PeopleIN achieves record revenue and EBITDA result for FY22
PeopleIN is pleased to announce our annual results for FY22, achieving a record $682.4m in revenue (+53.6% YoY) and $47.2m EBITDA (+23.9% YoY).
Other highlights:
- Strong organic growth contribution of +15.9% to revenue and +10.5% EBITDA.
- Performance underpinned by our diverse reach into high demand and defensive employment sectors, including healthcare, professional services, early learning, infrastructure and food services.
- 99.5% of our EBITDA was converted to operating cashflow.
- Solid performance from the four brands that joined the PeopleIN family in FY22 (EBITDA contribution of $6.6m). M&A pipeline remains strong – healthcare and community and professional services government contracting. Balance sheet capacity of circa ~$30m to execute on strategic opportunities in FY23.
- Operating conditions continue to be positive, given the strength of the employment market (3.4% unemployment) and unprecedented demand from clients that are operating in defensive sectors.
- Launched our three-year strategic plan with a focus on cross-selling, international recruitment and the continued investment in an international nursing network.
- FY23 earnings guidance with normalised EBITDA of $62m - $66m based on the continuation of current economic conditions.
This result is off the back of five years of double-digit compound growth in revenue, EBITDA, and earnings per share.
We're also exceptionally proud of achievements across our Shared Value pillars; First Nations, Sustainability, and Equity & Inclusion:
- 750+ First Nations candidates placed
- 4.8 millions trees planted
- 35,000+ hours provided to NDIS participants
Thank you to our clients, candidates, shareholders, and most critically our people on this excellent result. With FY23 well underway, we’re looking forward to another year of strong performance.
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