We are pleased to report another year of strong progress, with continued growth across the Group and delivery against our strategy. Overall, our businesses achieved positive growth, profitability increased and we generated good cash conversion
A key milestone during the year was the acquisition of Conversia in December 2025. The acquisition expands Wilmington's international presence and strengthens our capabilities in the growing data privacy market, an increasingly important area within Governance, Risk and Compliance (GRC). Encouragingly, Conversia has performed ahead of expectations since joining the Group.
We have also continued to invest in our proprietary RegTech platform, developing technology that supports both our regulatory information and professional education businesses. Throughout the year, we enhanced our use of AI across products and internal tools, helping learners engage more effectively with course content while enabling colleagues to access information more easily and work more efficiently across connected systems.
Together, these developments demonstrate our ongoing commitment to growth, innovation and delivering value for our customers and colleagues.
Highlights
-
Strong on-going revenue performance
- 37% ongoing revenue growth to £120.0m (2025: £87.7m) – eight of the nine ongoing businesses grew
- Annual recurring revenue up 6%, making up 38% (2025: 37%) of organic revenues, 41% including Conversia. Recurring revenue secured through contracts that extend at least one year ahead, providing greater visibility of future income
- Repeat revenue 80% of ongoing revenues (2025: 80%) from customers who purchased our services in both the current year and the previous year, showing the level of customer retention and loyalty.
- Ongoing adjusted EBITA up 33% to £29.8m (2025: £22.4m). Ongoing adjusted PBT up 15% to £30.1m (2025: £26.2m), giving a clearer picture of the underlying performance of the business
-
Net debt excluding lease liabilities at 30 June 26 £53.1m. down from £65.0m at 31 Dec 25, reflecting good cash conversion. This shows the difference between the cash the business has available and the money it owes, excluding lease commitments
-
Continued portfolio enhancement with Conversia acquisition completed in Dec 2025 for £105.2m in cash
-
Expands our international position in the growing GRC Data Privacy markets
-
Further improves the quality of Group revenues and profits
-
Conversia’s full year revenue was 20% higher than the previous full year.
-
“We have delivered another resilient performance with both ongoing revenue and ongoing adjusted EBITA growth increasing by over 30%. Our total adjusted Profit Before Tax (PBT) growth over the six-year period has a Compound Annual Growth Rate (CAGR) of 13%, reflecting our active portfolio management of the Group and focus on our high-quality portfolio of growing international GRC RegTech services businesses, based on our proprietary RegTech platform. “Conversia, our recently acquired Spanish GRC business, showed notable organic growth up 20% year on year, with high-quality recurring revenues. “Early Group trading in FY27 has seen a continuation of the momentum built in FY26, and with international macro GRC drivers providing a favourable backdrop, we are well positioned for continued growth and on track to achieve market expectations.”
Chief Executive Officer, Wilmington plc