A C C E L E R A T I N G
T O G E T H E R
J T C I N T E R I M R E S U L T S 2 0 2 3
A G E N D A
J T C I N T E R I M R E S U L T S 2 0 2 3
2 | C E O H I G H L I G H T S |
5 | F I N A N C I A L R E V I E W |
1 6 | B U S I N E S S R E V I E W |
1 9 | S U M M A R Y & O U T L O O K |
2 0 | Q & A |
2 1 | A P P E N D I C E S |
1 CEOHIGHLIGHTS FINANCIALREVIEW BUSINESSREVIEW
&SUMMARY OUTLOOK
APPENDICES
"We have been delighted with the performance of the business in the first half of the year. Our organic growth has been
outstanding and our M&A activity continues to add quality and depth to the JTC platform, especially
in the US. We will achieve our Galaxy era goal two years ahead of schedule and we
are primed to begin the Cosmos era with strong momentum."
N I G E L L E Q U E S N E , C E O
2 CEOHIGHLIGHTS FINANCIALREVIEW BUSINESSREVIEW
&SUMMARY OUTLOOK
APPENDICES
J T C I N T E R I M R E S U L T S 2 0 2 3
3 5 Y E A R S O F G R O W T H
G R O U P H I G H L I G H T S
"Outstanding organic growth and strategically important M&A."
- Net organic revenue growth 21.0% (+11.5pp) | - Group Commercial Office success | ||
- | Record annualised wins of £14.6m (+15.9%) | with new services and cross-selling | |
- Revenue +30.6% | • | Banking & Treasury | |
- Underlying EBITDA +30.8% | • Tax and Regulatory Compliance | ||
- | Underlying EBITDA margin 33.1% (+0.1pp) | • | Strategic Transformation |
- | Great impetus and strong stewardship | - | SDTC a strategically important acquisition |
in the establishment of our US platform |
G A L A X Y E R A | I C S | P C S |
"An excellent performance with strong | "Market leading organic growth and | |
growth and further margin enhancements." | key strategic acquisitions in the US." |
C O S M O S E R A
3 CEOHIGHLIGHTS FINANCIALREVIEW BUSINESSREVIEW
SUMMARY &
D E L I V E R E D B Y E N D 2 0 2 3
"Our Galaxy era goal was to double revenue and EBITDA from where we ended 2020. To achieve this by the end of 2023, two years ahead of our originally anticipated timescales,
is a fantastic team effort."
J T C I N T E R I M
- Revenue +27.0% | - Revenue +38.3% | |||
- Underlying EBITDA +27.4% | - Underlying EBITDA +37.1% | |||
- Underlying EBITDA margin 31.6% | - Underlying EBITDA margin 36.0% | |||
- 22.4% organic growth | - 18.6% organic growth with revenue | |||
- Further improvements to operating | flow from Amaro, Campari and Ottawa | |||
model driving margin | - | NYPTC integration progressing well | ||
- Successful leadership | transition | - | Strategically important acquisition of SDTC | |
U S P L A T F O R M F O R G R O W T H
A C H I E V E D
R E S U L T S 2 0 2 3
D O U B L E A G A I N
"Our ambition for the Cosmos era is to double the size of the Group based on where we end 2023. The talent of the team, combined with the platform we have built for growth and positive market drivers, represents an exciting opportunity for JTC and the confidence to achieve this goal."
OUTLOOK
APPENDICES
C E O F I N A N C I A L H I G H L I G H T S
NET ORGANIC | |||||
UNDERLYING | UNDERLYING | GROW TH | |||
EBITDA MARGIN | 2 1 . 0 % | ||||
R E V EN U E | EBITDA | ||||
3 3 . 1 % | |||||
£ 4 0 . 2 M | + 1 1 . 5 P P | ||||
£ 1 2 1 . 5 M | + 0 . 1 P P | 9. 5% H1 2022 | |||
+ 3 0 . 8 % | |||||
+ 3 0 . 6 % | 33 . 0% H1 2022 | ||||
£30 .7M H1 2022 | |||||
£93 . 0M H1 2022 | |||||
4 CEOHIGHLIGHTS FINANCIALREVIEW BUSINESSREVIEW
D | O | ||||
I | |||||
R | |||||
E | |||||
P | |||||
NEW | H | ||||
T | |||||
BUSINESS WINS | N | ||||
£ 1 4 . 6 M | O | ||||
M | |||||
+ 1 5 . 9 % | X | ||||
I | |||||
£12 . 6M H1 2022 | S | ||||
R | |||||
V | E | ||||
E | |||||
T | |||||
S | |||||
E | |||||
B |
LTM WIN R ATE
5 1 . 4 %
+ 4 . 6 P P
4 6 . 8% H1 2022
F JT C BOO | K | N | |||||||||||||
EO | |||||||||||||||
U | O | ||||||||||||||
L | W | ||||||||||||||
A | |||||||||||||||
£ | |||||||||||||||
E | V | ||||||||||||||
1 | |||||||||||||||
M | . | ||||||||||||||
I | 6 | ||||||||||||||
T | L I FE T I M E | B | |||||||||||||
N | |||||||||||||||
E | |||||||||||||||
F | VALUE WON* | ||||||||||||||
I | |||||||||||||||
L | £ 1 9 5 . 1 M | ||||||||||||||
+ 1 6 % | |||||||||||||||
£168 . 2M H1 2022 | |||||||||||||||
J | S | ||||||||||||||
T | R | ||||||||||||||
C | |||||||||||||||
A | |||||||||||||||
E | |||||||||||||||
C | |||||||||||||||
L | |||||||||||||||
Y | |||||||||||||||
I | |||||||||||||||
E | + | ||||||||||||||
N | |||||||||||||||
T | 4 | ||||||||||||||
L | I | = | 1 | ||||||||||||
* Lifetime Value Won | |||||||||||||||
F E T IME | |||||||||||||||
(LVW) is 14 times | |||||||||||||||
annualised value of |
INTERIM DIVIDEND
3 . 5 P
P E R S H A R E + 0 . 4 P P E R S H A R E
3 .1P H1 2022
&SUMMARY OUTLOOK
APPENDICES
J T C I N T E R I M R E S U L T S 2 0 2 3
work won minus value |
of attrition in past year. |
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JTC plc published this content on 12 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 September 2023 10:05:11 UTC.