GlobalData has delivered strong interims, further validating the Group’s core operating model and product strategy. Whilst event delays into H2 saw the top-line moderate 2% y/y to £86.7m, underlying subscription revenue rose +7%, ahead peer growth rates (3%-6%). EBITDA margins benefitted from organic cost decline (particularly travel and events), whilst paused sales and marketing FTE investment also supported margin expansion (+410bps y/y to 31.4%). Underlying deferred revenue rose +3% to £80.6m (ex events) offering a high degree of earnings visibility. GlobalData continues to execute on its mission to become the world’s trusted source of industry data, analytics, and insight, embedding its product in customer workflows to support decision making through provision of rich data, analytics and insights. The Group looks exceptionally well placed to build value, benefitting from strong incremental revenue margins against an increasingly static cost base.
