Preliminary Results 2019/20 highlights
- Headline revenue of £30.3m (FY19: £35.3m), down 14.3% (down 13.9% on a constant currency basis)
- Improved quality of earnings, with Annual Recurring Revenue (‘ARR’) of £6.8m (FY19: £6.2m)
- Adjusted Profit Before Tax* at £2.6m (FY19: £5.5m), largely reflecting short term sales delays with some Vicon customers
- Continued cash generation, with £14.9m in net cash (FY19: £13.8m) and operating cashflow of £6.4m (FY19: £7.7m)
- Board proposes maintaining our final dividend at 1.80p per share (FY19: 1.80p) this year
- Yotta major milestone achieved: H2 profitability delivered following transition to SaaS model
- Vicon’s motion measurement technology is finding a wide range of new use cases including collective VR experiences as well as virtual film and TV production
CFO comment
David Deacon discusses the Preliminary Results for the financial year ended 30 September 2020.
The Group reported revenue of £30.3m (FY19: £35.3m) and an Adjusted PBT* of £2.6m (FY19: £5.5m) despite the unprecedented market conditions.
The segmental revenue analysis illustrates that all market segments were affected and from a geographic standpoint, the USA market suffered more than most, down £5m compared with last year.
We continued to improve the quality of our earnings by increasing our Annual Recurring Revenue (‘ARR’) to £6.8M (FY19: £6.2m). This growth was achieved by our Yotta subsidiary, which signed £1.0m in new ARR during the financial year (FY19: £1.0m).
The Company had £14.9m in cash as of 30 September 2020 (30 September 2019: £13.8m) having paid a final 2019 dividend of £2.3m (2018: £1.9m). The Group remains debt-free.
David Deacon - Chief Financial Officer

Financial metrics
Revenues (£'000)
(continuing operations)
Adjusted PBT* (£'000)
(continuing operations)
Recurring Revenues (£'000)
Cash Generation after Tax (£'000)
- Trend
- Average
Investor metrics
EPS** (p)
Ordinary Dividends paid (p)
EV/EBITDA Multiple
Annual TSR*** (%)
- Trend
- Average
- CAGR
*Profit Before Tax before group recharges adjusted for share-based payments, amortisation of intangibles arising on acquisition, fair value adjustments to IMeasureU purchase consideration, impairment of Pimloc investment and exceptional costs. .
**Earnings Per Share (EPS).
***Total Shareholder Return (TSR) Cumulative
Growth Rate (CAGR) of 26% over the period.
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Annual and Interim Results
2020
2019
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2018
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2017
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Financial calendar 2021
18 Feb
AGM 2021
5 Mar
Proposed dividend payment
31 Mar
End of half year
30 Sep
End of financial year