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ELIX Elixirr International Plc

610.00
0.00 (0.00%)
21 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Elixirr International Plc ELIX London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 610.00 08:00:23
Open Price Low Price High Price Close Price Previous Close
610.00 610.00 610.00 610.00 610.00
more quote information »
Industry Sector
SUPPORT SERVICES

Elixirr ELIX Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
08/01/2024InterimGBP0.05318/01/202419/01/202415/02/2024
27/02/2023FinalGBP0.10820/07/202321/07/202318/08/2023
04/04/2022FinalGBP0.04114/07/202215/07/202212/08/2022
12/04/2021FinalGBP0.02215/07/202116/07/202113/08/2021

Top Dividend Posts

Top Posts
Posted at 13/5/2024 15:06 by bhoddhisattva
Ok I’ve been told there’s a general problem for Mello links sent out for TRT and ELIX sessions so contact their PR or Mello for a solution.
Posted at 07/5/2024 10:06 by masurenguy
Nice rise on minimal trading volumes today. ELIX now up 30% in the 5 months since I first invested ! 😊
Posted at 01/5/2024 15:13 by simon gordon
Spectator - 28/4/24:

How America plunders Britain’s tech economy



=====

Now the Yanks are coming for the Premier League and wanting games played in America.

Being listed is optimal for ELIX's ownership structure. The UK is struggling to scale businesses, here's hoping ELIX stay listed and grows over the next twenty years into a big cap.
Posted at 01/5/2024 13:20 by masurenguy
A couple of predators targeting Alpha FM Consulting. Alpha are circa 3 x sales and 2 x market cap compared to ELIX but it indicates the interest in consolidation within the sector and ELIX's more specialist digital/AI expertise could have them already on some predators radar.

"The Board of Alpha Financial Markets Consulting plc notes the recent press speculation and confirms that it has received a non-binding indicative proposal from Bridgepoint Advisers Limited regarding a possible cash offer for the entire ordinary share capital of Alpha FMC. The Board also confirms that Cinven Limited is considering a possible offer for the entire ordinary share capital of Alpha FMC, although no indicative offer proposal has been received currently. Alpha FMC is now in an offer period. A further announcement will be made as and when appropriate. This announcement is being made without the consent of Bridgepoint and Cinven."
Posted at 22/4/2024 07:20 by masurenguy
Completely inline with the January y/e trading update !

Final Results for the Year Ended 31 December 2023

Elixirr International is pleased to announce its final results for the year ended 31 December 2023.

Financial Highlights

. Revenue increased by 20% to £85.9m (FY 22: £71.7m)
. Adjusted EBITDA* increased by 24% to £25.4m (FY 22: £20.5m)
. Adjusted EBITDA* margin of 30% (FY 22: 29%)
. Profit before tax increased by 40% to £22.1m (FY 22: £15.7​m)
. Adjusted diluted earnings per share* increased by 22% to 37.2p (FY 22: 30.5p)
. Year-end net cash of £18.1m (FY 22: £20.4m)
. Total dividend increased by 37% to 14.8p per Ordinary share (FY 22: 10.8p)

Current Trading & Outlook

· FY 23 momentum has continued into FY 24, with three record revenue months in Q1 2024 and a strong pipeline for the remainder of FY 24
· Momentum is expected to continue throughout the remainder of the year, with FY 24 revenue expected to be in the range of £104-110 million
· Adjusted EBITDA margin expected to be in the range of 27-29% after factoring in the impact of Insigniam's lower margins at acquisition

Operating Highlights

· Continued progress executing our four-pillar growth strategy, including:

1. Stretching Existing Partners - revenue per Partner increased by 7% during the year to £3.9m per Partner (FY 22: £3.6m). This continues the growth in this metric in each year since listing.

2. Hiring new Partners - we made three successful Partner hires in FY 23. These individuals have expanded the Group's presence in key markets and geographies and ensure that diversity of thought is maintained throughout the Partner grade.

3. Promoting Partners from Within - two experienced Principals were promoted to Partner in January 2023, with a further two Principals promoted to Partner in October 2023. January 2024 saw our first promotion to Partner in one of our acquired businesses, reflecting its successful integration within the Elixirr Group.

4. Inorganic Growth - the acquisition of the Artificial Intelligence firm, Responsum, in September 2023 has positioned the Group at the forefront of cutting-edge technology, whilst the acquisition of organisational change and transformation firm, Insigniam, in December 2023 enables us to support clients, innovate and drive large-scale change. Inorganic growth remains a key component of our strategy, and our internal M&A team continues to generate a pipeline of strong prospects that will help us further support clients with key boardroom issues and maximise the growth opportunity for the Group.

· Multiple accolades received including being named in the Financial Times' 2023 'UK Leading Management Consultants' list, earning a place on the Global Outsourcing 100® by the International Association of Outsourcing Professionals, being recognised as a Top Consulting Firm by Consultancy.UK and being shortlisted for the In-house Recruitment Awards 2023.

Commenting on the results, Founder & CEO, Stephen Newton said:"2023 highlighted Elixirr's ability to thrive, outperforming both competitors and the global Consulting market. Our continued growth is a testament to the quality of our team, and the value we deliver to our clients. This year we continued to invest in our four-pillar growth strategy, further diversifying our offering and enabling us to solve new and interesting challenges for our clients. Our equity incentive model continues to disrupt the market, solidifying our reputation as the Challenger Consultancy and setting us up for continued success."
Posted at 08/1/2024 07:16 by masurenguy
Trading Update, Change to Dividend Policy and Interim Dividend

Elixirr International plc is pleased to provide an update on trading in the year ended 31 December 2023 ("FY23"), advise shareholders of a change in dividend policy and announce an interim dividend.

Trading

Subject to audit, FY23 results are expected to be in line with market expectations with:
- Revenue within the guidance range of £85m - £90m
- Adjusted EBITDA of approximately £25.4m
- Year-end cash of approximately £17.9m

Dividend Policy

In line with comparable companies, the Board has decided to declare two dividends per year, with an interim dividend payable shortly after the end of the year and a final dividend payable in August.

Interim Dividend

The Company is declaring an interim dividend (the "Dividend") of 5.3p per Ordinary Share. The Dividend will be payable to Shareholders on the register at 19 January 2024 and has an ex-dividend date of 18 January 2024. The Dividend of approximately £2.5m in total will be paid to Shareholders on 15 February 2024 and funded from the Company's existing cash reserves.
Posted at 30/12/2023 12:25 by mirabeau
This year I am recommending a riskier small company with experienced top management, excellent growth prospects and a number of blue-chip clients. The company is Elixirr International (Aim: ELIX), a consultancy with a market value of £220m and a 2022 turnover of £70.7m, up by 40% on 2021.

Elixirr was founded in 2009 by the current CEO, Stephen Newton, who had been a managing partner at Accenture. Newton says Elixxir’s ambition is to become the best digital, data, artificial intelligence (AI) and strategy consultancy in the world, with a globally recognised client base. It already numbers Diageo, HSBC, LVMH and Tesla among its clients.

Elixirr features in several categories of the Financial Times’ 2023 list of the leading UK management consultancies. Its emphasis on digital, data and AI should shield it from the recent turndown in general consultancy. Elixirr grows organically and through bolt-on acquisitions such as US generative AI firm Responsum, which has enhanced the group’s AI capabilities.

Revenue rose by 23% to £41.1m in the six months to 30 June, with pre-tax profits up 17% to £9.9m and net cash at £19.5m. Newton, who holds 28.7% of the shares (aligning his interests with other shareholders’), expects this strong performance to continue for the rest of the year, with full-year sales of £85m-£90m.

The trailing 12-month p/e is 17.5 and the forward dividend yield is 2.23% at the recent share price of 472p – well below analysts’ one-year price target of 868p.
Posted at 12/12/2023 18:02 by masurenguy
Elixirr was established in 2009 and has become an award-winning global consulting firm working with a wide range of clients across a diverse range of industries and geographies. With roots in strategy consulting, the firm’s capabilities today range from business model innovation to digital transformation. The company listed on AIM on 9 July 2020 @217p per share raising gross proceeds of £20m for the company via an oversubscribed placing of 9,216,590 new ordinary shares and £5m for the selling shareholders (partners) via a placing of 2,304,148 ordinary shares. Consequently, the company's market capitalization at the placing price on Admission was £98.1m.


Elixirr has a capital-light business model with strong momentum and currently it is the fastest growing management consultancy in the UK and the third-fastest in Europe. It has increased its market share every year since 2011 and most recently posted organic revenue growth of 18% in 2022, with an adjusted EBITDA margin of circa 30%. Sales and EBITDA have both increased by circa 250% in the 3 years since listing on AIM and the current market cap is circa £225m (Dec 2023).

Last interim results, published on 18/09/2023 were as follows:


Current share ownership, as at 12 December 2023, is as follows:

Institutional Investors
Rathbones Investment Management Ltd: 4,342,901. 9.30 %
Slater Investments Ltd: 3,438,203. 7.36 %
Gresham House Asset Management Ltd: 2,275,980. 4.87 %
Chelverton Asset Management Ltd: 922,000. 1.98 %
JPMorgan Asset Management (UK) Ltd: 778,791. 1.67 %
Sub Total: 25.18%

Inside Investors
Stephen Newton: 13,239,895. 28.36 %
Graham Busby: 1,374,800. 2.94 %
Andrew Curtis: 1,367,651. 2.93 %
Brandon Bichler: 712,191. 1.53 %
Eric Rich: 671,769. 1.44 %
Sub Total: 37.20%

Here are two excellent pieces of analysis on the company from existing private investors:

Harry Davis:

ariquelme:

A link to the preceding thread:

Company Website:





Flag counter added on 3rd March 2024
Posted at 06/11/2023 11:41 by simon gordon
On the iOLAP website they have twenty vacancies, business must be strong.

Thought this a decent summary:

Investors Chronicle - 7/9/23

A capital-light consultancy with excellent momentum

Boutique consultancies do not often crop up on the public market. Pay attention when they do.

by Jemma Slingo

“The concept of a structured work-life balance almost seems to be expected in today’s society – especially in a typical 9-to-5 role, but I think it should be seen as a privilege.” So says Stephen Newton, founder and chief executive of Elixirr (ELIX), a management consultancy that joined Aim three years ago. It’s a fitting message from an entrepreneur set on driving growth and trimming the fat.

Elixirr presents itself as a new breed of management consultancy. It used a recent ad campaign to lampoon the industry’s jargon, swagger and reliance on under-experienced Oxbridge graduates, and continually stresses its “challenger” credentials. While it suffers from some of its peers’ breathless fervour, describing its workforce as “creative storytellers”, “brave contrarians” and “probing observers”, its genuine promise makes this just about palatable.

Punching above its weight

With a market cap of under £250mn, Elixirr is small – even compared with specialist listed consulting peers such as Alpha Financial Markets Consulting (AFM) and XPS Pensions (XPS). However, it benefits from a similarly capital-light business model and excellent momentum. Indeed, according to Investec, Elixirr is the fastest-growing management consultancy in the UK and the third-fastest in Europe. Having increased its market share every year since 2011 and posted organic revenue growth of 18 per cent in 2022, Elixirr has momentum. With an adjusted Ebitda (earnings before interest, tax, depreciation and amortisation) margin at around 30 per cent, it is also profitable.

The company was founded in the aftermath of the financial crash, and originally focused on financial services work, which is Newton’s area of expertise. Around half of group turnover still comes from the sector, but Elixirr is rapidly diversifying, and its 200-strong client base now includes names as varied and big-ticket as Diageo, LVMH, Tesla and Burger King.

The fact that big names are on board suggests this youthful small cap is an increasingly viable alternative to the ‘Big Four’ professional services firms and strategy houses such as McKinsey, Boston Consulting Group and Bain, which together account for almost half of the market.

A lot of the people who work at Elixirr cut their teeth in this world, so they know what they’re up against. Newton was formerly a managing partner at Accenture, while chief financial officer Graham Busby worked in Accenture’s ‘global mega-deal’ department. The quality of the wider management team is also encouraging, with former BT chief executive Gavin Patterson acting as non-executive chair.

The big question is whether Elixirr can keep luring talented people away from the corporate behemoths. The group has about 500 consultants but just 21 of them are client-facing partners. As partners generate the biggest invoices and bring in most of the work, swelling their ranks will be crucial for growth.

In this sense, Elixirr has a lot in common with Keystone Law (KEYS), whose success relies on a team of 400 senior solicitors and which has seen recruitment slow down in recent months. However, while Keystone’s self-employed “principals” take a chunk of what they bill and are enticed by the promise of flexible working, Elixirr depends heavily on share-based compensation.

Management claims that partners can earn 80 per cent more at Elixirr than they could at a big rival firm because, while cash remuneration is lower, the money saved on pay packets is pumped back into the business, fuelling equity returns.

“By investing £3.2mn in the business over five years and assuming 25 per cent compound annual growth rate (CAGR) share price growth, each partner can achieve an equity return of £7.2mn,” declares Elixirr, which loans new partners £500,000 to buy shares. It concludes that over a five-year period a partner can earn £9mn (including cash remuneration) compared with £5mn at a Big Four firm.

Non-partners are also strongly equity incentivised via share options and an employee share purchase plan.

On the one hand, this approach makes a lot of sense. One of the big conundrums posed by listed people businesses is how to align the interests of partners with those of external investors. Why would partners want to return profit to shareholders if they could distribute it all among themselves? Elixirr’s focus on equity means everyone is singing from the same hymn sheet. However, its logic falls apart if shares head south and partners watch their pay prospects wither.

Share dilution is therefore something to watch for. Management stressed that the “value created from our equity incentive schemes far outweighs the potential dilutive effect” and analysts note that there has been no material dilution to the share count since April 2021. As the business keeps scaling up, however, it remains a risk.

Growing pains

Organic growth is not Elixirr’s only option, of course. It recently deployed some cash to acquire iOLAP, a US consultancy specialising in data and analytics. The deal makes strategic sense and is reminiscent of Alpha FMC’s Lionpoint purchase. Elixirr now has a sizable presence in the US, home to the world’s biggest consultancy market, and should benefit from plenty of cross-selling opportunities.

It’s not easy to scale up a business at pace however, and Alpha FMC’s recent performance spotlights some of the problems that Elixirr could face. Fears about under-utilised consultants marred Alpha FMC’s latest annual results, where the group cited industry-wide “increased levels of competition as a result of overcapacity”. Its shares have fallen by 25 per cent since the start of the year after a bumper three-year period.

Elixirr has a more varied client base than Alpha FMC, but it is not immune to market conditions. Staff costs as a percentage of revenues have risen over the past four years, and margins could suffer if work dries up. To make things worse, it is tricky to predict when or if a downturn is coming as contracts only last for four to eight weeks on average, limiting visibility and management’s capacity to plan.

The firm’s resilience has been tested before, though: in 2020, the group achieved revenue growth of 24 per cent while the consulting market as a whole shrank by 18 per cent. Elixirr’s balance sheet is also reassuringly robust. The group has a net cash position, despite several acquisitions and dividend payments, and operations have proved reliably cash-generative so far: standard payment terms require settlement of invoices within 30 days of receipt, and the majority of trade receivables are less than 31 days old.

Valuing potential

Elixirr's share price has risen by 165 per cent since its IPO, so potential investors can be forgiven for feeling as though they’ve missed the boat. Small-cap valuations are slippery at the best of times, and the lack of publicly traded consultancies – together with a dearth of analyst coverage – makes valuing Elixirr even harder. However, there does appear to be a disconnect between its growth prospects and its price/earnings (PE) multiple.

Analysis by Investec puts Elixirr on a PE ratio of 15.4 for the 2023 calendar year, despite a forecast sales CAGR for 2022-24 of 17 per cent. By contrast, Alpha FMC is expected to grow by 10 per cent but trades on a PE ratio of 18.1.

Some will argue that Elixirr is cheap because it is small and risky. It has a short track record on the public market and is not widely covered by analysts. It is also exposed to partner and client exits, and its top three clients account for about a fifth of sales.

On balance, however, the risk-reward balance looks enticing. As a capital-light sector challenger, Elixirr’s momentum could well persist for years to come. Taken together, profitable growth, a burgeoning client base and US expansion plans make for an intoxicating mixture.
Posted at 27/9/2023 12:26 by someuwin
Part of Cavendish's ELIX note last week...

"Digital + data + AI = significant growth potential

Elixirr’s ambition is to become the best digital, data, AI and strategy consultancy in the world and H1 results evidence strong progress towards this aim. H1 sales grew +23% (+14% organic), adj. EBITDA +19%, margins strong at 30%, adj. EPS +23% and net cash £20m. Revenue per partner grew by +24%, supported by a broadening range of capabilities that have been further strengthened by the acquisition of Responsum, a US-headquartered AI specialist. Elixirr also continues to attract highly experienced Partners and consultants and promote talent from within, all of which support the long-term growth prospects in a $266bn global market. Guidance for FY23E is unchanged and, at this stage, we have assumed no change to FY 2024E and FY 2025E EPS from the acquisition of Responsum. However, as Elixirr has already worked closely alongside the business on several client engagements and identified 40+ client opportunities, it is a likely source of future, potentially material, upgrades. Elixirr is valued at half peer Accenture’s valuation for twice the forecast growth, and we maintain our 998p price target (+74% upside)."


Note: Accenture (NYSE:ACN) Current valuation $206.34Bn = £165.56Bn so 620 times bigger than ELIX.

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