16% to 47.44p. The company's cash generation was particularly impressive, with free cash flow up 74% to £28.1 million. Elixirr's expansion strategy, especially in the US market which now accounts for 55% of revenue, is proving successful. The slight decrease in EBITDA margin from 29.6% to 28.0% is within guidance and offset by overall strong performance. Looking ahead, the company reports strong momentum with a record Q1 2025 and expectations of a record April. The planned move to the Main Market of the London Stock Exchange underscores Elixirr's growth ambitions and could potentially improve access to capital and visibility among investors.