Veda reported revenue growth of 12.2% for the financial year ending June 30th 2015. Total revenues amounted to AUS 338.767 million vs. AUS$ 302.049 million for the prior year period. EBITDA grew by 12%. Operating cash flow amounted to AUS$137.3 million.
Veda states that B2C & Marketing revenue growth was driven by Inivio, CarHistory.com and the acquisition of The Prospect Shop (TPS).
Consumer Risk & Identity revenue grew by 10.0%. This segments accounts for 32% of total revenue. Growth drivers were IDMatrix and fraud detection solutions, employment verification, bureau services, and wealth services (ITM) acquisition.
Commercial Risk & Information Services revenue grew by 6.9%. This segment accounts for 40% of total revenue. Growth drivers were PPSR register, land titles searches, trading history & debtor IQ volumes, AML/CTF compliance and the Kingsway acquisition.
B2C and Marketing Services revenue grew by 37.8%. This segment accounts for 17% of revenues. Growth drivers were Inivio, CarHistory.com.au, consumer credit products, and the Prospect Shop & Datalicious.
International grew by 7.6%. This segment accounts for 11% of total revenue. Growth drivers were international sales of bureau technology, commercial risk products including corporate score card and the Acquisition of Inivio NZ (KMS).
Outlook for 2016: For revenue Veda expects low double digit growth. For EBITDA Veda expects low double digit growth.
“We will continue to innovate and play a strong role in industry. This includes forming new partnerships. We know how to partner with other firms to create value. During fiscal year 2015, we created or strengthened over 10 partnership arrangements.
- Veda entered into a teaming agreement with Nielsen for the purpose of exploring methods of incorporating research related insights into models and associated services.
- To reach the mid-market more effectively, we finalised a partnership with Xero, the listed accounting software business, to integrate a set of Veda products into their solution.
- To fulfil the promise of collections management and workflow automation, we integrated with CMC, an international best-practice collections software firm.
- To help our customers improve how they meet responsible lending laws, we created an exclusive partnership with MOGO. These are just a few examples of how we enhanced the way we work with our customers.
We have also joined Stone & Chalk, Sydney’s Fintech hub and look forward to working with them and the other corporate founding members to help foster and accelerate the development of world-class Australian Fintech start-ups.
We will continue to expand internationally. While today we serve five markets, including New Zealand, we are in the process of building another platform in Asia. In addition to our joint venture arrangements in Singapore, Cambodia and the Middle East, in the past year we have also become the technology provider in Indonesia for the credit bureau that has been established there by our Singapore joint-venture partners. We see an exciting future ahead for our customers, employees and shareholders and we look forward to another year of significant profitable growth”, Nerida Caesar, Chief Executive Officer commented in Veda’s Annual Report.
Source: Veda Annual Report
We have recently reported that Equifax made an offer to acquire Veda. Veda informed its shareholders in a letter stating that the the Board of Directors is currently evaluating the Proposal and will update its shareholders and the market in due course. In the meantime Veda’s shareprice is holding up.