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Preliminary First Quarter Fiscal Year 2020 Financial Results

Author: Mark Tiedens

NEWS

Continued growth in revenue, net revenue, and EBITDA

HH Global, the world’s fastest-growing and most innovative outsourced marketing execution partner, announces its unaudited financial results for the first three months of fiscal year 2020, ended June 30, 2019.

First quarter 2020 financial highlights

  • 21.6% revenue increase, from £87.8 million in the same period last fiscal year to £106.7 million
  • 33.3% net revenue increase from £20.9 million in the same period last fiscal year to £27.2 million
  • 55.3% increase of non-GAAP adjusted EBITDA, from £4.0 million in the same period last fiscal year to £6.2 million 

Business highlights

  • Received commitments for renewal or expansion of existing or new enterprise contracts with the collective total of over £50 million of annual gross revenue at full run rate, the largest of which is a new full scope relationship with a global FMCG company
  • Continued development of our promotional products procurement service, including an expansion of the service line with a global life sciences company
  • Strengthened our global content production capabilities through expansion of our studio in Mexico City and by assuming responsibility of a photography and production studio for a leading technology company
  • Continued integration of Blueberry Wave and launched a new “Customer Experience” service line underscoring our data-driven marketing execution capabilities as a key differentiator in the marketplace
  • Added 270 people throughout the quarter, bringing our total headcount to over 1,300 across the globe, primarily embedded onsite in client locations 
  • Improved on our Ecovadis Gold sustainability accreditation rising 3 points to 66 placing HH Global in the top 5% of companies globally

HH Global Chief Executive Officer Robert MacMillan said: “Our quarterly results point to continued market acceptance of our solutions. Our ability to listen and respond to client requirements has helped us evolve our services to include customer experience and content production capabilities to meet accelerating demand. We are pleased by our results.”

Commenting on the results, Edward Parsons, Group Chief Financial Officer of HH Global, said: “Benefits from current client expansion and new client contracts signed last fiscal year have started to deliver substantial top and bottom line growth. Taken together with additional first quarter wins, we see revenue and EBITDA growth momentum continuing into the foreseeable future.”