Wilmington plc announces its half year results
Key highlights include:
- Strong ongoing revenue growth, up 17%. Organic revenue growth of 4%.
- Repeat revenues now 73% of ongoing revenues (H1 FY25: 71%).
- Organic recurring revenues 38% (H1 FY25: 38%).
- Ongoing adjusted EBITA up 9% to £10.4m. Ongoing adjusted PBT steady at £11.8m (H1 FY25: £11.8m). As expected acquisitions caused a short-term impact on margins.
- Net debt at 31 Dec 25 £65.0m (net cash at 31 Dec 24: £31.3m; 30 Jun 25: £42.2m) reflecting good cash conversion offset by acquisition of Conversia for £105.2m (£101.9m net of cash received).
- Continued portfolio enhancement with Conversia acquisition in Dec 2025 – expands international position in the growing GRC Data Privacy markets and further improves quality of Group revenues and profits.
- Continued investment in the development of single proprietary RegTech platform.
- Overall trading for FY26 in line with market expectations with a strong contracted order book for H2.
“Our ongoing businesses have continued to perform well with solid organic revenue growth and good cash conversion, supported by consistent strong levels of repeat revenues. “In December 2025, we completed the acquisition of Conversia, a Spanish GRC and Regulatory Compliance business. This earnings enhancing acquisition significantly extends our reach in the GRC markets and opens up new opportunities in the large and growing regulated Data Privacy sector. Conversia is delivering high quality revenues, of which greater than 70% are annually recurring, and is performing ahead of forecast. “Over the last six years we have transformed Wilmington from being a media company operating as distinct divisions into a tightly focussed GRC RegTech services group, based on our proprietary RegTech platform with embedded AI. “Our strong contracted order book and repeat business gives us good visibility for continuing growth, with trading in the current financial period continuing to be in line with market expectations.”
Chief Executive Officer, Wilmington plc
Read the full report here