INCADEA PLC 
By ("incadea" or "the Company")
Incadea plc (LSE-AIM: INCA), a leading provider of software solutions and services to the global automotive dealership industry, announces that it will release its final audited results, for the year ended 31 December 2012, on 30 April 2013.
Whilst the Board has not received final audit sign off, it is pleased to confirm that trading for the year ended 31 December 2012 was ahead of management expectations with revenues ahead of market expectations exceeding Euro 29.0 million (2011: Euro 19.6 million) and profits after tax in line with market expectations.
The Board is pleased to report that incadea's international expansion is progressing faster than had been anticipated with revenue mix by geography now running almost two years ahead of where the Board had expected it to be at this stage. This increased rate of expansion has required investment and resulted in greater cash consumption than originally anticipated. However, the balance sheet remains strong being debt free and with a net cash balance as at 31 December 2012 of Euro 2.3 million. Post the initial outlay that was required for the current investment phase all regions are now generating positive operating cash flow for the group.
In turn, the Company's customer pipeline has continued to strengthen enhancing management's visibility of revenue for 2013. With the Company accelerating its international growth and delivering positive cash flow from operations the Board is confident about incadea's growth prospects and accordingly intends, as part of the Company's results announcement on 30 April 2013, to recommend a dividend which will be in line with the market's expectations.
The Company will hold a presentation to analysts and private client brokers at 09:30 on 30th April at Bankside Consultants, 6 Middle Street, London, EC1A 7PH.
Whilst the Board has not received final audit sign off, it is pleased to confirm that trading for the year ended 31 December 2012 was ahead of management expectations with revenues ahead of market expectations exceeding Euro 29.0 million (2011: Euro 19.6 million) and profits after tax in line with market expectations.
The Board is pleased to report that incadea's international expansion is progressing faster than had been anticipated with revenue mix by geography now running almost two years ahead of where the Board had expected it to be at this stage. This increased rate of expansion has required investment and resulted in greater cash consumption than originally anticipated. However, the balance sheet remains strong being debt free and with a net cash balance as at 31 December 2012 of Euro 2.3 million. Post the initial outlay that was required for the current investment phase all regions are now generating positive operating cash flow for the group.
In turn, the Company's customer pipeline has continued to strengthen enhancing management's visibility of revenue for 2013. With the Company accelerating its international growth and delivering positive cash flow from operations the Board is confident about incadea's growth prospects and accordingly intends, as part of the Company's results announcement on 30 April 2013, to recommend a dividend which will be in line with the market's expectations.
The Company will hold a presentation to analysts and private client brokers at 09:30 on 30th April at Bankside Consultants, 6 Middle Street, London, EC1A 7PH.
incadea plc |
Werner Leinauer (Chief Executive Officer) |
Alexandros Tsaparas (Chief Financial Officer) |
Cenkos Securities plc (Nomad & Broker) |
Stephen Keys (Corporate Finance) |
Camilla Hume (Corporate Finance) |
Bankside Consultants |
Simon Bloomfield |
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