In its first results announcement since its December 2014 initial public offering, Melbourne, Australia-based SaaS construction collaboration technology provider Aconex has announced that revenues for the year ending 30 June 2015 were up 24% to Au$82.4m (2014: Au$66.2; 2015 results equivalent to £37.6m, US$59.4m or €51.7m) – read Motley Fool, the AFR. This result was ahead of the expectations set at the time of the IPO, and of the forecast at the time of its June 2015 trading update.
The company declared a pre-tax profit (EBITDA) of Au$3m (2014: a loss of Au$2.13m). These numbers vary against previous reports (a loss of Au$3.2m) as the latest EBITDA is “based on core operations, which exclude ASX listing fees expense, foreign currency exchange losses, and gains/losses associated with the Francisco Partners investment” (see Aconex IPO signposts VC exit).
Regional growth varied. Australasian revenues grew by 15% to Au$36.2m; EMEA, in revenue terms, remains important, contributing Au$21.3m (up 29% – though in that region, at €14.4m, it lags behind European-based SaaS construction collaboration providers such as Conject and ThinkProject – post), while revenues in the Americas (Au$14.7m) and in Asia (Au$10.2m) grew by 37% and 35% respectively.
In trading recently affected by an international slump in prices, shares in Aconex today closed at Au$3.99, down on a 5 August 2015 peak of Au$4.4, but Aconex CEO Leigh Jasper remains optimistic about the prospects in an under-penetrated global collaboration market, the impacts of three enterprise agreements and its recent acquisitions of US-based ERP vendor Worksite and Leighton’s in-house Australasian competitor, CIMIC/Incite’s Keystone.
He is forecasting annual international revenue growth of 30%and ANZ regional growth of 15% over the ‘next couple of years’. Global equity turmoil led by China’s stockmarket rout could dampen confidence and slow the onset of some large infrastructure and building projects, but has not changed its outlook:
“There’s a confidence element, but if it’s just the share market – the share market in China is such small percentage of the overall economy – I think it may mean that projects slow coming on a bit, but we’ve got long-term clients and long-term revenue.”