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ECSC back in the black as recurring revenues surge

Snapshot

  • Provider of cybersecurity services
  • Services include security management, consultancy and testing
  • Managed services recurring revenues rose by 25% in the latest year
Cybersecurity

Quick facts: ECSC Group PLC

Price: 112.5 GBX

LSE:ECSC
Market: LSE
Market Cap: £10.24 m
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What ECSC does

ECSC Group PLC (LON:ECSC) is one of the UK’s longest-running providers of cybersecurity services. Established in 2000, ECSC specialises in 24/7 security breach detection and artificial intelligence (AI).

The company’s services range from security management and consultancy to testing services which uncover vulnerabilities and technology labs that develop new solutions.

 

How it's doing

In January, a brief trading update covering 2019 revealed it was cash generative in the second half of the year with positive adjusted underlying earnings (EBITDA) of around £200,000.

Revenue rose 10% year-on-year to about £5.9mln with managed services recurring revenue growing more than 25%.

The year-end cash balance stood at £0.35mln, with an unused bank facility of £0.5mln and debtors of £1mln.

 

What the boss says – Ian Mann

"We are very pleased that the record trading in H2 resulted in double-digit organic annual revenue growth and a return to adjusted EBITDA profitability.

“Growth in recurring revenue of over 25% shows the effectiveness of our strategy of winning consulting clients and converting them into long-term managed services clients.

 

CEO Interview

 

Inflexion points

  • Company recently won five new contracts worth £750,000 in total
  • The largest contract uses its always-on Kepler Artificial Intelligence
  • GDPR rules are driving increased demand for cybersecurity

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Watch

ECSC Group pleased with strong recovery in consulting growth

ECSC Group PLC's (LON:ECSC) Ian Mann caught up with Proactive London's Andrew Scott to discuss their interim results to June 2019. The firm narrowed its losses in the first half, while sales in its consulting arm continued to grow into the second half. Mann says they've seen record levels...

on 11/9/19

2 min read