Results for the year ended 31 March 2025
GB GROUP PLC
(“GBG”, the “Group” or the “Company”)
Results for the year ended 31 March 2025
Delivered strong profitability and cash generation; well-positioned to accelerate growth
June 10, 2025, LONDON: Today, GBG, a global identity technology business enabling safe and rewarding digital lives, announces its audited results for the financial year ended 31 March 2025. These results are in line with the trading update published on 24 April 2025.
Commenting, Dev Dhiman, CEO, said:
“In today's rapidly evolving digital world, where billions of online interactions happen every day, trust and security have never been more critical. It was an important year in GBG's evolution, aligning our global organisation behind a new purpose, enabling safe and rewarding digital lives for genuine people, everywhere. A mission that is fundamental to the future of commerce and human connection in an increasingly interconnected world.
The launch of GBG Go marks another milestone in our innovation journey to unify our identity capabilities onto a single global platform that will help a business to create a seamless customer experience which instantly verify identities and detect fraud. As digital identity becomes as important as physical identity, our platform will help build trust between businesses and their customers while protecting millions of people from fraud and financial crime.
The foundations we've built this year, from our enhanced technology to our strengthened performance culture, position us uniquely to shape the future of digital trust. With a clear strategic direction and strong financial position, I am confident that GBG will continue to lead the way in making the digital economy safer, more inclusive, and more rewarding for everyone.”
|
Financial KPIs (£m unless stated otherwise) |
FY25 |
FY24 |
Change |
|
Constant currency revenue1 |
282.7 |
274.5 |
3.0% |
|
Adjusted operating profit1 |
67.0 |
61.2 |
9.5% |
|
Adjusted operating margin |
23.7% |
22.1% |
160bps |
|
Adjusted diluted earnings per share2 |
17.4p |
15.1p |
14.9% |
|
Cash conversion1 |
91.3% |
90.6% |
70bps |
|
Statutory measures (£m unless stated otherwise) |
|
|
|
|
Revenue |
282.7 |
277.3 |
1.9% |
|
Operating profit / (loss)3 |
22.7 |
(41.4) |
|
|
Profit / (loss) before tax3 |
15.7 |
(50.4) |
|
|
Diluted profit / (loss) per share |
3.4p |
(19.2)p |
|
|
Net debt1 |
48.5 |
80.9 |
|
|
Final dividend per share |
4.40p |
4.20p |
4.8% |
1Defined within note 19 to the results. 2Defined within note 10 to the results.3FY24 included exceptional costs of £59.6million, of which, £54.7million relates to a non-cash goodwill impairment charge.
Financial summary
- Revenue of £282.7 million, up 3.0% on a constant currency basis (CCY); and 1.9% on a reported basis
‒ Revenue growth driven by Identity, up 3.1%, and Location, up 6.2% on a CCY basis
‒ Identity and Location net revenue retention (NRR) improved to 101.1% (FY24: 99.0%)
‒ Fraud was down 4.0% on a CCY basis given timing of licence renewals, although annual recurring revenue (ARR) was up 5.0% - Adjusted operating profit of £67.0 million, up 9.5%, as adjusted operating margin expanded by 160bps through our focus on simplification and efficiency
- Adjusted diluted EPS increased 14.9% to 17.4p, reflecting strong profitability and reduced net interest costs
- Strong cash conversion of 91.3% (FY24: 90.6%) resulting in a reduction of net debt to £48.5 million (31 March 2024: £80.9 million). This represents a net debt to EBITDA leverage of 0.70 times
- Recommended final dividend per ordinary share of 4.40p (FY24: 4.20p), up 4.8%. If approved, this would increase capital returns to over £21 million year to date in FY26, including completion of a £10 million share buyback
- GBG intends to commence the required workstreams to move from AIM to the Main Market
FY26 Financial outlook unchanged - The new financial year has begun as expected and our outlook for full year is consistent with current market expectations
Strategic and operational highlights
FY25 marked a year of transition. Under new leadership, the Group made strong operational progress and established a clear strategic direction, whilst strengthening the foundations for sustainable, profitable growth for the future.
The Group delivered progress in four focus areas set out for FY25; simplification, global alignment, innovation-led differentiation, and driving a performance culture, particularly in our Americas Identity business where we stabilised operations and transitioned leadership to position us for growth through FY26 and beyond.
Our FY26 strategic focus areas will include:
- Continued investment in GBG Go as we evolve towards a platform business
- Further operational improvements in our Americas Identity business to support our long-term ambitions
- Enhanced sales productivity through streamlined structures and processes
- Unlocking more customer value through more adoption of AI-driven capability and insights
- Embedding a new performance management framework, driving accountability through a differentiated reward structure
- Executing the required workstreams to move from AIM to the Main Market
_____________________________________________________________________________________
Results presentation info
Management will host an in-person presentation this morning at 09.30 am for sell-side analysts and institutional investors.
To view the event online, please follow this link: https://www.investis-live.com/gb-group/67fe76443d219d0015e577e8/grre
The event will be available to view on-demand via our investor website shortly after the event.
The full results statement and presentation is accessible via our investor website at the following link:https://www.gbgplc.com/en/investors/resources/reports-and-presentations/
______________________________________________________________________________________
- Investor News
- Press releases
