Computime Holdings plc - Full-Year Results

On 22 April 2025, Computime Holdings plc published its Annual Report and Financial Statements for the year ended 31 December 2024.

Performance Overview

Revenue remained relatively unchanged at €18.9 million (2023: €18.8 million) as the growth in turnover from the Fintech and Business Software outweighed the decline in revenue from the Systems Integration business line. In this respect, Fintech surged by 14.9% to €3.21 million, Business Software increased by 11.1% to €3.11 million whilst Integration Systems fell by 4.8% to €12.5 million.  With regards to Fintech, during the first quarter the Company launched a third software product – ‘BRS CESOP’, a product developed through a 50% joint venture with a leading accounting firm in Malta.  Meanwhile, the company explained that recurring revenue accounted for 72% of the total revenue. Moreover, it was highlighted that Computime’s strategy prioritises value over volume as margin expansion took precedence over revenue growth.

On the expenditure side, net operating costs eased by 1.5% to €16.2 million compared to €16.4 million in the previous year.

As a result, Computime reported an operating profit of €2.58 million which is 11% more than the €2.32 million registered in 2023, which translates into an operating margin of 13.7% (2023: 12.4%).

After accounting for net finance income of €0.03 million and a tax expense of €0.34 million, the net profit attributable to shareholders amounted to €2.19 million (2023: €2.10 million).  This translates into a return on average equity of 24.3% (2023: 25.1%).

The Statement of Financial Position as of 31 December 2024 shows that total assets rose by 9.1% to €18.1 million, principally composed of intangible assets of €6.05 million, cash and equivalents of €4.86 million and trade receivables of €4.06 million. Meanwhile, total liabilities grew by 9.3% to €8.75 million largely reflecting an increase in deferred revenue. Shareholders’ funds increased by 8.9% to €9.38 million mainly reflecting the issuance of new shares following the recent IPO as well as the profit registered during the year under review.

Dividend

The Directors of Computime are recommending the payment of a final net dividend of €0.0077 per share which is 17% higher than what was projected in the Company’s IPO Prospectus in November 2024. The final net dividend is payable on 17 June 2025 to all shareholders as at the close of trading on 10 June 2025 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled for 12 June 2025.

Outlook

In his commentary the Chairman explained that Computime intends to
re-invest in key growth areas, including artificial intelligence (AI), cloud-based solutions, cybersecurity, and FinTech products while continuing to deliver value to shareholders through the company’s dividend payout policy.

Meanwhile, the Directors report gave an individual outlook on each of Computime’s individual revenue segments:

• Systems Integration Division outlook

The Directors explained that there are several key projects lined up in the Networking and Information Security business lines, scheduled for completion in 2025. Moreover, in 2025, the Group plans to expand its partner network and introduce new solutions in call centre technology and managed services, which will enable the Group to better support customers.

• Business Software Division outlook

The Directors stated that ERP line is expected to remain the primary driver of growth in the Business Software Division in the short to medium term. Growth is expected to come also from the Artificial Intelligence offerings of the Group. More recently, the Group has been investing in generative AI applications that use large language models to help customers automate various business processes.

• Fintech Division outlook

The Directors elaborated that the Group would continue to invest in maintaining and upgrading the Group’s products with dedicated resources focusing on designing and implementing new functionality. The international commercialisation of ‘ComplyRadar’ will continue, building on the positive momentum of the previous years. Moreover, the Group will continue to research and explore potential new products that can be introduced to expand further the owned-software portfolio of the Group.