Computacenter plc
Incorporated in England
Registration number:
03110569
LEI: 549300XSXUZ1I19DB105
ISIN: GB00BV9FP302
Computacenter
plc
Q1 Trading Update - 1 May
2024
Computacenter plc ('Computacenter',
the 'Company' or the 'Group'), a leading independent technology and
services provider, today publishes a trading update, based on
unaudited financial information, for the first quarter to 31 March
2024 ('the quarter').
Overview
Computacenter expects to make
further progress in 2024 with the performance for the Group during
the first quarter broadly in line with our expectations. Germany
and North America delivered solid underlying performances while the
UK remained challenging.
As anticipated, Technology Sourcing
revenue in the first quarter returned to more normal levels versus
the same period last year which benefitted from a small number of
exceptional contracts. The performance in the quarter largely
reflected the normalisation of higher-volume, lower-margin
Technology Sourcing contracts in North America and the excellent
growth achieved in Germany in the prior year.
Towards the end of the first
quarter, we won a significant new Technology Sourcing contract with
a large customer in North America which we expect to start
fulfilling towards the end of the second quarter. We have a strong
and growing pipeline of Technology Sourcing opportunities in North
America for the rest of the year.
Services revenue during the quarter,
as anticipated, was below the previous year with continued growth
in Professional Services outweighed by the expiry of certain
Managed Services contracts. At the beginning of the second quarter,
we commenced a large four-year public sector contract in the UK
which was secured at the start of 2024. Our pipeline of
Professional Services opportunities across the Group is also
encouraging.
Group outlook
For the full year in 2024 we expect
to make further progress, while continuing to invest in future
growth. Given the first half comparison we have previously
highlighted, adjusted profit before tax for the first half is
expected to be below the equivalent in 2023. The strength of our
integrated Technology Sourcing and Services model, our committed
product order backlog and pipeline of opportunities, give us
confidence in delivering a stronger performance with growth
weighted to the second half of the year, underpinning our
expectations of further progress for the full year.
Capital Markets Day
We will be hosting a Capital Markets
Day for investors and analysts in London during the afternoon of 5
June 2024 with a series of presentations from Computacenter's
senior leadership team demonstrating the significant growth
opportunities across the Group. For further details please contact
computacenter@teneo.com.
Our next trading update is the
announcement of our Half Year Results on 9 September
2024.
Enquiries:
Computacenter plc
|
|
Mike Norris, CEO
|
+44 (0) 1707 631 601
|
Chris Jehle, CFO
|
+44 (0) 1707 631 346
|
Christian Cowley, Investor
Relations
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+44 (0) 1707 631 132
|
|
|
Teneo
|
|
James Macey White / Matt
Low
|
+44 (0) 207 353 4200
|
About Computacenter:
Computacenter is a leading
independent technology and services provider, trusted by large
corporate and public sector organisations. We are a responsible
business that believes in winning together for our people and our
planet. We help our customers to Source, Transform and Manage their
technology infrastructure to deliver digital transformation,
enabling people and their business. Computacenter plc is a public
company quoted on the London Stock Exchange (CCC.L) and a member of
FTSE 250. Computacenter employs over 20,000 people
worldwide.
DISCLAIMER - FORWARD LOOKING
STATEMENTS
This announcement includes statements that are, or may be
deemed to be, 'forward-looking statements'. These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms 'anticipates', 'believes',
'estimates', 'expects', 'intends', 'may', 'plans', 'projects',
'should' or 'will', or, in each case, their negative or other
variations or comparable terminology, or by discussions of
strategy, plans, objectives, goals, future events or intentions.
These forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
announcement and include, but are not limited to, statements
regarding the Group's intentions, beliefs or current expectations
concerning, amongst other things, results of operations, prospects,
growth, strategies and expectations of its respective
businesses.
By
their nature, forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances.
Forward-looking statements are not guarantees of future performance
and the actual results of the Group's operations and the
development of the markets and the industry in which they operate
or are likely to operate and their respective operations may differ
materially from those described in, or suggested by, the
forward-looking statements contained in this announcement. In
addition, even if the results of operations and the development of
the markets and the industry in which the Group operates are
consistent with the forward-looking statements contained in this
announcement, those results or developments may not be indicative
of results or developments in subsequent periods. A number of
factors could cause results and developments to differ materially
from those expressed or implied by the forward-looking statements,
including, without limitation, those risks in the risk factor
section of the Computacenter plc 2023 Annual Report and Accounts,
as well as general economic and business conditions, industry
trends, competition, changes in regulation, currency fluctuations
or advancements in research and development.
Forward-looking statements speak only as of the date of this
announcement and may, and often do, differ materially from actual
results. Any forward-looking statements in this announcement
reflect the Group's current view with respect to future events and
are subject to risks relating to future events and other risks,
uncertainties and assumptions relating to the Group's operations,
results of operations and growth strategy.
Neither Computacenter plc nor any of its subsidiaries
undertakes any obligation to update the forward-looking statements
to reflect actual results or any change in events, conditions or
assumptions or other factors unless otherwise required by
applicable law or regulation.