Atturra Limited (ASX: ATA), a leading advisory and technology services business in designing, implementing, and maintaining IT solutions, provides the following trading update for the twelve months to 30 June 2024.
Atturra has delivered FY24 revenue of $240m+ (unaudited), an increase of 35% compared to the pcp. Underlying EBITDA (unaudited) of $25m to $26m is in line with previous guidance. This strong revenue growth reflects the successful integration of acquisitions and is a testament to Atturra’s ability to execute against its strategy. Unaudited statutory EBIT of $13.5m to $14.5m, down 18% on pcp primarily due to an increase in one off M&A costs and acquisition related amortisation compared to pcp.
Cirrus Networks Limited (Cirrus) has integrated with Atturra as planned and is now part of an integrated managed services business including the Somerville and Sabervox acquisitions from last year. This integration proved to align well with our existing industry focus and has secured over 20 deals in federal government in the second half of FY24. It has delivered on the expected revenue and Underlying EBITDA over the six months to 30 June 2024 as anticipated in the guidance we provided to the market on 6 December 2023. As indicated in the FY24 half year results presentation on 26 February 2024, Atturra has commenced replacing its core ticketing management and monitoring solution, a program that will complete
in FY25.
FY24 Results
Atturra will announce its FY24 results in a market briefing starting at 10.00am (AEST) on 26 August 2024. The following URL will provide access to the live event, and to an archived webcast following the event: https://webcast.openbriefing.com/ata-fyr-2024/
CEO of Atturra, Stephen Kowal, said: “FY24 has been a transformational year for Atturra. We have been actively pursuing a strategy to build our managed services capabilities and we have successfully integrated the managed services acquisitions, Somerville, Sabervox and Cirrus, into one strong performing business unit. We are proud of the way our people have managed the integration of these businesses to rapidly scale our managed services capabilities. Despite the challenges always inherent in these processes, we have delivered on our forecast and closed many deals to enter FY25 with a strong backlog. Atturra is an end-to-end IT solutions provider with a diverse portfolio of services spread across many industries. As such, we are well positioned to offset the challenges all consulting firms experience in Canberra and I’m very pleased to see that we have been able to get a strong performance from the technology side of the business in this market. Atturra is tracking well with delivery of larger contracts we have won. We have successfully transitioned into business as usual for our multi-year contract in the mining and resources sector, a deal we mentioned in our update on 6 December 2023. The feedback from the client has been very positive and encouraging to hear how we differentiate ourselves from global system integrators. I see continued rapid growth, both organic and inorganic, of more than 20% of revenue in FY25 whilst
maintaining our historic 10.5% underlying EBITDA.”
About Atturra
Atturra is an ASX-listed technology business providing a range of enterprise advisory, consulting, IT
services and solutions with a focus on local government, utilities, education, defence, federal government,
financial services and manufacturing industries, Atturra has partnerships with leading global providers
including Microsoft, Boomi, Cisco HPE, Software AG, OpenText, Smartsheet, QAD, Infor, Denodo,
Vaultspeed and Snowflake and its clients are some of the largest public and private sector organisations in
Australia.