Bravura Solutions Ltd
ASX:BVS
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Bravura Solutions Ltd
Bravura Solutions Ltd. engages in software and technology. The company is headquartered in Sydney, New South Wales and currently employs 1,509 full-time employees. The company went IPO on 2016-11-16. Bravura offers digital enterprise software solutions supporting financial services products across front, middle and back office, including digital delivery across multiple devices to advisers and end consumers. The products offered by the Company include investment products, wrap platforms, superannuation and pension, life insurance, private wealth and portfolio admin, funds administration, financial planning software and microservices. Bravura provides various services, such as professional services, managed and cloud services, data migration and training. The firm operates approximately 17 offices across Australia, New Zealand, the United Kingdom, Europe, Africa and Asia.
Bravura Solutions Ltd. engages in software and technology. The company is headquartered in Sydney, New South Wales and currently employs 1,509 full-time employees. The company went IPO on 2016-11-16. Bravura offers digital enterprise software solutions supporting financial services products across front, middle and back office, including digital delivery across multiple devices to advisers and end consumers. The products offered by the Company include investment products, wrap platforms, superannuation and pension, life insurance, private wealth and portfolio admin, funds administration, financial planning software and microservices. Bravura provides various services, such as professional services, managed and cloud services, data migration and training. The firm operates approximately 17 offices across Australia, New Zealand, the United Kingdom, Europe, Africa and Asia.
Strong Results: Bravura reported group revenue up 6% to $135.1 million and EBITDA up 7% to $25.5 million in the first half, with NPAT rising 21% to $19.8 million.
Margin Expansion: The company achieved continued margin improvement, especially in Funds Administration, where EBITDA margin reached 44%.
Funds Admin Growth: Funds Administration saw revenue rise 19% and EBITDA jump 44%, driven by higher license fees and more implementation work.
Wealth Management Flat: Wealth Management segment revenue was flat; EBITDA fell 11% due to lower license fees, though excluding these, EBITDA and margins grew.
Recurring Revenue: Recurring revenue increased 7% and now represents 78% of total revenue, underpinned by long-term contracts.
Acquisitions On Track: Midwinter and FinoComp acquisitions are performing as expected; combined, they are anticipated to contribute about $3 million to FY20 NPAT.
Guidance Unchanged: FY20 NPAT growth (excluding acquisitions) is expected in the mid-teens, with acquisitions adding ~$3 million—guidance remains unchanged.
Strong Balance Sheet: The company ended the half with net cash of $100.3 million and continues to evaluate both organic and acquisitive growth opportunities.
