Totally plc Loses NHS 111 National Resilience Contract
Why we think this is neutral
The loss of the NHS 111 National Resilience contract, worth around £13 million annually, is not expected to have a material impact on Totally plc's financial performance in the current and next financial year. The company remains confident in delivering its FY25 forecast and expects FY26 performance to be similar to FY25, despite the contract not being renewed. While the contract loss is a negative, the company's overall business performance and outlook appears stable.
Key Points
- NHS 111 National Resilience support contract worth £13 million annually will not be renewed
- Company remains confident in delivering FY25 forecast of £85 million revenue and £3.5 million EBITDA
- FY26 performance expected to be similar to FY25 despite contract loss
Summary
Totally plc announced that its NHS 111 National Resilience support contract, worth around £13 million annually, will not be renewed by NHS England and will come to an end on 15 February 2025. However, the company states it was not reliant on the extension of this contract for its FY25 forecast and remains confident of delivering FY25 performance in line with expectations of £85 million revenue and £3.5 million EBITDA. The Board expects the financial performance of FY26 to be at a similar level to FY25, despite the contract loss, through redeployment of workforce and securing new contracts, although exceptional costs are expected.