Edison Investment Research - 1Spatial (A2NB01) 1Spatial - Encouraging early signs from GI

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Edison Investment Research

Richard Williamson

1Spatial - Encouraging early signs from GI

H120 saw a solid performance from 1Spatialâ€™s core business augmented by a good start from its recent Geomap-Imagis (GI) acquisition. GI generated revenue of Â£2m and EBITDA of Â£0.5m in its first three months and additional synergies have been identified. It is early days but in the context of a Â£5.3m price tag (EV) we see this performance as encouraging. 1Spatial also highlighted significant contract wins post period end. It now looks well set to execute on its next phase: establishing a market leading position in Location Master Data Management (LMDM).

14/10/2019 4 EN

Underlying

1Spatial

1Spatial is a holding company. Through its subsidiaries, Co. is engaged in the development and sale of information technology (IT) software along with related consultancy and support. Co. has two business segments and brands: 1Spatial, which is a technology enabled solutions provider supplying spatial solutions, software and services; and Enables IT, which is a solutions provider focusing on network managed services.

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GB00B09LQS34 United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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1Spatial - Encouraging early signs from GI

1Spatial: 2 directors

1Spatial - Well positioned to cope with any downturn

1Spatial - Trading in line, no COVID-19 impact so far

Games Workshop Group - A notable acceleration in Q225

Altron - Further margin expansion in H125

Sayona Mining - Catching up with majors

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