Continued growth in revenue, net revenue, and EBITDA
LONDON, Sept. 19, 2019 /PRNewswire/ -- HH Global, the world's fastest-growing and most innovative outsourced marketing execution partner, announces its unaudited financial results for the first three months of fiscal year 2020, ended June 30, 2019.
First quarter 2020 financial highlights
- 21.6% revenue increase, from £87.8 million in the same period last fiscal year to £106.7 million
- 33.3% net revenue increase from £20.9 million in the same period last fiscal year to £27.2 million
- 55.3% increase of non-GAAP adjusted EBITDA, from £4.0 million in the same period last fiscal year to £6.2 million
Business highlights
- Received commitments for renewal or expansion of existing or new enterprise contracts with the collective total of over £50 million of annual gross revenue at full run rate, the largest of which is a new full scope relationship with a global FMCG company.
- Continued development of our promotional products procurement service, including an expansion of the service line with a global life sciences company.
- Strengthened our global content production capabilities through expansion of our studio in Mexico City and by assuming responsibility of a photography and production studio for a leading technology company.
- Continued integration of Blueberry Wave and launched a new "Customer Experience" service line underscoring our data-driven marketing execution capabilities as a key differentiator in the marketplace.
- Added 270 people throughout the quarter, bringing our total headcount to over 1,300 across the globe, primarily embedded onsite in client locations
- Improved on our Ecovadis Gold sustainability accreditation rising 3 points to 66 placing HH Global in the top 5% of companies globally.
HH Global Chief Executive Officer Robert MacMillan said: "Our quarterly results point to continued market acceptance of our solutions. Our ability to listen and respond to client requirements has helped us evolve our services to include customer experience and content production capabilities to meet accelerating demand. We are pleased by our results."
Commenting on the results, Edward Parsons, Group Chief Financial Officer of HH Global, said: "Benefits from current client expansion and new client contracts signed last fiscal year have started to deliver substantial top and bottom line growth. Taken together with additional first quarter wins, we see revenue and EBITDA growth momentum continuing into the foreseeable future."
About HH Global
HH Global Ltd., founded in 1991, is a leading, strategic marketing execution partner to prominent brands in 44 countries. The company uses people, data and technology to provide customer experience, content production, and outsourced procurement services across multiple marketing delivery channels globally. Every HH Global solution brings deep expertise of over 1300 employees direct to clients by embedding a team on-site in their marketing departments. HHub, a best-in-class marketing technology platform, data analytics capabilities, and an expansive list of suppliers help HH Global teams drive down cost, time to market, improve quality and increase sustainability for its clients. The company also operates HH Labs, the center of its innovation programme, that brings fresh, new ideas to clients. With over $500M of spend under management, HH Global maintains a razor-sharp focus on cost and quality, combined with an industry-leading sustainability program, offering improvements that provide both fiscal and environmental value. For more information, visit www.hhglobal.com.
Mark Tiedens, mark.tiedens@hhglobal.com
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