May 27, 2021 / 10:30PM GMT
Steven Newman - EROAD Limited - CEO & Executive Director
Good morning, Marina. It is my pleasure along with Alex Ball, our finance -- Chief Financial Officer, to present the full year results of EROAD for FY '21. We will work through the investor presentation. It will take us about 40 minutes, leaving questions for the remaining 15 minutes now.
If we begin on Page 4. So we're very pleased that we were able to grow during a very COVID-impacted year. We saw growth in each of our markets. At a group level, revenue was increased by 13% to $91.6 million.
That growth dropped to EBITDA as well. So we saw EBITDA increase 13% as well, and that's taking into account a significant increase in bad debt provision of $1.5 million due to the impact at our customer base sales. And EBITDA margin improved slightly, it is 34% of revenue. One of the main focuses for FY '21 was to weather the storm and come out of the year far more competitive, but to retain all the underlying metrics that we have historically enjoyed, which was strong monthly recurring revenue to subscriber and high retention rates. And
Full Year 2021 EROAD Ltd Earnings Call Transcript
May 28, 2021
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