Vianet Group - FY23 Results
Vianet has published results for the year to March 2023, confirming the strong performance flagged in the trading statement issued in May. Revenue increased 6.8% YoY to £14.1m, earning a gross margin of 66.4% and generating adjusted operating profit of £3.1m, up 31.4% YoY. Cash conversion was strong at 102.8% of EBITDA, returning to pre-pandemic levels. Management characterised the performance as a year of gathering momentum with strong prospects which was underscored by the reinstatement of the dividend with a final dividend of 0.5p declared for the year. These results were delivered despite a number of challenges. We forecast earnings to step up sharply from here and on our new FY25 forecasts, Vianet should return to 2020 levels of pre-tax profit with the balance sheet deleveraged and trading on a very undemanding 13.1x PE.Vianet Group is a provider of actionable management information and business insight created through combining data from its smart Internet of Things solutions and external information sources. Co. operates two business divisions: Smart Zones, which principally consists of beer monitoring business (including the U.S.) and gaming machine management services; and Smart Machines, which comprises vending machine telemetry and contactless payment solutions, as well as monitoring business primarily in the vending sector. Co. provides design, product development, sale and rental of fluid monitoring equipment and machine monitoring equipment, data insights and related services in these divisions.
Capital Access Group advises companies on effective engagement with investors. Our experienced team offers market-leading access with hard-to-reach investors, including smaller institutions, pension funds and private client fund managers. These under-serviced investors are located not only in London but across the regions of the UK and Europe. We have an unrivalled knowledge of this extensive audience, to whom our published research is distributed, as well as to larger institutions. We offer this service as part of an integrated investor communications strategy to promote a company’s investment story.
Our clients, ranging from AIM to FTSE 100 companies, benefit from our professional, long-term relationships with investors. Not only do we identify and target investors, we contact them directly and relay their views back to clients with analysis, interpretation and advice. This ensures that our clients are in control of their investor engagement. The objective is to improve the reach and engagement with investors, which in turn strengthens the share price.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.