Financial results for the year to 31 December 2020

~ Group NPAT of $9.7m – up 19.8% from $8.1m in Prior Corresponding Period (PCP)

~ Group EBITDA of $32.6m – up 6.6% from $30.6m in PCP

~Group revenue of $75.6m – up 0.3% from PCP

~Third consecutive half of revenue growth for the Business Group

~ Strong recurring revenues – 85% now subscription based

~ Strong operating cashflow of $32.4m (before development spend)

~ Investment in product development of $19.5m – majority of outlay for cloud-based solutions

~ Reduced debt by $5.8m – lowering current debt position by 15% to $31.8m ? $0.02 fully franked final dividend maintains year-on-year return to shareholders of $0.05 per share, providing 6% dividend yield

Presentation

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02341486-2A1280540?access_token=83ff96335c2d45a094df02a206a39ff4

ReckonDocs sale to Class Ltd Reckon is also pleased to announce that today we executed an agreement with Class Ltd to sell the assets of our ReckonDocs business. The purchase consideration is $13 million dollars (unconditional)