Ascential announce a recommended final dividend of 4.0p, making a total dividend of 5.8p for the year (2018: 5.8p) with the prior year benefiting from earnings from discontinued operations.
Other financial highlights include:
Revenue of £416.2m (2018: £348.5m).
Reported growth of 19.4%. Growth of 6.4% on an Organic basis, 9.0% on a Proforma basis.
Adjusted EBITDA of £128.5m (2018: £108.4m).
Reported growth of 18.5%. Growth of 6.2% on an Organic basis, 8.5% on a Proforma basis.
Margin of 30.9% (2018: 31.1%).
Adjusted operating profit of £105.8m (2018: £92.2m). Reported operating profit of £19.9m reduced versus the prior year (2018: £41.4m) due to a £36.9m charge for deferred consideration for Flywheel Digital following its exceptional performance in 2019.
Strong growth in earnings per share: Adjusted diluted EPS of 18.5p up 20.9% (2018: 15.3p).
Continued good cash generation: Operating cash flow conversion of 88% (2018: 106%), resulting in closing net debt leverage of 1.4x (December 2018: 1.1x) allowing headroom for continued investment in organic growth, select acquisitions and shareholder returns.
Successful refinancing executed shortly after the year end with expanded £450m revolving credit facility, replacing our term loans.
Share repurchase programme announced of up to £120m commencing shortly.