Edison Investment Research - 1Spatial (A2NB01) 1Spatial - Mapping a future path

Report

Edison Investment Research

Richard Williamson

1Spatial - Mapping a future path

1Spatial has made significant financial and strategic progress over the last three years. The recent capital markets day provided the opportunity to articulate its longer-term ambitions. Its Location Master Data Management (LMDM) strategy aims to leverage the strengths of its 1Integrate platform and has the potential to accelerate growth and raise margins, in our view.

18/11/2019 6 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 - Well positioned to cope with any downturn

1Spatialâ€™s FY20 results (to January) confirm reported revenue growth of 33% y-o-y and EBITDA rising 83% (pre IFRS16). The company generated positive underlying cashflow and EBIT in H2, has seen no impact on trading from COVID-19 so far and just secured a $2.6m contract win in the US. However it is prudently acknowledging that sales cycles are likely to lengthen in the current economic climate. As a precaution it has withdrawn forward guidance and stands ready to take action on costs if needed.

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1Spatial - Mapping a future path

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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