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Full Fiscal Year 2018 Results Announced

Author: Mark Tiedens
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Results set new company records

HH Global today announced unaudited financial results for the final three months and full fiscal year ended March 31, 2018.

Fourth quarter 2018 highlights 

  • Revenue was £76.9 million in the fourth quarter
  • Gross profit was £17.8 million, or 23.1% of gross revenue in the fourth quarter
  • Non-GAAP adjusted EBITDA was £2.7 million in the fourth quarter

Full fiscal year 2018 highlights

  • Gross revenue was £325.5 million, an increase of 12.2% compared with £290 million in fiscal year 2017.
  • Gross profit was £73.3 million, or 22.5% of gross revenue, an increase of 11.7% compared to £65.6 in fiscal year 2017.
  • Non-GAAP adjusted EBITDA was £13.4 million, an increase of 3.0% compared to £13.0 million in fiscal year 2017.

Business highlights

  • Received commitments for expansion of existing or new enterprise contracts in the last fiscal year with the collective total of approximately £110 million of annual gross revenue at full run rate.
  • The largest of the new contract commitments is an expansion of the company’s print and premiums procurement services relationship with a global healthcare company to 29 countries throughout Latin America.
  • Won numerous awards, including the Amazon Growing Business “Business of the Year: Larger Company” award, and the edie Sustainability Leaders Award 2018 for Sustainability Innovation: Standards, Systems and Software.
  • Entered an alliance with Canopy, further demonstrating leadership in sustainable marketing execution solutions.
  • Achieved Gold status recognition Corporate Social Responsibility score for sustainable initiatives by EcoVadis including HH Global among the top 5% of globally evaluated companies.

“These results set new records for our company,” said HH Global Chief Executive Officer Robert MacMillan. “Our future pipeline, combined with new contracts won throughout the year, put us in a strong position for growth during our next fiscal year. We expect to announce some further significant new contracts early into our new financial year and with the continued focus of growth and expansion within our existing clients, we expect another year of substantial growth.”

Edward Parsons, Group Chief Financial Officer of HH Global, said: “During FY18 we continued our investment into the business, especially into APAC and LATAM, as we look to deliver a best-in-class global infrastructure.  We are now seeing significant growth opportunities in both LATAM and APAC. This is in addition to the EMEA and North American businesses continued strong year-on-year growth. Looking into fiscal year 2019, we expect benefits from our new client wins to begin to start to deliver additional bottom line growth by midyear.”