Workplace Systems International (WSI)
ISR viewWhilst the recession has had a signficant impact on Workplace, the weaker financial performance has masked substantial strategic development of the company with the launch of the SaaS product WorkPlace OnLine. Whilst it is early days, prospects for this new product look very encouraging.
Share price
Market cap.0.0m
Financials
|
Year end Mar Profit & Loss |
Mar 2007 A £m | Mar 2008 A £m | Mar 2009 A £m | Mar 2010 A £m | Mar 2011 A £m |
Mar 2012 E £m | Mar 2013 E £m |
|---|---|---|---|---|---|---|---|
| Revenue £m | 8.8 | 10.8 | 9.6 | 9.1 | 9.1 | 11.1 | 12.6 |
| Adj EBITDA £m | -1.5 | 1.2 | -0.1 | 0.5 | 0.2 | 1.7 | 2.2 |
| Adj EBIT £m | -1.6 | 1.2 | -0.3 | 0.2 | -0.3 | 1.2 | 1.7 |
| Reported PBT | -2.1 | 1.3 | -2.4 | 0.0 | -0.3 | 1.2 | 1.7 |
| PBT before exceptionals and AAG | -1.5 | 1.2 | -0.4 | 0.0 | -0.3 | 1.2 | 1.7 |
| Fully adj PBT | -1.5 | 1.3 | -0.3 | 0.2 | -0.3 | 1.3 | 1.8 |
| NOPAT £m | -1.1 | 0.9 | -0.2 | 0.1 | -0.2 | 0.8 | 1.2 |
| Reported EPS | -1.3 | 0.9 | -1.4 | 0.0 | -0.2 | 0.7 | 1.1 |
| EPS before exceptionals and AAG | -0.8 | 0.5 | -0.2 | 0.0 | -0.2 | 0.5 | 0.7 |
| Fully adj EPS | -0.7 | 0.6 | -0.1 | 0.1 | -0.1 | 0.5 | 0.8 |
| Dividend per share p | 0.0 | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Cash flow & Balance sheet | |||||||
| Operating cash flow | -1.9 | 0.0 | 0.8 | 0.2 | 0.6 | 1.2 | 1.7 |
| Free Cash flow £m | -2.0 | 0.4 | 0.7 | -0.2 | 0.2 | 0.8 | 1.3 |
| FCF per share p | -1.4 | 0.2 | 0.5 | -0.1 | 0.1 | 0.5 | 0.8 |
| Capex | -0.1 | 0.6 | -0.6 | -0.5 | -0.5 | -0.5 | -0.5 |
| Acquisitions | 0.0 | -0.1 | -0.2 | 0.1 | 0.0 | 0.0 | 0.0 |
| Net cash flow | -1.9 | 0.8 | -0.2 | -0.3 | 0.2 | 0.8 | 1.3 |
| Shares issued | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net cash | 1.9 | 2.7 | 2.4 | 2.1 | 2.3 | 3.0 | 4.4 |
| Metrics | Mar 2007 A | Mar 2008 A | Mar 2009 A | Mar 2010 A | Mar 2011 A | Mar 2012 E | Mar 2013 E |
| Revenue growth | 23.1% | -11.8% | -5.2% | 0.4% | 22.1% | 13.8% | |
| Adj EBITDA growth | -185.5% | -111.1% | -460.9% | -61.8% | 781.9% | 33.1% | |
| Adj EBIT growth | -177.7% | -127.9% | -145.0% | -269.2% | -545.3% | 47.1% | |
| Adj PBT growth | -188.5% | -119.3% | -162.3% | -261.3% | -594.4% | 43.4% | |
| Adj EPS growth | -180.1% | -118.8% | -161.6% | -282.8% | -536.9% | 43.4% | |
| Dividend growth | -100.0% | ||||||
| Adj EBIT margins | -18.1% | 11.5% | -3.6% | 1.7% | -2.9% | 10.6% | 13.7% |
| Operating cash conversion | 132.0% | 2.0% | -563.0% | 32.0% | 329.0% | 70.0% | 78.0% |
| Capex/Depreciation | 44.0% | 308.0% | 145.0% | 106.0% | 100.0% | 100.0% | |