Microlise Group, the provider of transport management software to fleet operators, expressed confidence in meeting market views for 2023. The company anticipates posting revenue growth for the first half of the year, driven by demand from original equipment manufacturer customers.
Strong Revenue Expectations
For the six months ended June 30, Microlise Group expects to report revenue of £33.9 million, a significant increase from £30.7 million during the same period last year. This growth reflects the continued success and expansion of the company.
Positive Outlook for Earnings
Microlise Group also foresees adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to increase by 4% to £4.5 million. While its first-half EBITDA margin was affected by delivery delays and investments, the company expects these issues to normalize in the second half. This positive development aligns with the group’s commitment to delivering against its order book for direct sales.
Sound Financial Position
As of June 30, Microlise Group boasts a net cash balance of £14.1 million. This solid financial foundation positions the company for future growth and expansion.
Optimistic Growth Prospects
Chief Executive Nadeem Raza voiced confidence in the group’s continued successful growth. With improving supply chains and expectations for enhanced vehicle deliveries in the second half of the year, Microlise Group remains optimistic about its prospects.
Analysts project full-year revenue ranging from £66.5 million to £67.0 million, with adjusted EBITDA estimated to be between £9.1 million and £9.2 million. Furthermore, net cash at December 31 is expected to range from £18.3 million to £18.9 million.