Full Year 2025 NCC Group PLC Earnings Call Transcript
Key Points
- NCC Group PLC (NCCGF) reported improved performance in the second half of FY25, aligning with board expectations.
- The Escode business achieved 12 consecutive quarters of growth, demonstrating consistent performance.
- The company has reorganized its sales structure by industry verticals, enhancing sector expertise and customer value.
- NCC Group PLC (NCCGF) has successfully reduced net debt, ending FY25 with a net cash balance of GBP13.1 million.
- The company plans to initiate a share buyback program, reflecting financial robustness and strategic confidence.
- Revenue declined by 2.6% on a like-for-like basis, with a GBP11.3 million reduction.
- The cybersecurity business experienced a challenging first half, with performance linked to economic conditions.
- Gross margin cash declined by GBP3.1 million due to revenue reduction.
- North American Escode market saw a slight decline of 0.6%, though it has recently returned to growth.
- The company remains in an offer period under the Takeover code rules, restricting communication about current trading and financial outlook.
Hello, I'm Mike Maddison, CEO of NCC Group, and along with my colleague Guy Ellis, the CFO, we are pleased to bring you our full year results for September 30, 2025, in this presentation.
I want to start with some important points. First of all, as predicted, this was a year of two halves. We had a challenging first half, as we talked about at our interims on the of June 19, but as highlighted in our training update in October, we saw improved performance in the second half. Overall, the results are in line with the board's expectations and good strategic progress is being made across both the cyber and the Escode businesses. As a reminder, we have two reviews in progress. The Escode review and the strategic review of the cybersecurity business, which is independent from both the process and the outcome of the Escode review.
Regardless of the outcome of the Escode review and as announced in our October trading update, we will launch the initial share buyback program once the Escode review concludes. Now I know
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