Annual Report 2019
Sydney, Sep 10, 2019 AEST (ABN Newswire) - It has been another record year of growth for the MNF Group Ltd (
ASX:MNF) (M2S:FRA), with our total numbers on the network growing 18% to 3.8 million phone numbers. We attribute this increase to consumers and businesses moving their voice communications requirements into the cloud. Additionally, many of our established customers are themselves experiencing booming growth which is in turn compounding ours. We expect this trend to continue well into the future based on analyst predictions for the UCaaS, CPaaS and CCaaS markets in Australia and globally.
Strong bottom line growth
This year saw MNF reach new record levels of profitability with EBITDA reaching $27.2m up 11% on prior year (FY18: $24.5m). The year also saw several once-off expenses to do with the large and complex acquisition of Telcoinabox, however underlying NPAT-A grew to $15.9m up 13% on prior year comparable figures (FY18: $14.1m). This led to an underlying EPS-A rise of 12% to 21.7 cents per share (FY18: 19 cps). Cash conversion in H2 was 77% of EBITDA leading the company to finish with $15.5m cash in bank at June 30.
Reaffirmation of FY20 EBITDA guidance
With the acquisition in Telcoinabox behind us and the integration well progressed, this has allowed the company to re-affirm its prior FY20 EBITDA guidance of $33.0m to $36.0m, a forecast growth of 27% at the guidance mid-point.
Strong business performance indicators
Our recurring revenue streams grew 89% to $74m (FY18: $40m), which makes up 34% of our overall revenue mix. These recurring revenue streams are long term, sticky and high margin.
Similarly, our gross margin grew 20% to $82.5m (FY18: $69.0m), with recurring margin streams growing 60% to $49m (FY18: $31m). Our average gross margin generation is now sitting at 38% of revenue, up from 31% from the prior year.
Given recurring margins are generated from very sticky products, this leads to long term stability of gross margin generation and a monotonically increasing margin profile.
To view the full Annual Report, please visit:
https://abnnewswire.net/lnk/8AK010S9
About Symbio Holdings Limited
Symbio Holdings Limited (ASX:SYM) is a software company changing the way the world communicates.
Symbio's technology replaces old-fashioned telecom networks with software, making it faster and easier to deliver modern cloud-based communication services, unlocking endless new applications for calling, messaging and phone numbers.
Symbio is the backbone for the global cloud communication industry. Over 500 service providers - from telecom start-ups to the world's biggest software companies - rely on Symbio for the connectivity, quality and expertise they need to solve complex communication challenges.
Headquartered in Sydney, Symbio powers billions of calls and messages each year, owns networks in three countries and employs over 450 staff worldwide.
For more information about Symbio visit www.symbio.global
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