Dion Global Solutions reports significant growth in 2014 half year results

11 November 2014

Consolidated financial review for the first half of the financial year 

Dion’s income from operations in H1 FY14-15 saw a 27% y-o-y growth, with 14% y-o-y growth in Q2 FY14-15. 

EBITDA of H1 FY14-15 improved to negative USD 0.2 million from negative4.29 million in H1 FY13-14.

EBITDA of Q2 FY14-15 improved to a positive USD 0.5 million from a negative USD 0.71 million in FY13-14

Dion Global Solutions (Dion) (BSE: 526927), technology partner to the financial services industry, announced its half year results for FY14-15. The company reported a total income of USD 21.46 million for H1 FY14-15, an increase of over 27% y-o-y and USD 11.46 million for Q2 FY14-15, an increase of over 14% y-o-y.

Ralph James Horne, Global CEO and Managing Director, Dion, said, “Although trading conditions have been difficult over the last 12 to 18 months, we have made an encouragingstart to this financial year with strong first half results. Cost savings we initiated previously are now having a big impact and we are also building an excellent pipeline in the new products we have been investing in over the last couple of years.”

“We are also pleased to have completed the acquisition of the GmbH (ex SwissRisk) part of our business earlier this year, with its products underpinning many of our solutions in growth areas.”

Company reported over 27% y-o-y growth in H1 FY14-15 with total revenue of USD 21.46 million during the first half of the financial year as against total revenue of USD 16.83 million during the corresponding half of the previous financial year.

Company reported over 14% YoY growth in Q2 FY14-15 with total revenue of USD 11.46 million during the second quarter of the financial year as against total revenue of USD 9.99 million during the corresponding quarter of the previous financial year.

EBITDA of FY14-15 H1 saw an improvement by USD 4.08 million as the EBITDA loss reduced from USD 4.29 million to USD 0.2 million.

EBITDA and EBIT of Q2 FY14-15 recorded positive results at USD 0.5 million and USD 0.015 million respectively. 

#Exchange rate used for all USD figures: 1 USD = INR 60

Dion now has 14 clients for its new FATCA TRAC solution across the globe.

The company completed its acquisition of its German subsidiary in July this year.

Dion has introduced a new model in its post trade settlement solution, NOVA, to facilitate the upcoming Shanghai Stock Connect Program. Company is currently deploying the solution at its client site in Hong Kong.

Company’s wealth management solution won the Best Solution award at the Systems in the City Awards 2014 for 3rd time in a row.

Dion’s development centre in India successfully received the ISO 9001:2008 and CMMI Level – 3 certification.

 

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