Progressive Presents the management team of Idox, a leading developer of software solutions – 22/06/2021

Idox is a leading provider of specialist software solutions for the UK public sector and other asset intensive industries. Idox helps clients become more productive by transforming their digital processes.

Presenters: David Meaden, CEO Rob Grubb, CFO

Watch the full presentation below or navigate to the segments and questions that interest you the most.

1. Can you please explain how you manage such high margins in the Public Sector. Can they be maintained?

2. PSS accounts for 71% of FY20 sales with an EBITDA margin of 34% and 90% of UK local authorities are customers. Where does the future growth lie, is it internationally with sales to international local authorities such as the Government Bermuda contract? And if so, what growth rate do you expect for the PSS division vs the EIM division?

3. How cyclical is the elections business? Is it just central government and national elections, or is there also a lot of local and regional election activity?

4. You describe having appointed a new Head of Professional Services. Can you share IT services staff across the various parts of the business, or are they relatively contained within their focus area?

5. Have you had any bad debts in overseas locations within the EIM division? What do you do to manage those risks?

6. Looking at your 3-5 year plan of EBITDA margins reaching 35%, is there any material M&A assumed within this, or will it all be organic?

7. Could you please describe what happened with government payment patterns during COVID-19? Did they keep paying their bills on time and did you learn anything about how best to work with them as customers?

8. In recurring revenues, EIM was down 11%. Does this mean you have lost these contracts and are not now recurring in nature? I don’t understand how recurring revenues can been down as the customers are signed into a contract.

9. How often do your Public Sector clients recommend acquisition targets to you, or do you always need to find them yourselves?

10. In terms of M&A, is there anything you can do (other than just paying more!) to make Idox an attractive buyer for some of the privately held companies?

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