Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on KALIBRATE TECHNOLOGIES PLC. We currently have 14 research reports from 1 professional analysts.
|06Dec16 11:05||RNS||Result of AGM|
|09Nov16 03:46||RNS||Notice of AGM and posting of Annual Report|
|28Sep16 10:35||RNS||Holding(s) in Company|
|20Sep16 07:00||RNS||Final Results|
|13Sep16 11:00||RNS||CHANGE OF DATE - ANNOUNCEMENT OF AUDITED RESULTS|
|25Aug16 09:00||RNS||Notice of Results|
Frequency of research reports
Research reports on
KALIBRATE TECHNOLOGIES PLC
KALIBRATE TECHNOLOGIES PLC
N+1 Singer - Kalibrate Technologies - In-line results; investing for growth
20 Sep 16
Kalibrate’s FY’16 revenues were slightly shy of our expectations but adjusted EBITDA was in line. SaaS transition continues, with annualised recurring revenues up 10%, but perpetual deals remain a feature (2 large deals in late Q4). The shape of the pipeline suggests there are some sizeable contracts to close, but the group is encouraged by developments and we make no changes to P&L forecasts. Given its track record and leadership in developed markets, Kalibrate is well-positioned in new markets that are deregulating. In addition, a broadening product set offers substantial cross-selling opportunities. Its medium-term prospects and competitive position remain strong.
N+1 Singer - Morning Song 20-09-2016
20 Sep 16
Today’s update is the first major news since completing the Brand Architekts acquisition shortly after the year end, and we take a lot of confidence from it. Firstly, strong profit growth has been achieved in the core business, with a good pipeline and positive momentum carrying into H1. Secondly, early indications from the newly established owned brand business provide underpinning for our analysis of its future profit potential. A positive outlook statement boosts confidence and means scope for further re-rating. We suggest 12 month fair value is around 305p.
FY outlook unchanged by H1 timing delays
15 Mar 16
Kalibrate delivered strong progress against its key metrics around core markets and new geographies, cross-selling, driving SaaS and recurring revenues and expanding product capability. However, the group’s interim performance was impacted by 3 pricing deals that slipped into H2, all of which have now been signed. Its FY outlook is unchanged, as are our forecasts, supported by a healthy pipeline. With more activity in the countries that have recently deregulated, more markets deregulating and a broader offering with Merchandising, we remain enthused as to its prospects and believe it is well positioned to capitalise on the growth opportunity.
Capital Markets Day: Resounding endorsement from a customer at time of significant opportunity
05 Feb 16
We took a lot of positive things from Kalibrate’s Capital Markets day in terms of its market position and global opportunity in its existing Pricing and Planning business and the recently added Merchandising solution. The presentation of a customer (Ricker’s, the leading fuel and convenience brand in Indianapolis) was particularly enlightening in terms of the value Kalibrate’s solutions (Pricing and Planning) have delivered to their company and how excited they are about what the Merchandising product could do for their business (currently a beta customer). Interestingly, he also shared how much low oil prices have boosted their profitability (record year) and how this experience would be shared by other fuel retailers – i.e. Kalibrate’s customers. It is clear that Kalibrate is seen as the unparalleled domain expert in the industry and this is borne by its 100% client retention rate since 2007. With more markets deregulating and a broader offering with merchandising, we believe the future is bright. We believe the Merchandising product has at least the same potential as Kalibrate’s existing Pricing business which has delivered c. $60m of revenues in the last 4 years. With a loyal installed base that have a clear appreciation of what the product can deliver, we believe our optimism is well underpinned.
Extension of BP relationship
23 Nov 15
Kalibrate announced that it has extended its relationship with BP to provide its Strategic Location Solutions which will deliver advanced retail network planning and actionable intelligence to inform BP strategies. Kalibrate has been a long-term supplier of BP’s downstream business and the extension of the relationship is another endorsement of the group’s capabilities. We believe Kalibrate’s proven expertise puts it in a strong position to be the strategy and technology supplier of choice to the fuel and convenience retail industry as increasing number of markets deregulate globally.
08 Dec 16
Elderstreet stake acquired 02 GENERAL NEWS Globalworth premium In this issue Venture capital firm Draper Esprit has taken a 30.8% stake in venture capital trust manager Elderstreet. Both investment managers focus on the technology sector and they will be able to co-invest. Elderstreet has investments in a number of AIM-quoted companies through its VCTs. The purchase was funded by an issue of Draper Esprit shares worth just over £250,000. Simon Cook, the chief executive of Draper Esprit, is a former partner at Elderstreet so he knows the business and the people who run it, although he did leave more than 14 years ago. Cook has previously acquired portfolios from 3i and Cazenove, two other firms where he has worked. Draper Esprit has an option to acquire the remaining shares in Elderstreet, which has more than £25m under management. Adding Elderstreet to the group enables Draper Esprit to offer investors a range of EIS funds, VCTs and an ISA qualifying listed evergreen patient capital fund. The enlarged group has venture capital assets under management of more than £350m. At the end of September 2016, Draper Esprit had a net asset value of 352p a share, which is similar to the current share price. The June 2016 flotation price was 300p a share. Draper Esprit is quoted on Ireland’s Enterprise Securities Market as well as AIM.
A data-driven H1 raises expectations
05 Dec 16
The first reporting period under the new D4t4 Solutions brand saw the group (previously IS Solutions) deliver good growth, leaving it well on track to meet PBT forecasts in FY 2017, and we now increase FY 2018 forecasts. The business continues to flourish from its focus on data management and analytics, enabling its international blue-chip client base to gather and gain advantage from the mass of customer data available, utilising the leading-edge Celebrus solution. Industry analysts predict 12% CAGR for the BI & Analytics market through to 2020, and D4t4 is riding this wave of demand.
09 Dec 16
Ideagen* (IDEA): Acquisition of IPI Solutions (CORP) | Lombard Risk Management* (LRM): Atos deal improves routes to German market (CORP) | Photo-Me* (PHTM): Upgrade to FY forecasts (CORP) In other news… Frontier Developments* (FDEV): ED coming to Xbox and Planet Coaster update (CORP) | LiDCO* (LID): Analyst interview (CORP) | Rude Health: Analyst interview
06 Dec 16
600 Group* (SIXH): Interim results: order book showing signs of improvement (CORP) | Real Good Food* (RGD): Commodity volatility impacts numbers (CORP) | Minds + Machines* (MMX): .vip goes live in China (CORP | Imaginatik* (IMTK): Interims (CORP) | iomart* (IOM): Quality business as usual (CORP) | Fulcrum (FCRM): Upgrades continue (BUY)
N+1 Singer - Morning Song 05-12-2016
05 Dec 16
RTHM is acquiring a profitable Canadian listed mobile specialist for equivalent of US$42.5m consideration in shares (88.235m). This helps adds to two growth vectors RTHM is targeting; (i) adds unique exclusive audience (10m unique) and (ii) Exclusive demand Yahoo and Facebook. The business has 15 premium and owned and operated apps which provide users with rewards for activity. The business is expected to deliver c$9m of EBITDA in FY18 including $2m of cost synergies. This equates to just 4.7x EV/EBITDA. This marks what we see the first step in RTHM activity to scale the business and deliver on margin potential (see our initiation notes). Our initial estimates for EPS revisions are very significant - for FY18 are 2.3 cents (currently 0.6) and for FY19 4.3 (currently 2.5). There is a call at 830 for investors and we will revise post this.
A Good Deal of Potential
07 Dec 16
The Millstream acquisition should generate substantial shareholder value in our view. It boosts adjusted EBIT by c.50% for just a £15.5m price tag, and the complementary customer set and product base create excellent cross selling opportunities. We raise our FY17 adjusted EPS estimate to 7.6p and introduce a FY18 estimate of 9.6p. PROACTIS is building its reputation for intelligent M&A and shrewd organic delivery; we expect to see further delivery on both fronts.