Esker - Sticking with tried and tested growth strategy
Esker reported FY22 revenue growth of 19% (13% constant currency (cc)), operating profit growth of 29% and normalised diluted EPS growth of 29%. SaaS revenue grew 23% (17% cc) and now makes up 80% of group revenue. Bookings intake increased 19% cc y-o-y on an annual recurring revenue basis, providing support for growth in FY23 and FY24. Management maintained its guidance for FY23; we have trimmed our FY23 forecasts, which sit within the guidance range, and introduce forecasts for FY24. We forecast EPS to decline 1% in FY23 (as the currency benefit and accrual reversal are not expected to repeat) and increase 17% in FY24.ESKER and its subsidiaries are engaged in the design and production of software applications. Co. operates corporate resource access software such as applications and databases for workstations. Co. has three major product groups: Host Access, DeliveryWare and Fax Server. Host Access products allows users to access applications and databases stored on different servers from their own workstations. DeliveryWare responds to the need of companies for automatic management document delivery. Fax Server allows the user to send a fax directly from their workstation.
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