Full Year 2024 Fintel PLC Earnings Call Transcript
Key Points
- Fintel PLC (LSE:FNTL) delivered a strong financial performance in 2024 with a 22% revenue growth in its core business.
- The company achieved a 17% growth in SaaS and subscriptions, indicating a strong recurring revenue base.
- Fintel PLC increased its dividend by 6% from FY23, reflecting confidence in its financial stability.
- Significant investments were made into product development, including GBP5.4 million into de facto products and GBP2.6 million into Matrix.
- The company completed five acquisitions, enhancing its market position and expanding its customer base.
- The gross margin decreased slightly to just over 30%, with a long-term target of 35%, indicating a need for margin improvement.
- There was a 5% reduction in the original customer base within intermediary services due to market consolidation.
- The mortgage market remained flat, impacting growth in mortgage commission and protection commission revenues.
- Cash conversion decreased to 78% from 88% last year, partly due to predictable cash outflows from acquisitions.
- The acquired businesses came in at a lower margin than the company's target, affecting overall profitability.
Good morning, everyone. and welcome to the Fintel full year 2024 results presentation. I'm Matt Timmins, the Joint CEO of Fintel, and I'm delighted today to be joined by my colleague Neil Stevens, Co-CEO, and our CFO, David Thompson.
Throughout the results presentation, we're going to cover an overview of the business, and then we'll go into the financial results followed quickly by a divisional summary, and then we'll concentrate on some of the M&A activity that we've been undertaking over the course of the last 18 months. And finally, we'll look forward to 2025 and beyond with an outlook.
So in terms of the overview of the business, Fintel operates right at the heart of the UK retail financial services market. We think this is an incredibly important market, and it is a market that works incredibly well for consumers. Consumers have access to thousands of different retail financial services products from hundreds of well capitalized manufacturers at a price and value which is commensurate with the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
