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#ASX Announcements
stale
Last edited 3 years ago

WELLINGTON, 4 March 2021 – Xero Limited (ASX:XRO) today announces the acquisition of Planday, a leading workforce management platform with more than 350,000 employee users across Europe and the UK that simplifies employee scheduling, allowing businesses to forecast and manage their labour costs.

Aligned with Xero’s strategic priority to grow the small business platform, the acquisition of Planday will help more small businesses save time, save money, deal with increasing compliance requirements, support more flexible forms of work, and look after their people.

Planday is an open platform that integrates with Xero, other accounting solutions andthird-party workforce-related apps, to deliver a real-time view of staffing needs and payroll costs, alongside key business performance metrics. When combined with an accounting solution, such as Xero, Planday is able to provide insights to a business or its advisor that help them to adjust staffing levels to match trading conditions and control labour costs, which areoften an employer’s largest expense.

Planday’s cloud-based technology offers significant flexibility and self-service functionality through a mobile app. Employers and employees can communicate easily, collaborate on scheduling, track time and attendance, manage payroll, vacation, absence, and other labourrelated compliance needs.

Following the acquisition, Planday will expand its presence into other markets where Xero operates, supporting Xero’s long-term growth plans.

With an upfront payment of €155.7 million and a subsequent earnout payment of up to €27.8million based on product development and revenue milestones, the total potential consideration for the acquisition of Planday is €183.5 million. Approximately 45% of the upfront consideration will be payable in shares in Xero Limited and 55% will be settled incash. Up to 50% of the earnout payment will be settled in Xero Limited shares with theremainder being paid in cash.

Completion of the transaction is expected in Q1 of Xero’s financial year ending 31 March 2022(FY22) and is subject to the satisfaction of closing conditions. The acquisition is expected to contribute approximately three percentage points of additional operating revenue growth for Xero in FY22. Transaction, integration and operating costs are anticipated to have a modest negative impact on Xero’s FY22 EBITDA.

#ASX Announcements
stale
Last edited 4 years ago

7 November 2019

Interim Report H1 FY20

  • Subscribers 2,057,000 up 478,000 YOY
  • Total subscriber lifetime value $5.4 billion up 1.4 million YOY
  • Annualised monthly recurring revenue $764,100,000 Up 30% YOY
  • EBITDA excluding impairments $65,900,000 Up $31,400,000 YOY
  • Operating revenue $338,700,000 Up 32% YOY
  • Free cash flow $4,800,000 Up $14,600,000 YOY
  • Gross margin percentage 85.2% Up 2.4PP YOY
  • Net profit after tax $1,300,000 Up $29,900,000 YOY