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Viewing: Logicalis International – Financial performance / Next: Logicalis Latin America – Overview

Logicalis International – Financial performance

Logicalis International continues to develop its capabilities within cloud, IoT, software, security, data management and intelligent networks in support of its strategy to provide full lifecycle solutions around IT infrastructure to its customers.

US$ million   FY25  FY24  % movement  Note reference
Revenue   1 176.1  1 250.2  (5.9)%
1
Gross profit   357.2  338.6  5.5%   
Gross margin (%)   30.4%  27.1%   
1
Operating costs   (267.2) (272.0) (1.8)%
2
EBITDA   90.0  66.5  35.3%   
EBITDA margin (%)   7.7%  5.3%     
Adjusted EBITDA   94.0  74.1  26.9% 
3
Adjusted EBITDA margin (%)   8.0%  5.9%     
Adjusted EBITDA as a % of gross profit   26.3%  21.9%     
Depreciation and amortisation   (23.4) (27.4) (14.6)%  
Operating profit   65.9  39.1  68.5%   
Operating profit margin (%)   5.6%  3.1%     
Net finance costs   (12.8) (13.4) (4.5)%
4
Profit before tax   53.7  25.5  110.6%   
1

Revenue decreased by 5.9% to US$1.2 billion (FY24: US$1.3 billion) due to a mix change with more net revenue accounted software and services.

Strong gross margin % improvement due to higher product margins achieved and a strong professional services margin.

2

Operating costs decreased reflecting the impact of restructuring actions taken in FY23 and FY24 as well as other cost reduction initiatives.

3

Adjusted EBITDA increased to US$94.0 million (FY24: US$74.1 million) as a result of restructuring activities undertaken in previous years, increased organic growth and more higher product margin transactions.

Adjusted EBITDA excludes acquisition and integration costs of US$1.6 million and share-based payment costs of US$2.4 million. In FY24, adjusted EBITDA excluded acquisition and integration costs of US$3.4 million, one-off tax items impacting EBITDA of US$1.8 million and share-based payment costs of
US$2.4 million.

4

Net finance costs decreased by US$0.6 million to US$12.8 million, driven by lower average debt.

US$ million   FY25 FY24
Cash resources   150.0  123.8 
Bank overdrafts   (136.9) (141.5)
Short-term interest-bearing liabilities and short-term leases   (40.0) (28.5)
Long-term interest-bearing liabilities and long-term leases   (44.7) (33.1)
Net debt   (71.6) (79.3)

Net debt decreased principally driven by improved working capital.