Bravura Solutions increases revenue by 234 per cent & EBITDA by 216 per cent

Sydney - 29 August 2007

- 2007 growth driven by organic growth and acquisition -

(ASX: BVA) – Bravura Solutions Limited (Bravura) – a leading global supplier of wealth management applications and professional services – today announced results for the financial year ended 30 June 2007. Bravura Solutions announced another record annual result driven by significantly improved performance in all geographic regions.

A summary is below.

The result
•EBITDA increased 216 per cent to $13.6 million
•Net Profit after Tax increased by 170 per cent to $5.4 million
•Revenue increased by 234 per cent from $30 million to $100.1 million
•Operating expenses increased from $25.7 million to $86.5 million, due to expansion of business excluding depreciation and amortisation
R&D/Capital expenditure
•R&D expenditure increased by 109 per cent to $9.8 million
•Capital expenditure was $4.1 million
Finance/ Depreciation and Amortisation costs
•Net finance costs were $3.0 million, consisting of both the interest on debt that was used to partially finance the FY07 acquisitions and $1.8 million of non cash related interest on deferred settlement
•Depreciation & Amortisation increased by 233 per cent to $4.0 million due to the amortisation of intangible assets recognised as a result of the acquisitions
Cash flow
•Net Operating Cash Flow was a cash outflow of $3.8 million as a result of the additional working capital requirements of the expanded Group
•Earnings Per Share rose from 3.2 cents to 4.2 cents
•Declared a final fully franked dividend of 0.9 cents per share payable on 16 October 2007, resulting in a full year dividend of 2.1 cents per share

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