Atturra's FY24 Trading Update

Atturra Limited (ASX: $ATA) has reported unaudited FY24 revenue exceeding $240m, marking a 35% increase from the prior corresponding period. The company's strong end to 2HFY24 resulted in an underlying EBITDA of $25m to $26m, up 19% on the prior corresponding period, in line with the guidance of 25m+. Atturra has secured over 40 new federal government contracts across multiple departments and agencies, demonstrating confidence in its sovereign capabilities. The company is also tracking well with contracts in the education, mining, resources, and local government sectors, expecting to continue strong revenue growth in FY25 while maintaining target underlying EBITDA.

Executive Commentary

FY24 has been a transformational year for Atturra. We have successfully integrated managed services acquisitions, Somerville, Sabervox, and Cirrus, into one strong performing business unit. We are proud of the way our people have managed the integration of these businesses to rapidly scale our managed services capabilities. Atturra is well positioned to offset the challenges all consulting firms experience in Canberra and is tracking well with the delivery of larger contracts we have won. We see continued rapid growth, both organic and inorganic, of more than 20% of revenue in FY25 while maintaining our historic 10.5% underlying EBITDA.

Summary of FY24 Results and Outlook

Atturra's unaudited FY24 revenue exceeding $240m and the successful integration of acquisitions have contributed to a strong performance. The company has secured over 40 new federal government contracts, demonstrating confidence in its sovereign capabilities. With a focus on maintaining target underlying EBITDA, Atturra aims for a 20%+ growth in revenue for FY25. The successful integration of Cirrus Networks and the ongoing replacement of core ticketing management and monitoring solution position Atturra to continue its growth trajectory. Atturra will announce its FY24 results in a market briefing on 26 August 2024, providing further insights into its performance and outlook for the future.