The week ahead
A number of companies report final results this week for periods ending October and November.
Ocado Group PLC (LON:OCDO), which provides an online grocery platform and solutions, announces final results on Tuesday. In a trading update in early December, it said it now expects full year EBITDA to be over GBP70m. It also completed two robotics acquisitions later in December – Kindred Systems, which designs, supplies and services sophisticated piece-picking robots for e-commerce and order fulfilment, and Haddington Dynamics, which designs and manufactures low-cost, lightweight, highly dexterous, robotic arms.
Micro Focus International plc (LON:MCRO), the enterprise software group which was a FTSE 100 constituent up to September 2019, reports final results on Tuesday. In its trading update in mid-November, it said that it expects to report FY20 revenue of approximately $3.0bn, which was in line with management expectations, and represents a decline of approximately 10% on a constant currency basis. The adjusted EBITDA margin is expected to be approximately 39% which was towards the upper end of management expectations, reflecting operational improvements and cost initiatives. Period-end net debt is expected to be $4.2bn, or GBP3.1bn, which implies an FY20 EV/sales multiple of just under 2.2x and an EV/Ebitda multiple of 5.5x.
RM Plc LON:RM), which supplies technology and resources to the education sector, reports final results on Tuesday.In its trading update in early December it said it expects full-year results to be ahead of prior expectations as improved trading in Q3 continued during Q4 due to UK education establishments remaining open during regional and national lockdowns. Whilst COVID-19 impacted some new business development, RM won new contracts to deliver end-to-end digital assessments and school cloud solutions. The year-end net debt position is expected to be below GBP5mln (2019: GBP15mln).
Amino Technologies PLC (LON:AMO), the software-led media tech company, reports final results on Wednesday. The group has been transitioning from its legacy hardware background to a software-based approach that enables traditional TV and contemporary streaming services to be watched on any device, live or on-demand. In its year-end trading update in early December, it said it expected to report an approximate 8% growth in total revenue to approximately $83mln for the year, with adjusted operating profit slightly ahead of the prior year. Software revenue is expected to have grown by about 50% to around $20mln while the exit run-rate annual recurring revenue was approximately $11mln, up from $9.5mln at 30 November 201. The group closed the period with net cash of $9.4mln and no debt.
Other US tech-related companies reporting this week include Blackbaud, Nuance Communications, Akamai Technologies, Avaya Holdings, NCR Corp, Corsair Gaming, Fiserv, Glu Mobile, Gartner, LYFT, Yelp, SS&C Technologies, iRobot, Equinix, Qualys, Tyler Technologies, Zynga, TechTarget, Trimble, Sonos, Paycom Software, Radware, Cyberark Software, Zebra Technologies, Cloudflare, Cognex Corp, Datadog, Digital Realty Trust, Forrester Research, GoDaddy, HubSpot, Veeco Instruments and Verisign.