최종 결과 2023
월스트리트:온라인 캐피털 AG
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07:46 20/03/24
컴퓨타센터 PLC
영국에 법인 설립
등록 번호 : 03110569
레이: 549300XSXUZ1I19DB105
ISIN: GB00BV9FP302
컴퓨타센터 PLC
31년 2023월 XNUMX일 마감된 연도의 최종 결과
Computacenter plc ("Computacenter" or the "Group"), a leading independent technology and services provider, today announces audited results for the year ended 31 December 2023.
재무 하이라이트 |
2023 |
2022 |
변화 | 일정한 통화로 변경1 |
기술 소싱 총 송장 수입(£ m) | 8,444.9 | 7,481.6 | 12.9% | 13.1% |
서비스 수익 (£ m) | 1,636.5 | 1,570.6 | 4.2% | 3.1% |
총 송장 수입1 (£ m) | 10,081.4 | 9,052.2 | 11.4% | 11.3% |
기술 소싱 수익 (£ m) | 5,286.3 | 4,899.9 | 7.9% | 8.1% |
서비스 수익 (£ m) | 1,636.5 | 1,570.6 | 4.2% | 3.1% |
수익 (£ m) | 6,922.8 | 6,470.5 | 7.0% | 6.9% |
매출 총 이익 (백만 파운드) | 1,044.0 | 947.1 | 10.2% | 9.8% |
매출 총 이익 (%) | 15.1% | 14.6% | +44bps | |
조정1 영업 이익 (백만 파운드) | 271.5 | 269.1 | 0.9% | 0.6% |
조정1 과세 전 소득 (£ m) | 278.0 | 263.7 | 5.4% | 5.1% |
조정1 희석주당순이익(p) | 174.8 | 169.7 | 3.0% | |
주당배당금(p) | 70.0 | 67.9 | 3.1% | |
영업활동으로 인한 순현금유입 (£m) | 410.6 | 242.1 | 69.6% | |
조정1 net funds (£ m) | 459.0 | 244.3 | 87.9% | |
법적 조치 | 2023 | 2022 | 변화 | |
영업 이익 (£ m) | 268.8 | 256.4 | 4.8% | |
과세 전 소득 (£m) | 272.1 | 249.0 | 9.3% | |
Diluted EPS (p) | 173.2 | 159.1 | 8.9% | |
순자금(£ m) | 343.6 | 117.2 | 193.2% |
1Alternative performance measures (APMs) and other terms are used throughout this announcement. These are defined in full in the appendix to this announcement.
Financial highlights - 19th consecutive year of adjusted EPS growth
· Another record year of revenue, gross profit and adjusted EPS while continuing to invest for future growth
· Gross invoiced income of over £10bn, up 11.4%, driven by strong growth in Technology Sourcing and solid growth in Services, with gross profit up 10.2%
· Adjusted PBT up 5.4% reflecting higher levels of strategic investment; adjusted diluted EPS up 3.0%
· Excellent cash generation driven by effective inventory management with adjusted net funds increasing by £214.7m to £459.0m
운영 및 전략적 하이라이트
· Strong Group performance reflects the benefits of our integrated Technology Sourcing and Services model as well as our broad geographic diversity
· Technology Sourcing gross invoiced income growth of 13.1% in constant currency, driven by resilient large enterprise spend and further market share gains
· Services revenue growth of 3.1% in constant currency, with gross margin performance improving across the year
· Continued momentum in Germany with adjusted operating profit increase of 13.8% in constant currency, reinforcing our leading market position
· Strong growth in North America with adjusted operating profit increase of 24.0% in constant currency, demonstrating the scale of the long-term growth opportunity
· £28.1m of investment in strategic initiatives (2022: £14.8m) to improve our capabilities, enhance productivity and secure future growth
· 2032 mid-term and 2040 Net Zero targets approved by SBTi as part of our Sustainability roadmap
주주환원
· Proposed final dividend of 47.4p, increasing the full year dividend by 3.1% to 70.0p
· Given the strength of our balance sheet we continue to evaluate a number of capital allocation options
Outlook
· Expect to make further progress in 2024 with growth weighted to the second half of the year, reflecting a significantly more challenging comparison in the first half of the year than in the second half
Mike Norris, Chief Executive Officer of Computacenter plc, commented:
"We delivered our nineteenth consecutive year of growth in adjusted earnings per share, outperforming our markets in 2023, as our large customers continued to invest heavily in new technology. We managed an uncertain macroeconomic backdrop and inflationary pressures effectively, reduced our inventory significantly, resulting in a record net cash position. As planned, we stepped up our investment in strategic initiatives to underpin our competitiveness and future growth.
"Overall we expect 2024 to be another year of progress with growth weighted to the second half, while continuing to invest for future growth. Looking further ahead, the combination of the strength of our integrated Technology Sourcing and Services model and our geographic diversity, gives us continued confidence in our long-term growth prospects."
문의 :
컴퓨타센터 PLC |
|
마이크 노리스, CEO | + 44 (0) 1707 631 601 |
크리스 젤, CFO | + 44 (0) 1707 631 346 |
Christian Cowley, 투자자 관계 | + 44 (0) 1707 631 132 |
테 네오 |
|
제임스 메이시 화이트 / 매트 로우 | + 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.
면책조항 - 미래 예측 진술
이 발표에는 '미래 예측 진술'이거나 그렇게 간주될 수 있는 진술이 포함되어 있습니다. 이러한 미래 예측 진술은 '예상하다', '믿다', '추정하다', '예상하다', '의도하다', '할 수 있다', '계획하다', '프로젝트' 등의 미래 지향적 용어를 사용하여 식별할 수 있습니다. ', '해야 한다' 또는 '할 것이다', 또는 각각의 경우 부정적이거나 다른 변형 또는 유사한 용어, 또는 전략, 계획, 목표, 목표, 미래 이벤트 또는 의도에 대한 논의를 통해. 이러한 미래 예측 진술에는 역사적 사실이 아닌 모든 사항이 포함됩니다. 그들은 이 발표 전반에 걸쳐 여러 위치에 나타나며 무엇보다도 운영 결과, 전망, 성장, 전략 및 해당 사업의 기대에 관한 그룹의 의도, 신념 또는 현재 기대치에 관한 진술을 포함하되 이에 국한되지 않습니다. .
본질적으로 미래 예측 진술은 미래의 사건 및 상황과 관련되어 있기 때문에 위험과 불확실성을 수반합니다. 미래예측진술은 그룹 운영의 실제 결과와 향후 실적을 보장하지 않으며, 그룹이 운영하거나 운영할 가능성이 있는 시장 및 산업의 발전을 보장하지 않으며, 각각의 운영은 여기에 설명되거나 제안된 내용과 실질적으로 다를 수 있습니다. 이 발표에 포함된 미래 예측 진술을 참조하세요. 또한, 그룹이 운영하는 시장 및 산업의 운영 결과와 발전이 본 발표에 포함된 미래예측 진술과 일치하더라도, 그러한 결과나 발전은 향후의 결과나 발전을 나타내지 않을 수도 있습니다. 미문. Computacenter plc 2023 연례 보고서 및 계정의 위험 요소 섹션에 있는 위험을 포함하되 이에 국한되지 않는 다양한 요소로 인해 결과 및 발전이 미래 예측 진술에서 표현되거나 암시된 것과 실질적으로 다를 수 있습니다. 경제 및 사업 상황, 산업 동향, 경쟁, 규제 변화, 통화 변동 또는 연구 개발의 발전.
미래 예측 진술은 이 발표 날짜를 기준으로 하며 실제 결과와 실질적으로 다를 수 있으며 종종 그렇게 합니다. 이 발표의 모든 미래 예측 진술은 미래 사건에 대한 그룹의 현재 관점을 반영하며 미래 사건과 관련된 위험 및 그룹의 운영, 운영 결과 및 성장 전략과 관련된 기타 위험, 불확실성 및 가정에 따라 달라질 수 있습니다.
Computacenter plc와 그 자회사는 해당 법률이나 규정에서 달리 요구하지 않는 한 실제 결과나 사건, 조건, 가정 또는 기타 요소의 변경을 반영하기 위해 미래 예측 진술을 업데이트할 의무를 지지 않습니다.
최고 경영자의 검토
2023 was another record year for Computacenter, with further growth in gross profit, adjusted profit before tax and adjusted earnings per share. This reflects the strength and benefits of our integrated Technology Sourcing and Services model, as well as our geographic diversity. We achieved this result despite the uncertain macroeconomic backdrop and elevated inflation, while increasing our investment in strategic initiatives to secure future growth.
By staying faithful to our strategy and focusing on customer needs, over the last five years we have grown organically and also significantly expanded our geographic footprint through targeted acquisitions in North America. This enlarged platform has delivered a step change in profits, with adjusted profit before tax and adjusted earnings per share more than doubling over the same period.
We now have more than 20,000 colleagues worldwide and their commitment to our customers drives our success. We believe in empowering our people and helping them to make good business decisions. With an average service length of over nine years, many have devoted significant parts of their careers to Computacenter and I thank them all for their contribution and agility, especially in navigating the various significant unexpected events of recent years.
Outperforming our markets
In 2023 we grew faster than both the market and our major competitors and have gained further market share as a result. We benefited from our target market, the largest organisations, proving the most resilient and continuing to invest in technology, combined with the breadth of our capability across Technology Sourcing and Services. Notable features of 2023 have been the ongoing growth of our share with some existing large customers, in addition to acquiring some strategically significant new customers, with whom we expect to grow in the coming years. We are grateful for their faith in us and look forward to supporting their ambitions.
기술 소싱
Technology Sourcing grew by 12.9% on a gross invoiced income basis and by 13.1% in constant currency, fuelled by strong growth in networking and data center. Workplace-related activity remained subdued following the significant spend during the pandemic but will naturally recover as customers refresh the workplace environment and implement new technologies, including AI. During the year, and notably in the first half of 2023 we benefited from exceptional demand from certain customers, which we expect to normalise in 2024. Gross margin performance was robust, reflecting our scale benefits and changes in product mix.
Industry supply chains and customer ordering behaviours have returned to pre-Covid normalised levels, with customers no longer placing long lead-time orders due to the improved availability of product. Backlogs for most of our geographies have therefore decreased and as a consequence we responded by managing down our inventory position very effectively, which has helped drive very strong cash generation.
We continue to invest in and develop our value-added services to ensure our customers have consistently great experiences. Our Integration Centers are benefiting from investment in greater automation to improve efficiency and agility. Our international reach, which matches the footprint of many of our large multi-national customers, is helping us to win new business and is an ongoing source of differentiation. Our Circular Services capability is also helping customers deliver on their sustainability agendas.
서비스
Services, which encompasses Professional and Managed Services, is critical to our business model. In 2023 Services revenue increased by 4.2% and by 3.1% in constant currency. Our Services gross margin was impacted by inflation during the year. However it remains healthy versus historical levels and improved as the year progressed, as we made efficiencies and took advantage of contractual opportunities to recover cost increases.
Customers value our highly skilled consultants, engineers and programme managers across our Professional Services business, using them to deploy new digital technology, from complex network and data center integrations to workplace rollouts. Professional Services has been a strong driver of growth for Services over the last five years, and we see it as an important future revenue and profit-growth driver for the Group.
In 2023, we grew Professional Services revenue by 6.6% and by 5.7% in constant currency, fuelled by another strong performance in Germany, which reflects the strength and breadth of our capability and depth of relationships with large corporate and public sector customers. We are committed to growing and enhancing Professional Services by having a broader and scalable portfolio across all countries, based on a common operating framework and a strong sales approach.
Managed Services generates visible long-term contract revenue, as we maintain, support and manage our customers' IT infrastructure and operations, to improve quality and flexibility while reducing costs. These services are important to the longevity of our customer relationships, with more than three-quarters of our major European headquartered customers contracting with us, supported by our Service Centers globally.
In 2023, we grew Managed Services revenue by 2.5% and by 1.3% in constant currency. Managed Services contracts generally have specific cost of living adjustment clauses within them that enable us to increase our rate card prices and recover increases in our costs at a later date which helped our margin performance as the year progressed. Towards the end of the year, we won some significant new contracts which will contribute from 2024 onwards.
To offer increased value to our customers we continue to invest in new and improved systems, greater automation and offshoring. We now have nearly 1,400 colleagues in India versus 1,100 at the end of 2022, serving our customers. The market opportunity for Managed Services is substantial in our core areas of workplace, networking, infrastructure and cloud.
Diversified across markets
Germany had an excellent year, continuing its strong growth trajectory in 2023 as it consolidated its market-leading position for large corporate and public sector customers. Germany's performance reflects our deep capabilities in technology areas such as networking and cyber and our ability to support customers at every stage of the IT lifecycle.
In North America, the largest market globally, we have a clear long-term growth opportunity as we continue to leverage Computacenter's broader capability and resources. In 2023, we further integrated the businesses we have acquired and at the same time delivered a strong financial performance.
We are also pleased to see positive momentum in France, where our enlarged business is starting to deliver on its potential, as well as strong performances in Belgium and the Netherlands. Our UK performance was disappointing, reflecting in part higher exposure to subdued workplace demand. We responded by making changes to our UK leadership team and our sales approach and saw the benefits start to come through at the end of last year.
Investing to secure future growth
2023 has been a year of significant additional investment in critical strategic initiatives, which will improve our capabilities and productivity, enable us to further leverage AI solutions, and underpin our systems for the future. This investment increased by £13m to £28m and we expect to maintain our spending at this level in 2024.
Most of the investment is focused on our systems. We are not just upgrading but also moving to new systems to obtain the security and support we need and to develop competitive advantage through new toolsets and processes, all of which will help secure future growth.
Cyber security remains one of the greatest risks to our business. It also presents one of the greatest opportunities to differentiate ourselves from our competitors, both through our own resilience and by helping our customers to overcome the same challenges. We will continue to invest significantly to mitigate cyber risks.
Strong inventory management driving excellent cash generation and balance sheet strength
As noted above, the easing of supply chain challenges and better availability of product in 2023 meant customers reverted to more normal ordering patterns and we reduced our inventory significantly as a result. Consequently we generated excellent levels of cash that exceeded our expectations.
The Group had £216.0m of inventory as at 31 December 2023, a decrease of 48.3% since 31 December 2022 (£417.7m). Adjusted net funds increased by £214.7m to £459.0m at the year end.
The strength of our balance sheet provides us with significant optionality, and we continue to evaluate a number of capital allocation options, including potential inorganic growth and the return of surplus capital to shareholders.
Outlook
Looking ahead to 2024, in the context of a continuing uncertain macroeconomic backdrop, the Group is well positioned to continue to compete and gain further market share.
As anticipated, we expect to see Technology Sourcing volumes normalise in 2024 as some of the high-volume, lower-margin projects we delivered, especially in the first half of 2023, were completed. In Services we expect continued growth while inflationary pressures are expected to moderate further.
We will continue to invest in strategic initiatives to enhance our systems and improve our competitive position to sustain our long-term performance. At the same time, we are increasingly focused on delivering productivity benefits across the Group.
Overall we expect to make further progress in 2024 with growth weighted to the second half of the year, reflecting a significantly more challenging comparison in the first half of the year than in the second half.
Looking further ahead, we are excited by the pace of innovation and growth in demand for technology. With our strength in Technology Sourcing, Professional Services and Managed Services, and focus on retaining and maximising customer relationships over the long term, we believe that we are well placed to deliver profitable growth and sustained cash generation.
Technical guidance for 2024:
· Strategic initiatives spend expected to be £28-30m
· Adjusted effective tax rate expected to be 28.5%-30.5%
· Capex expected to be £35-40m
· Dividend cover of 2-2.5x adjusted diluted EPS
우리의 전략적 초점
Focus on Target Market Customers: We focus only on a target market of the largest corporate and public sector organisations in each of our Sales countries. These target market customers require us to offer significant flexibility to meet their specific needs while also being competitive in each part of our portfolio. We invest in sales and customer engagement teams to build long-term relationships which earn customer loyalty. We work hard to get to know our customers, understand their needs and put them at the heart of everything we do.
Build Service Line scale and competitive advantage: We want to be the logical choice for our target market customers in the activities in which we focus. Our Service Lines of Technology Sourcing, Professional Services and Managed Services are focused on building and leveraging capabilities to meet customer needs efficiently and consistently and to build economic advantage.
Empower our People: We work hard to understand the needs of our customers and allow our customer-facing people to make responsible decisions that help us meet the needs of our customers faster. It is an essential part of our culture and helps us to differentiate from our competition, ensuring that we are focused on the needs of our target market customers and that our investments deliver an effective return. We empower our customer-facing people, while ensuring that all decisions are taken within a clear governance framework, supported by strong customer profitability reporting and clear remuneration plans.
We measure our strategic progress as follows:
고객 관계: retain and maximise the relationships with our large corporate and public sector customers over the long term
In 2023, we finished with 183 customers generating over £1m of gross profit, a decline of five from the previous year. This decline is unusual in a year in which we have maintained positive performance momentum. It is due to a diversity of performance from our customer base - a small number of customers have contributed significantly to our overall gross profit through significant investment programmes, while others have temporarily fallen below the £1m threshold, although they have continued to spend with us. While the decline is due to customer spending patterns, we are not complacent about this measure and have placed renewed focus on improvement in this KPI in the years ahead, through both growth in spend with existing customers as well as new customer acquisition. At the same time, we are pleased that the diversity and breadth of our customer base has delivered resilience in our performance.
Services growth: lead with and grow Services
In 2023, we grew Services revenue by 3.1% in constant currency in the context of a market where some services competitors have been showing revenue decline. Group Professional Services revenue grew by 5.7% in constant currency, despite a decline in the UK. Our Germany business, where we have built greater scale and competitive advantage, continues to set a benchmark for the levels of Professional Services growth achievable, with an increase of 13.5% in constant currency. We believe that we can grow Professional Services across the Group significantly. We have organised our previously disparate Professional Services resources into a single Group Service Line to provide the necessary focus and to leverage our success in Germany across the Group.
Group Managed Services revenue grew by 1.3% in constant currency. Our Managed Services business has continued to make reasonable progress in challenging market conditions. Despite the impact of inflation and resulting upward pressure on our cost base, customers continue to expect productivity gains through systems and automation, the development of which requires sustained and consistent investment. We are particularly pleased with some new Managed Services contract wins towards the end of 2023, which will support our continued growth in the years ahead.
생산력: increase the adjusted operating profit we retain as a proportion of our gross profit
Productivity is an important driver of value for the Group and we have broadened the way we measure this KPI. We are using gross profit conversion as the best overall productivity measure for our business across all our activities. It measures how much of our gross profit we convert into adjusted operating profit and helps measure how effectively we use our scale to improve operational leverage.
Management has already been incentivised on this KPI internally for some years. Gross profit conversion increased to 30.1% in 2021, as a result of both increased gross profit generation and improved Services productivity as a result of the Covid-19 pandemic. In 2022, Services productivity returned to more normal levels while inflation increased selling, general and administrative costs, resulting in a decline of gross profit conversion to 28.4%.
At the end of 2022 and throughout 2023 we have increased central corporate costs, primarily driven by the increased spend in strategic initiatives, resulting in a reduction in gross profit conversion to 26.0%. We believe this investment is essential to underpin our long-term competitiveness and will continue at an increased level in 2024.
책임 있는 사업
Computacenter continues to make good progress in line with our Sustainability Strategy, maintaining Carbon Neutrality for Scope 1 and 2 emissions for the second year. In 2023, we became one of the first in our industry to have our near-term, long-term and 2040 Net Zero targets approved by SBTi. During the same period, we saw our annual CDP disclosure ranking increase again, this time to A-.
In parallel, we have been creating positive impact for our people, customers and communities as part of our Social Strategy. Within our business, we have increased the percentage of senior roles held by women and the percentage of women across our workforce; we now have 1,400 more women than we did four years ago. This is just one of the areas of progress across our Diversity and Inclusion programmes.
We have also continued in our support of the communities around us, combining fundraising for charities with our own outreach and volunteering initiatives. During 2023, in the UK alone, we reached 21,135 young people through our social outreach programmes delivered by our volunteer network.
Underpinning our responsible business approach is our Sustainable Operations Strategy, which combines the systems and actions we need to ensure our environmental, social and compliance goals are addressed across our business and supply chain.
Summary of 2023 Group performance
In 2023, we continued to see strong demand for Technology Sourcing, with our target market, the largest customers, proving the most resilient and continuing to invest in technology. We grew our share within existing customers and also acquired new customers. Our Services business delivered solid growth during the year, with Professional Services revenue growing faster than Managed Services.
Total gross invoiced income increased by 11.4% and by 11.3% in constant currency and total revenue increased by 7.0% and by 6.9% in constant currency. Gross profit increased by 10.2% on a reported basis and by 9.8% in constant currency, driven by the strength of Technology Sourcing. Group gross margin increased by 44 basis points to 15.1%, reflecting a 74 basis points increase in Technology Sourcing and a 32 basis points decline in Services.
Adjusted operating profit increased by 0.9% on a reported basis and by 0.6% in constant currency, largely reflecting the impact of inflation and incremental investment in strategic initiatives. By geography, Germany and North America delivered strong growth in adjusted operating profit, more than offsetting a weaker performance in the UK.
Adjusted profit before tax increased by 5.4% on a reported basis and by 5.1% in constant currency, benefiting from higher net finance income. Adjusted diluted EPS increased by 3.0%, reflecting an increase in the effective tax rate to 27.6% (2022: 25.5%). Profit before tax increased by 9.3%. The difference between profit before tax and adjusted profit before tax relates to the Group's net costs of £5.9m from exceptional and other adjusting items, related to exceptional and other adjusting items associated with the acquisitions of Pivot and BITS. Diluted EPS increased by 8.9%.
Our cash performance was excellent as we reduced inventory, resulting in an increase of adjusted net funds of £214.7m to £459.0m.
그룹 공연
결과 | 2023 £ m | 2022 £ m | 변화 | 일정한 통화로 변경 |
기술 소싱 총 송장 소득 | 8,444.9 | 7,481.6 | 12.9% | 13.1% |
서비스 수익 | 1,636.5 | 1,570.6 | 4.2% | 3.1% |
전문 서비스 수익 | 678.8 | 636.6 | 6.6% | 5.7% |
관리 서비스 수익 | 957.7 | 934.0 | 2.5% | 1.3% |
총 송장 수입 | 10,081.4 | 9,052.2 | 11.4% | 11.3% |
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기술소싱 수익 | 5,286.3 | 4,899.9 | 7.9% | 8.1% |
서비스 수익 | 1,636.5 | 1,570.6 | 4.2% | 3.1% |
전문 서비스 수익 | 678.8 | 636.6 | 6.6% | 5.7% |
관리 서비스 수익 | 957.7 | 934.0 | 2.5% | 1.3% |
총 수익 | 6,922.8 | 6,470.5 | 7.0% | 6.9% |
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매출 총 이익 | 1,044.0 | 947.1 | 10.2% | 9.8% |
Adjusted total administrative expenses | (772.5) | (678.0) | 13.9% | 13.5% |
조정 된 영업 이익 | 271.5 | 269.1 | 0.9% | 0.6% |
Net adjusted finance income / (costs) | 6.5 | (5.4) | ||
세전 조정 이익 | 278.0 | 263.7 | 5.4% | 5.1% |
조정 희석 주당순이익(p) | 174.8 | 169.7 | 3.0% | |
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매출 총 이익 | 1,044.0 | 947.1 | 10.2% | |
총 관리비 | (783.3) | (690.7) | 13.4% | |
자회사 취득관련 기타소득 | 5.3 | - | ||
자회사 취득이익 | 2.8 | - | ||
영업 이익 | 268.8 | 256.4 | 4.8% | |
순금융수익 / (비용) | 3.3 | (7.4) | ||
과세 전 소득 | 272.1 | 249.0 | 9.3% | |
희석 EPS(p) | 173.2 | 159.1 | 8.9% |
기술 소싱
Technology Sourcing achieved strong growth during the year, driven by the spread of the customer base across multiple market segments, technology lines and geographies, which create durability and sustainability through diversification. After a very strong performance in the first half driven by certain high-volume projects, as expected, the second half saw more normalised activity levels as these were completed.
Group Technology Sourcing gross invoiced income grew by 13.1% in constant currency. Technology Sourcing gross margin increased by 74 basis points, reflecting broad-based improvements largely offsetting the impact of certain projects with lower-margin volumes, and a higher-software mix.
By technology area demand has been strongest in networking and data center. Workplace has been subdued reflecting high levels of investment during the pandemic. Customers continue to re-engineer IT structures and employ digital transformation to cope with the ever-evolving technology landscape and the need to reduce non-IT operating costs. The heightened cyber threat landscape continues to drive demand in this area.
By geography, Germany and North America were the key drivers of growth. North America benefited in particular from certain high-volume, lower-margin projects which are expected to normalise in 2024.
Our product order backlog, which is the total value of committed outstanding purchase orders placed with our technology vendors against non-cancellable sales orders for delivery within 12 months, as at 31 December 2023, is significantly lower than the prior-year equivalent. The reduction largely reflects the completion of certain high-volume projects in North America and the return to usual customer ordering behaviour as industry supply chains returned to normal. The product order backlog at 31 December 2023 was £1,222.3m, on a gross invoiced income basis, a 56.3% decrease since 31 December 2022 (£2,794.6m) in constant currency.
The Technology Sourcing backlog, alongside the Managed Services contract base and the Professional Services forward order book, provide visibility of future revenues in these areas.
서비스
Our Services performance for the year was solid. Total Services revenue grew by 3.1% in constant currency. Services gross margin decreased by 32 basis points during the year, mainly reflecting the impact of inflation and some onboarding costs for contracts won in 2022. We managed our margin recovery more effectively across the year, resulting in a better margin performance in the second half.
Professional Services revenue grew by 5.7% in constant currency and accounted for 41% of total Services revenue. Germany, our largest source of Professional Services revenue, grew strongly during the year across all solutions lines. This outweighed the weaker performance in the UK, which reflected the softer environment for workplace.
Managed Services revenue grew by 1.3% in constant currency and accounted for 59% of total Services revenue. Germany, our largest source of Managed Services revenue, grew well during the year reflecting contracts won in 2022. The UK experienced a slight decline in revenue in 2023, although a number of contract wins towards the end of the year are expected to support growth in 2024 and beyond.
Trading reviews by geography
영국
결과 | 2023 £ m | 2022 £ m | 변화 |
기술 소싱 총 송장 소득 | 1,938.1 | 1,864.2 | 4.0% |
서비스 수익 | 441.9 | 460.3 | (4.0의 %) |
전문 서비스 수익 | 132.2 | 147.5 | (10.4의 %) |
관리 서비스 수익 | 309.7 | 312.8 | (1.0의 %) |
총 송장 수입 | 2,380.0 | 2,324.5 | 2.4% |
기술소싱 수익 | 771.8 | 809.1 | (4.6의 %) |
서비스 수익 | 441.9 | 460.3 | (4.0의 %) |
전문 서비스 수익 | 132.2 | 147.5 | (10.4의 %) |
관리 서비스 수익 | 309.7 | 312.8 | (1.0의 %) |
총 수익 | 1,213.7 | 1,269.4 | (4.4의 %) |
|
| ||
매출 총 이익 | 250.8 | 259.2 | (3.2의 %) |
조정된 관리 비용 | (192.0) | (178.7) | 7.4% |
조정 된 영업 이익 | 58.8 | 80.5 | (27.0의 %) |
The UK delivered a weaker result in a soft market, especially for workplace activity. Total gross invoiced income increased by 2.4% reflecting growth in Technology Sourcing, partly offset by a 4.0% decline in Services revenue. Total revenue decreased by 4.4% reflecting a higher mix of software. Gross profit decreased by 3.2% with gross margin increasing by 24 basis points. Administrative expenses increased by 7.4% largely reflecting inflation and higher people costs, resulting in adjusted operating profit decreasing by 27.0%.
The UK market softened during the year due to unsettled economic conditions, with businesses and organisations delaying project implementations and investment decisions.
Early in the year, we implemented new leadership followed by significant structural changes, to enhance our focus on our target market of large corporate and public sector organisations and maximise growth. As part of this, we expanded our sales sectors from four to five, allowing us to get closer to our customers, better understand their needs and preferences, and ultimately drive increased sales opportunities. While near-term demand remains uncertain, we are encouraged by some significant Services contract wins towards the end of the year.
기술 소싱
Technology Sourcing gross invoiced income increased by 4.0%. Volumes started the year strongly but softened as the year progressed. Gross margin increased by 31 basis points.
Demand for hardware was subdued, particularly in the workplace, although we increased share with our key vendors. This follows customers' significant investments through the pandemic to support home and hybrid working and the completion of a number of large Windows 10 rollouts. As anticipated, this has led to a lag in customer adoption of Windows 11. Workplace activity is an important driver of utilisation at our Integration Centers, where our costs remain largely fixed. Software demand was stronger in areas such as data center and cloud.
We expect the adoption of Windows 11 to gain momentum during the second half of 2024. This will likely drive increased demand for new hardware, as customers upgrade their systems to align with the new operating system.
The product order backlog at 31 December 2023 was £364.3m. This represents a 10.1% increase since 31 December 2022 (£331.0m).
서비스
Services revenue declined by 4.0%, with Managed Services decreasing by 1.0% and Professional Services by 10.4%. Gross margin increased by 11 basis points, reflecting good recovery of cost inflation.
The lower demand in Technology Sourcing has had a ripple effect in Professional Services, which led to lower demand for workplace-related activities. This outweighed the significant growth achieved in supporting customers' adoption of public cloud and expanding and securing their networks.
In Managed Services, we concluded a large number of contract renewals during the year. Encouragingly, towards the end of the year we secured a large public sector contract as well as a number of smaller corporate contracts, all of which also provide growth opportunities in Technology Sourcing and Professional Services.
독일
결과 | 2023 £ m | 2022 £ m | 변화 | 일정한 통화로 변경 |
기술 소싱 총 송장 소득 | 2,111.5 | 1,704.7 | 23.9% | 21.7% |
서비스 수익 | 765.7 | 690.4 | 10.9% | 8.7% |
전문 서비스 수익 | 365.4 | 315.7 | 15.7% | 13.5% |
관리 서비스 수익 | 400.3 | 374.7 | 6.8% | 4.7% |
총 송장 수입 | 2,877.2 | 2,395.1 | 20.1% | 17.9% |
| ||||
기술소싱 수익 | 1,261.8 | 1,153.1 | 9.4% | 7.5% |
서비스 수익 | 765.7 | 690.4 | 10.9% | 8.7% |
전문 서비스 수익 | 365.4 | 315.7 | 15.7% | 13.5% |
관리 서비스 수익 | 400.3 | 374.7 | 6.8% | 4.7% |
총 수익 | 2,027.5 | 1,843.5 | 10.0% | 8.0% |
| ||||
매출 총 이익 | 374.5 | 325.1 | 15.2% | 13.1% |
조정된 관리 비용 | (211.5) | (184.2) | 14.8% | 12.5% |
조정 된 영업 이익 | 163.0 | 140.9 | 15.7% | 13.8% |
Germany delivered another strong year of growth, reflecting the depth and breadth of our capabilities and customer relationships. Total gross invoiced income increased by 17.9% in constant currency, driven by very strong growth in Technology Sourcing and strong growth in Services revenue. Gross profit increased by 13.1% in constant currency with gross margin increasing by 84 basis points, largely reflecting the strength of the Technology Sourcing performance. Administrative expenses increased by 12.5% in constant currency reflecting higher commissions and inflation, resulting in adjusted operating profit growth of 13.8% in constant currency.
We are benefiting from our strong focus on public sector and enterprise business. We significantly broadened our portfolio with existing customers and expanded our customer base. Our investments in the salesforce and broadening the technology and skills base are showing clear benefits and creating the basis for further growth.
The breadth of our portfolio is a key driver of our growth. For example, we concluded the largest Cisco Whole Portfolio Agreement contract in Europe, with a major international industrial technology group headquartered in Germany. This contract will run for five years. We will continue to equip, modernise, and operate IT infrastructure in all schools for a large southern German state capital in the coming years. This is an important milestone as we develop our offer to the German education market. In the transport sector, we expanded our scope with the largest German transport company and we will now provide a large part of its personal computer client infrastructure from next year onwards. Towards the end of the year, we won a significant IT infrastructure framework agreement with one of Germany's largest airports. In chemical and pharmaceuticals, we won Managed Services business with a global producer and will be responsible for the Global Service Desk. In addition, we significantly expanded our app development and cloud management business following investment in developers based in Cluj, Romania, to support our solution designers and project managers in Germany.
기술 소싱
Technology Sourcing gross invoiced income increased by 21.7% in constant currency, well ahead of market growth. This was driven by networking and security but data center and workplace also showed good growth. Technology Sourcing gross margin was very strong, increasing by 255 basis points over the period due to strong product mix and increased share of software volumes.
In addition to the increasingly strong software demand, we are seeing greater customer demand to bundle procurements in bigger framework contracts. This particularly applies to the global requirements of large international customers and to the high demand for infrastructure from our major public sector clients at state and federal level.
We also see demand for the combination of innovative and flexible financing solutions with asset management, deployment and maintenance services. The first international implementation of Computacenter's Device as a Service (DaaS) solution went live for a large German financial institution during the year.
The product order backlog at 31 December 2023 was £234.9m, a 25.6% decrease in constant currency since 31 December 2022 (£315.6m). This decrease largely reflects customer ordering patterns returning to normal.
서비스
Services revenue increased by 8.7% in constant currency with 13.5% growth in Professional Services and 4.7% growth in Managed Services. Services gross margin declined by 205 basis points as Managed Services experienced an increase in costs, most of which was inflation-related. In addition, there were one-off costs for onboarding new service contracts won in 2022 and technology refreshes of existing contracts that were up for renewal. Not all of these cost increases could be passed on to customers or offset by cost-reduction measures.
Professional Services saw continuing strong demand from public sector customers for support, engineering and consultancy services. We are excellently positioned here, with a broad base of framework agreements and a very good customer structure, primarily with federal and state authorities and larger local country departments and cities. We expect demand to be robust in the coming years and these areas will remain our focus. We also see a continuing need for project support and skills in our corporate customer segment, especially in networking and security, data center consolidation and cloud management, as well as for expanding modern workplace infrastructures. Our application development business, which we have grown organically, continues to be in high demand with our customers.
In Managed Services we are working hard to mitigate cost inflation by passing on the higher costs to our customers, where contractually appropriate, and by achieving additional savings, for example by using more automation. Our second challenge was to complete the transformational activities and technology refresh at a small number of customers in 2023. We have a very solid pipeline particularly in workplace and networking, where we are very well positioned. An increasing number of our international customers are looking for IT infrastructure service providers with a global capability for these services to improve quality and flexibility while reducing costs.
프랑스
결과 | 2023 £ m | 2022 £ m | 변화 | 일정한 통화로 변경 |
기술 소싱 총 송장 소득 | 728.5 | 606.7 | 20.1% | 18.2% |
서비스 수익 | 183.6 | 178.1 | 3.1% | 1.0% |
전문 서비스 수익 | 50.8 | 41.7 | 21.8% | 19.2% |
관리 서비스 수익 | 132.8 | 136.4 | (2.6의 %) | (4.6의 %) |
총 송장 수입 | 912.1 | 784.8 | 16.2% | 14.3% |
| ||||
기술소싱 수익 | 479.9 | 435.8 | 10.1% | 8.3% |
서비스 수익 | 183.6 | 178.1 | 3.1% | 1.0% |
전문 서비스 수익 | 50.8 | 41.7 | 21.8% | 19.2% |
관리 서비스 수익 | 132.8 | 136.4 | (2.6의 %) | (4.6의 %) |
총 수익 | 663.5 | 613.9 | 8.1% | 6.2% |
| ||||
매출 총 이익 | 87.3 | 76.7 | 13.8% | 12.3% |
조정된 관리 비용 | (78.6) | (69.6) | 12.9% | 10.9% |
조정 된 영업 이익 | 8.7 | 7.1 | 22.5% | 26.3% |
France continued its momentum into 2023 and delivered further strong growth during the period. Total gross invoiced income increased by 14.3% in constant currency, driven by strong growth in Technology Sourcing and a slight increase in Services revenue. Gross profit rose 12.3% in constant currency with gross margin increasing by 66 basis points, largely due to higher infrastructure and software mix. Administrative expenses increased by 10.9% in constant currency, reflecting targeted investment in sales headcount and inflation, resulting in adjusted operating profit increasing by 26.3% in constant currency to £8.7m.
Demand for Technology Sourcing was stronger than for Managed Services, where decision making was slower. During the year we continued to strengthen our position in networking and data center, aided by the full integration of CCNS, the business we acquired towards the end of 2020.
기술 소싱
Technology Sourcing gross invoiced income increased by 18.2% in constant currency, with a strong performance across both our corporate and public sector businesses. Technology Sourcing gross margin increased by 111 basis points, largely reflecting a higher-margin product mix.
The public sector remains the biggest contributor and this is mainly related to growth in multi-year framework agreements. We increased our presence in this area and were successful in winning new software and networking contracts, which we expect to drive growth. We continue to invest in our technical skills and are committed to maintaining the highest levels of accreditations for our priority technology vendors, especially in networking.
The product order backlog at 31 December 2023 was £124.1m representing a 7.9% increase in constant currency since 31 December 2022 (£115.0m).
서비스
Services revenue increased by 1.0% in constant currency, with 19.2% growth in Professional Services offset by a 4.6% decline in Managed Services. Services gross margin decreased by 87 basis points, reflecting volume declines in Managed Services and the impact of inflation.
Growth in Professional Services was mainly driven by large workplace and data center projects in the public sector. Our Managed Services contracts are predominantly with corporate customers. We saw a decrease in volume reflecting the lack of significant new contract wins in 2022. It was a good year for contract renewals in 2023 and in many instances, we have been able to expand our scope of work. However, decisions on new contract awards are taking longer, with some larger outcomes now expected in 2024.
북아메리카
결과 | 2023 £ m | 2022 £ m | 변화 | 일정한 통화로 변경 |
기술 소싱 총 송장 소득 | 3,454.4 | 3,131.7 | 10.3% | 11.8% |
서비스 수익 | 146.1 | 149.4 | (2.2의 %) | (0.9의 %) |
전문 서비스 수익 | 118.7 | 122.5 | (3.1의 %) | (1.7의 %) |
관리 서비스 수익 | 27.4 | 26.9 | 1.9% | 2.7% |
총 송장 수입 | 3,600.5 | 3,281.1 | 9.7% | 11.2% |
|
| |||
기술소싱 수익 | 2,602.6 | 2,357.9 | 10.4% | 11.8% |
서비스 수익 | 146.1 | 149.4 | (2.2의 %) | (0.9의 %) |
전문 서비스 수익 | 118.7 | 122.5 | (3.1의 %) | (1.7의 %) |
관리 서비스 수익 | 27.4 | 26.9 | 1.9% | 2.7% |
총 수익 | 2,748.7 | 2,507.3 | 9.6% | 11.0% |
|
| |||
매출 총 이익 | 267.5 | 238.3 | 12.3% | 13.7% |
조정된 관리 비용 | (202.5) | (185.3) | 9.3% | 10.7% |
조정 된 영업 이익 | 65.0 | 53.0 | 22.6% | 24.0% |
North America delivered a strong performance for the year. Gross invoiced income increased by 11.2% in constant currency and by 10.2% on an organic1 basis, driven by excellent growth in Technology Sourcing, with Services slightly down.
Gross profit increased by 13.7% in constant currency with gross margin increasing by 23 basis points, reflecting an underlying improvement across most of the business, offsetting the impact of high-volume lower-margin business. Administrative expenses increased by 10.7% in constant currency driven by higher commissions and wage inflation, resulting in adjusted operating profit increasing by 24.0% in constant currency and by 22.3% on an organic basis.
During the year, we significantly simplified the way that we go to market in North America. We have reduced the number of customer sectors we work in from 13 to seven, to ensure that we are targeting markets with appropriate sizes and that we can support them effectively. We continue to expand the number of salespeople to support our growth.
At the beginning of the year, we identified a number of prospective customers that we consider to be strategic for us in the long term. We received orders from 24 of these organisations during 2023 and we expect them to become significant customers for us in the future. We continue to focus heavily on operational improvements within the North American business and consolidated our CRM system in 2023. Implementing our Group ERP system remains a top priority.
기술 소싱
Technology Sourcing gross invoiced income grew by 11.8% in constant currency and by 10.8% on an organic basis, reflecting exceptional growth with a hyperscale customer. Our gross margin in Technology Sourcing increased by 23 basis points, with the underlying margin improvement across most of the business outweighing the impact of the growth in the hyperscale customer noted above, which commands a lower margin.
We continued to see a higher level of 'drop-ship' revenue driven by hyperscale customers, where products are delivered directly from the vendor rather than passing through our Integration Centers. Utilisation has however improved across the year and we have a significant pipeline of opportunities to grow Integration Center volumes.
We have continued to increase the number of technology vendors we work with and our US presence is helping to strengthen our relationships and programmes with existing vendor partners globally.
BITS, which we acquired in July 2022, delivered good growth for the year, with a large customer order that was deferred in the first half of the year fulfilled in the second half.
The product order backlog at 31 December 2023 was £487.1m, a 75.8% decrease in constant currency since 31 December 2022 (£2,009.0m). This decrease largely reflects the completion of certain high-volume, lower-margin projects.
In 2024 we expect Technology Sourcing volumes to normalise, following the exceptionally strong growth we achieved with certain high-volume, lower-margin customers in 2023. We believe we are well positioned to manage this over time given the structural improvements we have made and our progress with other large corporate customers.
서비스
Services revenue declined by 0.9% in constant currency, reflecting a 1.7% decline in Professional Services and 2.7% growth in Managed Services. Services gross margin increased by 23 basis points. Services revenues are currently small but we are excited by the opportunity to expand and leverage our Group-wide tools and systems, in both Professional and Managed Services.
Professional Services was impacted by unsatisfactory returns from one large customer, which has now been addressed. We continue to focus on efficiency to drive margin improvement.
The Managed Services business continues to execute our slow-and-steady growth plan. We went live with a large new customer in the US and won two new contracts in Canada, including one to provide helpdesk, asset and software license management services to a healthcare customer. We also secured a contract to provide a multi-year storage and backup service for a large government entity, which will allow us to sell to a broad range of public sector and non-profit organisations. Towards the end of the year we won a contract with a global automotive customer which will start in 2024, through successful collaboration with our German business.
국제 노동자 동맹
결과 | 2023 £ m | 2022 £ m | 변화 | 일정한 통화로 변경 |
기술 소싱 총 송장 소득 | 212.4 | 174.3 | 21.9% | 19.5% |
서비스 수익 | 99.2 | 92.4 | 7.4% | 5.8% |
전문 서비스 수익 | 11.7 | 9.2 | 27.2% | 21.9% |
관리 서비스 수익 | 87.5 | 83.2 | 5.2% | 3.9% |
총 송장 수입 | 311.6 | 266.7 | 16.8% | 14.8% |
|
| |||
기술소싱 수익 | 170.2 | 144.0 | 18.2% | 15.9% |
서비스 수익 | 99.2 | 92.4 | 7.4% | 5.8% |
전문 서비스 수익 | 11.7 | 9.2 | 27.2% | 21.9% |
관리 서비스 수익 | 87.5 | 83.2 | 5.2% | 3.9% |
총 수익 | 269.4 | 236.4 | 14.0% | 12.0% |
|
| |||
매출 총 이익 | 63.9 | 47.8 | 33.7% | 34.8% |
조정된 관리 비용 | (44.1) | (36.5) | 20.8% | 20.8% |
조정 된 영업 이익 | 19.8 | 11.3 | 75.2% | 81.7% |
국제 부문은 다수의 거래 법인, 근해 및 근해 서비스 센터 위치 및 기타 지원 작업이 있는 국가로 구성됩니다.
The trading entities include Computacenter Switzerland, Computacenter Belgium and Computacenter Netherlands. As in other markets, we focus on working with the largest corporate and public sector customers. Our target corporate customers in these geographies typically have an international footprint and we are well placed to support them outside their domestic markets. We have a small number of important Managed Services customers that are managed from our International Segment and delivered using our Group Managed Services capability.
Emerge 360 Japan k.k (Emerge), which we acquired in May 2022, has Services delivery locations in Japan, Australia, Singapore and Hong Kong. These trading entities are joined in the Segment by the offshore Group Service Center entities in Spain, Malaysia, India, South Africa, Hungary, Poland, China and Mexico, and the Professional Services Delivery Center in Romania, which have limited external revenues as they charge the relevant Group subsidiaries for the services provided. We established further delivery locations in the Philippines and Brazil during the year.
재무 성과
Total gross invoiced income increased by 14.8% in constant currency, with strong growth in both Technology Sourcing and Services revenue. Gross profit increased by 34.8% in constant currency, with gross margin up 350 basis points. Technology Sourcing gross margin increased by 72 basis points and Services gross margin grew by 972 basis points. Administrative expenses increased by 20.8% in constant currency, resulting in adjusted operating profit rising 81.7% in constant currency.
Belgium delivered a strong performance, driven primarily by growth in Technology Sourcing, especially networking, outweighing weaker demand for workplace. Managed Services also performed strongly helped by new business with existing customers and a new multi-year outsourcing contract with a global customer in the financial settlement services industry.
The Netherlands achieved strong growth and made good progress with new business targets. However, one of the largest public sector Technology Sourcing contracts was not renewed in the second half, which is expected have an impact on 2024 performance.
Switzerland had a challenging year, as customers reviewed their hybrid working approach following the pandemic, resulting in a significant decline in volumes in our main Services contracts. We have taken action including increasing our sales activity for national and international opportunities, while resizing our delivery teams. In Technology Sourcing, we have won some significant public sector contracts, especially in the education sector, and won new business by working closely with our preferred technology vendors.
The combined product order backlog at 31 December 2023 was £12.0m, a 50.3% decrease in constant currency since 31 December 2022 (£24.1m) in constant currency.
최고 재무 책임자의 검토
2023 was another record year for Computacenter, with growth in gross invoiced income, revenue and all adjusted profit measures. Our cash performance was excellent, driven by strong inventory management, resulting in adjusted net funds of £459.0m at the end of the year. These strong results have been achieved while continuing to invest in the business to secure future growth.
매출 총 이익
Gross profit grew by 10.2% in the year reflecting strong growth in gross invoiced income and revenue and a robust gross margin performance. Group gross margin increased by 44 basis points with an increase in Technology Sourcing gross margin outweighing a slight decline in Services, as we managed inflationary pressures effectively.
Overall, Group gross margin, expressed as gross profit as a percentage of revenue, increased to 15.1% (2022: 14.6%).
영업 이익
Operating profit grew by 4.8% to £268.8m (2022: 256.4m). Adjusted operating profit grew by 0.9% to £271.5m (2022: £269.1m), and by 0.6% in constant currency.
Administrative expenses increased by 13.4% to £783.3m (2022: £690.7m). We continue to monitor cost-management initiatives across the Group to drive unnecessary cost out of the business. However, we have balanced this with the need to invest to ensure future growth is protected. During the year we increased our spend on strategic corporate initiatives by 89.8% to £28.1m (2022: £14.8m). Adjusted administrative expenses increased by 13.9% to £772.5m (2022: £678.0m), and by 13.5% in constant currency.
Group gross profit conversion, expressed as adjusted operating profit as a percentage of gross profit, fell to 26.0% (2022: 28.4%) partly reflecting the increase in investment during the year.
과세 전 소득
The Group's profit before tax for the year increased by 9.3% to £272.1m (2022: £249.0m). Adjusted profit before tax increased by 5.4% to £278.0m (2022: £263.7m) and by 5.1% in constant currency.
The acquisitions of BITS and Emerge, completed in 2022, added £221.4m of revenue (2022: £187.1m) and £9.3m of adjusted profit before tax (2022: £7.1m) to the Group's reported results.
The difference between profit before tax and adjusted profit before tax relates to the Group's net costs of £5.9m (2022: net costs of £14.7m) from exceptional and other adjusting items, associated with the acquisitions of Pivot and BITS and the amortisation of acquired intangibles as a result of these and other North American acquisitions. Further information on these items can be found below.
Reconciliation to adjusted measures for the year ended 2023
보고 연간 결과 £ m | 조정 | ||||
대리점 계약의 주요 요소 £ m | 상각 | 예외 다른 사람 £ m | 조정 일년 내내 결과 £ m | ||
수익 | 6,922.8 | 3,158.6 | - | - | 10,081.4 |
매출원가 | (5,878.8) | (3,158.6) | - | - | (9,037.4) |
매출 총 이익 | 1,044.0 | - | - | - | 1,044.0 |
관리비 | (783.3) | - | 10.8 | - | (772.5) |
자회사 취득관련 기타소득 | 5.3 | - | - | (5.3) | - |
자회사 인수 관련 이익 | 2.8 | - | - | (2.8) | - |
영업 이익 | 268.8 | - | 10.8 | (8.1) | 271.5 |
금융 수입 | 13.8 | - | - | - | 13.8 |
금융 비용 | (10.5) | - | - | 3.2 | (7.3) |
과세 전 소득 | 272.1 | - | 10.8 | (4.9) | 278.0 |
소득세 비용 | (72.7) | - | (4.0) | - | (76.7) |
올해의 이익 | 199.4 | - | 6.8 | (4.9) | 201.3 |
Reconciliation to adjusted measures for the year ended 2022
보고 연간 결과 £ m | 조정 | ||||
대리점 계약의 주요 요소 £ m | 상각 | 예외 다른 사람 £ m | 조정 일년 내내 결과 £ m | ||
수익 | 6,470.5 | 2,581.7 | - | - | 9,052.2 |
매출원가 | (5,523.4) | (2,581.7) | - | - | (8,105.1) |
매출 총 이익 | 947.1 | - | - | - | 947.1 |
관리비 | (690.7) | - | 10.9 | 1.8 | (678.0) |
영업 이익 | 256.4 | - | 10.9 | 1.8 | 269.1 |
금융 수입 | 2.4 | - | - | - | 2.4 |
금융 비용 | (9.8) | - | - | 2.0 | (7.8) |
과세 전 소득 | 249.0 | - | 10.9 | 3.8 | 263.7 |
소득세 비용 | (64.8) | - | (2.3) | (0.2) | (67.3) |
올해의 이익 | 184.2 | - | 8.6 | 3.6 | 196.4 |
순금융소득
Net finance income in the year amounted to £3.3m (2022: £7.4m charge). The main items included within the net income for the year were £4.7m of interest charged on lease liabilities recognised under IFRS 16 (2022: £4.9m) and exceptional interest costs of £3.2m relating to the unwinding of the discount on the contingent consideration for the purchase of BITS, which was excluded on an adjusted basis (2022: £2.0m). Outside of the specific items above, net finance income of £11.2m was recorded (2022: net finance costs of £0.5m). On an adjusted basis, the net finance income was £6.5m during the year (2022: net finance cost of £5.4m).
과세
The tax charge was £72.7m (2022: £64.8m) on profit before tax of £272.1m (2022: £249.0m). This represented a tax rate of 26.7% (2022: 26.0%).
The tax credit related to the amortisation of acquired intangibles was £4.0m (2022: £2.3m). The £10.8m of amortisation of intangible assets was almost entirely a result of the North American acquisitions (2022: £10.9m). As the amortisation is recognised outside of our adjusted profitability, the tax benefit on the amortisation is also reported outside of our adjusted tax charge.
The adjusted tax charge for the year was £76.7m (2022: £67.3m), on an adjusted profit before tax for the year of £278.0m (2022: £263.7m). The effective tax rate (ETR) was therefore 27.6% (2022: 25.5%) on an adjusted basis.
Overall, the adjusted ETR, is continuing to trend upwards due to an increasing reweighting of the geographic split of adjusted profit before tax away from the United Kingdom to Germany and the United States, where tax rates are higher. Further, a substantively enacted tax increase has taken effect in the United Kingdom from 1 April 2023, with a rise from 19% to 25%.
The adjusted ETR is therefore within the full-year range that we indicated at the time of our 2023 Interim Results, which showed an expected ETR for 2023 of 27% to 29.5%. We expect that the full year ETR in 2024 will be subject to increasing upwards pressure, due to the changing mix in where profits are earned geographically to where tax rates are higher, as noted above, and also as governments across our primary jurisdictions come under fiscal and political pressure to increase corporation tax rates.
The Group Tax Policy was reviewed during the year and approved by the Audit Committee and the Board, with no material changes from the prior year. We make every effort to pay all the tax attributable to profits earned in each jurisdiction that we operate. We do not artificially inflate or reduce profits in one jurisdiction to provide a beneficial tax result in another and maintain approved transfer pricing policies and programmes, to meet local compliance requirements. Virtually all of the tax charge in 2023 was incurred in either the United Kingdom, Germany or United States tax jurisdictions, as it was in 2022. Computacenter France, which includes the Computacenter NS acquisition within a tax group, has returned to being in a profit-making position, increasing the amount of tax paid locally.
There are no material tax risks across the Group. Computacenter will recognise provisions and accruals in respect of tax where there is a degree of estimation and uncertainty, including where it relates to transfer pricing, such that a balance cannot fully be determined until accepted by the relevant tax authorities. For 2023, the Group Transfer Pricing policy implemented in 2013 resulted in a licence fee of £36.9m (2022: £38.7m), charged by Computacenter UK to Computacenter Germany, Computacenter France and Computacenter Belgium. The licence fee is equivalent to 1.0% of revenue and reflects the value of the best practice and know-how that is owned by Computacenter UK and used by the Group. It is consistent with the requirements of the Organisation for Economic Co-operation and Development (OECD) base erosion and profit shifting. The licence fee is recorded outside the Segmental results found in note 4 to the summary financial information within this announcement, which analyses Segmental results down to adjusted operating profit.
The table below reconciles the tax charge to the adjusted tax charge for the years ended 31 December 2023 and 31 December 2022.
2023 £ m | 2022 £ m | |
세금 | 72.7 | 64.8 |
Items to exclude from adjusted tax: | ||
Tax credit on amortisation of acquired intangibles | 4.0 | 2.3 |
예외 품목에 대한 세금 | - | 0.2 |
조정된 세금 부과 | 76.7 | 67.3 |
유효 세율 | 26.7% | 26.0% |
조정된 실효 세율 | 27.6% | 25.5% |
올해의 이익
The profit for the year increased by 8.3% to £199.4m (2022: £184.2m). The adjusted profit for the year increased by 2.5% to £201.3m (2022: £196.4m) and by 1.8% in constant currency.
예외 및 기타 조정 항목
The net loss from exceptional and other adjusting items in the year was £1.9m (2022: loss of £12.2m). Excluding the tax items noted above, which resulted in a gain of £4.0m (2022: gain of £2.5m), the profit before tax impact was a net loss from exceptional and other adjusting items of £5.9m (2022: loss of £14.7m).
A $9.3m (£7.4m) settlement was received on 8 May 2023 from the Washington State Department of Revenue. The settlement related to litigation contesting a historic, pre-acquisition, sales tax assessment that was paid by antecedent companies related to the acquired Pivot group of companies. Of this amount, $6.7m (£5.3m) has been recognised as other income relating to the acquisition of a subsidiary for the refunded sales tax amount. Further amounts of $1.6m (£1.3m) and $1.0m (£0.8m) have been credited to adjusted interest income, for the refund of statutory overpayment interest receivable on the original payment, and adjusted administrative expenses, to reimburse legal expenses incurred since acquisition, respectively. The element related to the refunded sales tax amount is non-operational in nature, significant in size and unlikely to recur and has therefore been classified as exceptional.
At acquisition, contingent consideration was agreed which required the Group to pay former owners of Business IT Source Holdings, Inc. (BITS), two earn-out payments based on BITS's 2022 and 2023 earnings before interest, taxation, depreciation and amortisation (EBITDA) and indebtedness. During the year, and in accordance with the share purchase agreement, the Group made its first earn-out payment amounting to £17.4m ($21.2m) which was broadly in line with the estimate made as at 31 December 2022.
On 30 June 2023, a renegotiated agreement was signed with the former owners following which, the second earn-out is now based on BITS's 2023 EBIDTA, H1 2024 EBIDTA, and indebtedness over these periods. Having considered a range of possible earn-out scenarios, Management has determined that a gross liability of £21.2m under the revised agreement should be recorded as contingent consideration of £20.2m on a discounted basis as at 31 December 2023. The impact of changes to the payment structures under the renegotiated agreement has resulted in a release during the year of £2.8m. This release related to the acquisition is non-operational in nature, significant in size and has therefore been classified as an exceptional item.
A further £3.2m relating to the unwinding of the discount on the contingent consideration for the purchase of BITS has been removed from the adjusted net finance expense and classified as exceptional interest costs.
During 2022, an exceptional loss during the year of £1.8m resulted from costs directly relating to the acquisitions made during the year of BITS and Emerge. These costs include professional advisor fees and seller's fees that were paid on completion of the transaction. These costs are non-operational in nature, significant in size and unlikely to recur and have therefore been classified as outside our adjusted results. A further £2.0m relating to the unwinding of the discount on the contingent consideration for the purchase of BITS has been removed from the 2022 adjusted net finance expense and classified as exceptional interest costs.
We have continued to exclude, as an 'other adjusting item', the amortisation of acquired intangible assets in calculating our adjusted results. Amortisation of intangible assets is non-cash, does not relate to the operational performance of the business, and is significantly affected by the timing and size of our acquisitions, which distorts the understanding of our Group and Segmental operating results.
The amortisation of acquired intangible assets was £10.8m (2022: £10.9m), primarily relating to the amortisation of the intangibles acquired as part of the recent North American acquisitions.
주당 순이익
Diluted EPS increased by 8.9% to 173.2p per share (2022: 159.1p per share). Adjusted diluted EPS increased by 3.0% to 174.8p per share (2022: 169.7p per share).
2023 | 2022 | |
기본가중평균주식수(자사보유주식 제외) (m) | 112.9 | 112.8 |
희석 효과: | ||
공유 옵션 | 1.2 | 2.1 |
희석가중평균주식수 | 114.1 | 114.9 |
모기업의 주주에게 귀속되는 연도 이익 (£m) | 197.6 | 182.8 |
기본 주당순이익(p) | 175.0 | 162.1 |
희석주당순이익(p) | 173.2 | 159.1 |
Adjusted profit for the year attributable to equity holders of the Parent (£m) | 199.5 | 195.0 |
조정된 기본 주당순이익(p) | 176.7 | 172.9 |
조정 희석 주당순이익(p) | 174.8 | 169.7 |
피제수
The Board recognises the importance of dividends to shareholders and the Group has a long track record of paying dividends and other special cash returns. Computacenter's approach to capital management is to ensure that the Group has a robust capital base and maintains a strong credit rating, whilst aiming to maximise shareholder value. The Group is highly cash generative enabling organic and inorganic investment in recent years to be funded from cash reserves.
Dividends are paid from the standalone balance sheet of the Parent Company and, as at 31 December 2023, the distributable reserves were £474.1m (31 December 2022: £257.4m). The distributable reserves have increased as a result of the capital restructure described on below.
The Board is pleased to propose a final dividend for 2023 of 47.4p per share (2022: 45.8p per share). Together with the interim dividend, this brings the total ordinary dividend for 2023 to 70.0p per share, representing a 3.1% increase on the 2022 total dividend per share of 67.9p.
The Board has consistently applied the Company's dividend policy, which states that the total dividend paid will result in a dividend cover of 2 to 2.5 times based on adjusted diluted EPS. In 2023, the cover was 2.5 times (2022: 2.5 times).
Subject to the approval of shareholders at our Annual General Meeting on 14 May 2024, the proposed dividend will be paid on Friday 5 July 2024. The dividend record date is set as Friday 7 June 2024 and the shares will be marked ex-dividend on Thursday 6 June 2024.
As a business that has returned £945m through a combination of dividends and share buybacks since flotation, with no additional investment required from shareholders over that time, we are committed to managing the cash position for shareholders. The strength of our balance sheet provides us with significant optionality, and we continue to evaluate a number of capital allocation options, including potential inorganic growth and the return of surplus capital to shareholders.
자본화 문제 및 자본감소
The Company's cash generation over recent years has enabled it to have a strong dividend policy and to periodically return additional value to its shareholders, most recently by way of a tender offer in 2018. While the Company has sufficient profits available for distribution (also known as 'distributable reserves') to fund its projected distributions in the immediate future, the Board recently undertook an assessment of the balance sheet to identify any reserves that were not distributable, and which could be converted into distributable reserves to provide flexibility for future returns of value to the Company's shareholders.
해당 평가에 따라 이사회는 특정 준비금을 확인하고 2023년 상반기에 자본 감소 프로그램을 시작했습니다(각각 '자본 감소' 및 함께 '자본 감소'). 이를 달성하기 위해서는 먼저 신규 이연주를 발행하여('자본화 발행') 이러한 준비금 중 일부를 주식 자본으로 전환한 다음 첫 번째 자본 감소의 일환으로 해당 주식을 취소해야 했습니다. 17차 자본감소는 회사의 자본상환준비금 취소와 관련이 있습니다. 자본화 문제, 이를 실행하는 데 필요한 회사 정관 변경 및 후속 자본 감소는 2023년 XNUMX월 XNUMX일에 열린 회사의 연례 총회에서 각각 승인되었습니다. 그런 다음 자본 감소는 법원에서 확인되었습니다. 효과적이게 됩니다.
자본화 발행 및 자본 감소는 회사 보통주의 명목 가치에 어떠한 변화도 가져오지 않았고, 회사의 현금 상태나 순자산에 영향을 미치지 않았으며, 회사의 자본 상환이나 분배를 수반하지 않았습니다. 회사의 기존 배당 정책에는 변화가 없었습니다.
자본화 문제와 자본감소로 인해 주주들에게 영국 세금이 부과되어서는 안 됩니다.
As a result of the capitalisation issue and capital reductions, the distributable reserves of the Company have been increased by £183.9m as at 31 December 2023.
중앙 기업 비용
Certain expenses are not specifically allocated to individual Segments because they are not directly attributable to any single Segment. These include the costs of the Board itself, related public company costs, Group Executive members not aligned to a specific geographic trading entity and the cost of centrally funded strategic initiatives that benefit the whole Group. Accordingly, these expenses are disclosed separately as central corporate costs, within the Segmental note. These costs are borne within the Computacenter (UK) Limited legal entity and have been removed for Segmental reporting and performance analysis but form part of the overall Group adjusted administrative expenses.
Total central corporate costs were significantly increased on last year with an 84.8% increase to £43.8m (2022: £23.7m). Within this:
· Board expenses, related public company costs and costs associated with Group Executive members not aligned to a specific geographic trading entity, increased to £12.8m (2022: £7.2m) due to certain project costs, the dual running of several Group Executive members handing over portfolios during the year, and the increase in headcount aligned with central corporate costs;
· share-based payment charges associated with Group Executive members as identified above, including the Group Executive Directors, increased from £1.7m in 2022 to £2.8m in 2023, due primarily to the value of Computacenter plc ordinary shares, the overall outlook for the vesting of in-flight PSP awards and the increase in management personnel aligned with central corporate costs; and
· strategic corporate initiatives are designed to increase capability and therefore competitive position, enhance productivity or strengthen systems which underpin the Group. During the year this spend was £28.1m, up 89.9% over 2022 (£14.8m), in line with forecasts, as the Group increases the pace of its investment in new systems, toolsets and cyber resilience.
투자
In 2023 we nearly doubled our spend on strategic corporate initiatives to £28.1m, all of which was recognised through the income statement. This spend was spread across projects that will improve our capabilities, productivity and underpin our systems of the future.
Computacenter resells, deploys and manages vendor technology for customers. This means we are fundamentally a people-centric business. Customers remain loyal to Computacenter because of the quality of our people and service and this will always be the case. However there are a number of other assets that we employ to deliver to our customers such as our Service and Integration Center facilities, methodologies, best practices and, in particular, great systems. We invest consistently to improve and support these systems, which give us a competitive advantage in a business which is about scale, repeatability and agility.
Most of the spend is focused on our systems to ensure that they continue to be secure and supportable. We are not just upgrading, but also moving to new systems in order to obtain the security and support we need and develop competitive advantage through continued operational leverage of these new toolsets and processes. We have continued to refine our systems investment roadmap through to the end of 2027, with a programme to replace legacy systems that enable our Technology Sourcing and Services businesses. Investing in best-of-breed tools will lower cost to serve, improve the quality of our offerings and enhance our relevance to customers in the marketplace
Our systems need to be robust, secure and able to handle large volumes. They also have to be simple to use and adaptable to most customer eventualities. We prioritise our plans for systems development, and other investments in time and capital, in response to the ever-changing environment in which we operate.
Cyber risk remains one of the greatest risks to our business, but also presents one of the greatest opportunities to differentiate from our competitors through our internal resilience and by helping our customers to overcome these same challenges. We will continue to invest heavily in cyber resilience.
Whilst cyber risk forms part of the Group's overall Principal Risks, it could be argued that cyber risk is the single major risk facing large corporates today.
현금 흐름
The Group delivered a substantial increase in net cash flow from operating activities, which totalled £410.6m for 2023 (2022: £242.1m inflow).
During the year, net operating cash inflows from working capital, including inventories, trade and other receivables, and trade and other payables, were £136.7m (2022: £60.8m outflow).
Throughout 2022, customers placed advance orders of product, due to the significant product shortages seen during the 18 months to 31 December 2022, to ensure continuity of supply. Additionally, inventory increased as we deliberately invested in working capital by pre-ordering inventory, once a committed purchase order had been received from the customer, using the strength of our balance sheet to support our customers during product shortages. During 2023, supply chains returned to more normal conditions and, as a result, customers have returned to normal purchasing patterns. This has naturally led to both reduced levels of inventory and product order backlogs. Our focus on inventory control has delivered substantial reductions in both Germany and North America, the two Segments where we experienced the greatest inventory accumulation through 2022.
The implementation of additional inventory holding approval controls in the final quarter of 2022, the continued focus from the Group Technology Sourcing and Finance teams, and the re-implementation of internal inventory holding charges across the sales teams from April 2023, have also all contributed to this improvement in our overall working capital balance sheet position.
After interest, tax and gross capital expenditure cashflows, our free cash flow was £339.9m (2022: £150.9m).
31 12월 2023 | 31 12월 2022 | |
조정 된 영업 이익 | 271.5 | 269.1 |
조정 항목 | (2.7) | (12.7) |
영업 이익 | 268.8 | 256.4 |
Other non-cash items and adjustments | 47.3 | 49.4 |
운전자본의 변화 | 136.7 | (60.8) |
Change in pensions and provisions | (0.8) | (0.7) |
사용권 자산 감가 상각 | 41.4 | 50.5 |
운영에서 발생하는 현금 | 493.4 | 294.8 |
Interest and payments related to lease liabilities | (46.1) | (55.2) |
조정된 영업 현금 흐름 | 447.3 | 239.6 |
순이자 수령/(지급) | 10.5 | (0.5) |
납부한 세금 | (82.8) | (52.7) |
총 자본 지출 | (35.1) | (35.5) |
무료 현금 흐름 | 339.9 | 150.9 |
배당금 지급 | (77.3) | (80.5) |
Purchase of own shares net of proceeds of exercise of employee share options | (28.8) | (28.2) |
Acquisition of subsidiaries, including contingent consideration and purchase of 비 지배 지분 | (19.3) | (28.3) |
자산 처분 | - | 1.1 |
순 현금 흐름 | 214.5 | 15.0 |
Net debt repayment | (6.9) | (16.6) |
현금및현금성자산의 증가/(감소) | 207.6 | (1.6) |
현금 및 현금성 자산에 대한 환율의 영향 | (0.8) | (7.2) |
연초의 현금 및 현금성자산 | 264.4 | 273.2 |
연말의 현금및현금성자산 | 471.2 | 264.4 |
순자금 개설 | 117.2 | 95.3 |
Increase/(decrease) in cash and cash equivalents including impact of exchange rates | 206.8 | (8.8) |
Movements in borrowings | 7.9 | 11.7 |
리스 부채의 움직임 | 11.7 | 19.0 |
순자금 마감 | 343.6 | 117.2 |
Opening adjusted net funds | 244.3 | 241.4 |
Increase/(decrease) in cash and cash equivalents including impact of exchange rates | 206.8 | (8.8) |
Movements in borrowings | 7.9 | 11.7 |
Closing adjusted net funds | 459.0 | 244.3 |
The Group had £216.0m of inventory as at 31 December 2023, a decrease of 48.3% on the balance as at 31 December 2022 of £417.7m. The closing balance was materially lower than the high point of £532.6m as at 30 September 2022, with a reduction of £316.6m since that time. We expect that levels of inventory will remain near the levels seen in the second half of 2023, in-line with historical operational norms. Whilst inventory has materially improved, working capital cash flows during the year were still impacted by the strong growth in revenue seen as the business continues to expand.
Capital expenditure in the year was £35.1m (2022: £35.5m) representing, primarily, investments in IT equipment and software tools, to enable us to deliver improved service to our customers.
The Group's Employee Benefit Trust (EBT) made market purchases of the Company's ordinary shares of £38.0m (2022: £34.4m) to satisfy maturing PSP awards and Sharesave schemes and to reprovision the EBT in advance of future maturities. During the year the Company received savings from employees of £9.2m to purchase options within the Sharesave schemes (2022: £6.2m).
During the year the Group made two additional payments related to previous acquisitions. The first was for BITS where, in accordance with the share purchase agreement, the Group made its first earn-out payment amounting to $21.2m (£17.4m) which was broadly in line with the estimate made as at 31 December 2022. The second was on 7 June 2023, where the remaining 5.0% of the voting shares in R.D. Trading Limited (RDC) were acquired for a cash consideration of £1.9m. This completes the acquisition of RDC, which is a central component of our Circular Services offering to customers where we repurpose or recycle end-of-life IT equipment and a key element of our sustainability strategy.
The Group reduced loans during the year by a net £6.9m (2022: £16.6m). We made regular repayments towards the loan related to the construction of the German headquarters in Kerpen and the customer financing facility in Pivot.
The Group continued to manage its cash and working capital positions appropriately, using standard mechanisms, to ensure that cash levels remained within expectations throughout the year. From time-to-time, some customers request credit terms longer than our typical period of 30-60 days. In certain instances, we will arrange for the sale of the receivables on a true sale basis to a finance institution on the customers' behalf. We would typically receive funds on 45-day terms from the finance institution, which will then recover payment from the customer on terms agreed with them. The cost of such an arrangement is borne by the customer, either directly or indirectly, enabling us to receive the full amount of payment in line with our standard terms.
The benefit to the cash and cash equivalents position of such arrangements as at 31 December 2023 was £33.8m (31 December 2022: £45.1m).
The Group had no other debt factoring at the end of 31 December 2023, outside this normal course of business.
During December 2022, the Group engaged in a limited factoring programme of trade receivables within the German business, on a non-recourse basis, to provide assurance against unforeseen liquidity issues which did not, in the event, arise due to the continued aforementioned strength of cash receipts in the final weeks of 2022. This factoring was for £46.1m or 2.7% of the trade receivables before provisions balance as at 31 December 2022, the comparative balance sheet date. The Group had no other debt factoring at the end of 31 December 2022, outside this normal course of business.
현금및현금성자산과 순자금
Cash and cash equivalents as at 31 December 2023 were £471.2m, compared to £264.4m at 31 December 2022. Net funds as at 31 December 2023 were £343.6m (31 December 2022: £117.2m).
The Group excludes £115.4m, as at 31 December 2023 (31 December 2022: £127.1m), of lease liabilities from its non-GAAP adjusted net funds measure, to allow an alternative view of the Group's overall liquidity position excluding the effect of the lease liabilities required to be capitalised the under the IFRS 16 accounting standard.
Adjusted net funds as at 31 December 2023 were £459.0m, compared to adjusted net funds of £244.3m as at 31 December 2022.
Net funds as at 31 December 2023 and 31 December 2022 were as follows:
31 12월 2023 £ m | 31 12월 2022 £ m | |
현금 및 단기 예금 | 471.2 | 264.4 |
은행 당좌 대월 | - | - |
현금 및 현금성 자산 | 471.2 | 264.4 |
은행 대출 - 고객별 시설 중심화 | (4.5) | (7.7) |
Bank loans - BITS facility | - | (2.0) |
은행 대출 - 커펜 건물 시설 | (7.7) | (10.4) |
총 은행 대출 | (12.2) | (20.1) |
조정된 순자금(리스 부채 제외) | 459.0 | 244.3 |
리스 부채 | (115.4) | (127.1) |
순자금 | 343.6 | 117.2 |
For a full reconciliation of net funds and adjusted net funds, see note 9 to the to the summary financial information within this announcement.
그룹은 해당 연도 동안 XNUMX개의 특정 신용 시설을 보유하고 있으며 다른 중요한 차입금은 없습니다.
The Group entered into a multi-currency revolving loan committed facility of £200m on 9 December 2022. This facility had a term of five years plus two one-year extension options exercisable on the first and second anniversary of the facility and was due to expire on 8 December 2027. The Group has exercised the extension option on the first anniversary of the commencement of the facility, extending the term to six years with a revised expiry of 8 December 2028. A further term extension option of one additional year remains available. The Group is subject to certain key financial covenants under this syndicated facility with Barclays, Lloyds, HSBC, BNP Paribas, JPMorgan Chase and PNC Bank. These covenants, as defined in the agreement, are monitored regularly to ensure compliance. As at 31 December 2023, the Group was in compliance with all covenants. To improve short-term liquidity, £60m was drawn down on Friday 6 April 2023 and was repaid in full on Tuesday 9 May 2023. April is typically the lowest point of the cash cycle for the Group and cash can be impacted, from time-to-time, by individual large deals with hyperscale customers depending on the payment terms specific to that deal or customer. This facility is undrawn as at 31 December 2023.
The Group also has a specific term loan for the build and purchase of our German office headquarters and fit out of the Integration Center in Kerpen, which stood at £7.7m at 31 December 2023 (31 December 2022: £10.4m).
Pivot had £4.5m (31 December 2022: £9.7m) financed with a major technology partner for hardware, software and resold maintenance contracts that the Company had purchased as part of a contract to lease these items to a key North American customer.
Computacenter India Private Limited has a local facility with HSBC India for local cash liquidity to facilitate the continued growth of our operations in the country. There was no interest-bearing debt drawn under this facility as at 31 December 2023.
The BITS subsidiary maintains a ringfenced accounts receivable and inventory flooring arrangement facility with Wells Fargo of up to $100m, secured on the assets of that subsidiary. The facility is provided on a rolling basis and the latest amendment was signed on 20 July 2023. There was no interest-bearing debt drawn under this facility as at 31 December 2023 (31 December 2022: £2.0m).
There were no other interest-bearing trade payables as at 31 December 2023 (31 December 2022: nil).
The Group's adjusted net funds position contains no current asset investments (31 December 2022: nil).
Trade creditor arrangements
Computacenter has a strong covenant and enjoys a favourable credit rating from technology vendors and other suppliers. Some suppliers provide standard credit directly on their own credit risk, whereas other suppliers decide to sell the debt to banks, which offer to purchase the receivables and manage collection. The standard credit terms offered by suppliers are typically between 30 and 60 days, whether provided directly or when sold to a third-party finance provider. In the latter case, the cost of the free-trade credit period is paid by the relevant supplier, as part of the overall package of terms provided by suppliers to Computacenter and our competitors.
금융 상품
연결실체의 금융상품은 차입금, 현금 및 유동자원, 영업과 직접적으로 발생하는 다양한 항목으로 구성되어 있습니다. 그룹의 정책은 금융상품에 대한 투기적 거래를 수행하지 않는 것입니다.
연결실체는 연결실체의 영업과 자금원천에서 발생하는 환위험을 관리하기 위해 주로 선물환계약이나 통화스왑과 같은 헤지거래를 체결하고 있습니다. 그룹은 계속해서 글로벌 범위를 확장하고 남아프리카, 폴란드, 멕시코, 인도와 같은 지역에서 저비용 운영으로 이익을 얻음에 따라 통화 이동으로 인한 비용 증가를 관리하는 데 도움이 되는 선물환 계약을 체결했습니다.
연결실체의 금융상품에서 발생하는 주요 위험은 이자율, 유동성 및 환위험입니다. 전반적인 금융 상품 전략은 이러한 위험이 그룹의 재무 결과에 미치는 영향을 최소화하기 위해 관리하는 것입니다. 이러한 각 위험을 관리하기 위한 정책은 아래에 설명되어 있습니다.
금리 위험
The Group finances its operations through a mixture of retained profits, bank borrowings, leases and loans for certain customer contracts. The Group's general bank borrowings, other facilities and deposits are at floating rates. No interest rate derivative contracts have been entered into. The undrawn committed facility of £200m is at floating rates. However, the borrowing facility for the operational headquarters in Germany is at a fixed rate.
유동성 위험
The Group's policy is to ensure that it has sufficient funding and facilities to meet any foreseeable peak in borrowing requirements. The Group's positive net cash was maintained throughout 2023 and at the year end was £471.2m, with net funds of £343.6m after including the Group's two specific borrowing facilities and lease liabilities recognised under IFRS 16. Excluding lease liabilities, adjusted net funds was £459.0m at the year end.
Due to strong cash generation over many years, the Group can currently finance its operational requirements from its cash balance, and it operates an informal cash pooling arrangement for the majority of Group entities. The Group has a committed facility of £200m, as noted above.
The Group has a Board-monitored policy to manage its counterparty risk. This ensures that cash is placed on deposit across a range of reputable banking institutions.
외화위험
The Group operates primarily in the United Kingdom, Germany, France and the United States, with smaller operations in Australia, Belgium, Brazil Canada, China, Hong Kong, Hungary, India, Ireland, Japan, Malaysia, Mexico, the Netherlands, the Philippines, Poland, Romania, South Africa, Singapore, Spain and Switzerland. The Group uses an informal cash pooling facility to ensure that its operations outside the United Kingdom are adequately funded, where principal receipts and payments are denominated in euros and US dollars. For countries within the Eurozone, the level of non-euro denominated sales is small and, if material, the Group's policy is to eliminate currency exposure through forward currency contracts. For our North American operations, most transactions are denominated in US dollars.
영국의 경우 대부분의 판매 및 구매가 파운드화로 표시되며 중요한 거래 노출은 선물환 계약을 통해 제거됩니다.
The Group has been successful in winning international Services contracts, where Services are provided in multiple countries. We aim to minimise currency exposure by invoicing the customer in the same currency in which the costs are incurred. For certain contracts, the Group's committed contract costs are not denominated in the same currency as its sales. In such circumstances, for example where contract costs are denominated in South African rand, we eliminate currency exposure for a foreseeable period on these future cash flows, through forward currency contracts.
In 2023, the Group recognised a gain of £2.8m (2022: loss of £2.5m) through other comprehensive income in relation to the changes in fair value of related forward currency contracts, where the cash flow hedges relating to firm commitments were assessed to be highly effective.
The Group reports its results in pounds sterling. The Group has seen relatively minor currency translation movements, as the pound sterling fluctuations against other currencies, particularly the US dollar and the euro, which impacts us the most, largely offset each other.
The impact of restating 2022 results at 2023 exchange rates would be an increase of £5.0m in 2022 revenue and an increase of £0.5m in 2022 adjusted profit before tax.
신용 위험
The Group principally manages credit risk through customer credit limits. The credit limit is set for each customer based on its creditworthiness, using credit rating agencies as a guide, and the anticipated levels of business activity. These limits are determined when the customer account is first set up and are regularly monitored thereafter. There are no significant concentrations of credit risk within the Group. The Group's major customer, disclosed in note 4 to the summary financial information within this announcement, is a hyperscale North American technology company which typically settles outstanding amounts on shorter-than-average payment terms. The maximum credit risk exposure relating to financial assets is represented by their carrying value as at the balance sheet date.
This Strategic Report was approved by the Board on 19 March 2024 and was signed on its behalf by:
MJ 노리스 | MC 젤레 |
최고 경영자(CEO) | 최고 재무담당자(CFO) |
연결 손익 계산서
31년 2023월 XNUMX일로 종료되는 연도에 대해
주의 사항 | 2023 £ m | 2022 £ m | |
수익 | 4,5 | 6,922.8 | 6,470.5 |
매출원가 | (5,878.8) | (5,523.4) | |
매출 총 이익 | 4 | 1,044.0 | 947.1 |
관리비 | (783.3) | (690.7) | |
자회사 취득에 따른 기타소득 | 5.3 | - | |
자회사 인수 관련 이익 | 2.8 | - | |
영업 이익 | 268.8 | 256.4 | |
금융 수입 | 13.8 | 2.4 | |
금융 비용 | (10.5) | (9.8) | |
과세 전 소득 | 272.1 | 249.0 | |
소득세 비용 | 7 | (72.7) | (64.8) |
올해의 이익 | 199.4 | 184.2 | |
원인 : | |||
지배기업의 지분보유자 | 197.6 | 182.8 | |
비 지배 지분 | 1.8 | 1.4 | |
올해의 이익 | 199.4 | 184.2 | |
주당 수입 : | |||
-기본 | 8 | 175.0p | 162.1p |
- 희석 | 8 | 173.2p | 159.1p |
그룹의 모든 활동은 지속적인 운영과 관련됩니다.
연결포괄손익계산서
31년 2023월 XNUMX일로 종료되는 연도에 대해 | 주의 사항 | 2023 £ m | 2022 £ m |
올해의 이익 | 199.4 | 184.2 | |
연결손익계산서에 재분류될 수 있는 항목은 다음과 같습니다. | |||
현금흐름헤지에서 발생하는 이익/(손실) | 2.8 | (2.5) | |
소득세 효과 | 7 | (0.9) | 1.0 |
1.9 | (1.5) | ||
해외사업장 환산차이 | (25.8) | 47.5 | |
(23.9) | 46.0 | ||
연결손익계산서에 재분류되지 않는 항목은 다음과 같습니다. | |||
확정급여형 재측정 | (2.8) | 1.7 | |
해당 연도의 기타 종합 비용, 세액 | (26.7) | 47.7 | |
당해 년도 총 포괄 이익 | 172.7 | 231.9 | |
원인 : | |||
지배기업의 지분보유자 | 171.3 | 229.9 | |
비 지배 지분 | 1.4 | 2.0 | |
당해 년도 총 포괄 이익 | 172.7 | 231.9 |
연결 대차대조표
31 년 2023 월 XNUMX 일 기준
주의 사항 | 2023 £ m | 2022 (재설명*) £ m | 1 1월 2022 * £ m | |
비유동 자산 | ||||
재산, 식물 및 장비 | 96.1 | 94.1 | 90.0 | |
사용권 자산 | 104.5 | 119.4 | 138.1 | |
무형 자산 | 322.4 | 342.1 | 273.7 | |
준회원에 대한 투자 | 0.1 | 0.1 | 0.1 | |
이연 법인세 자산 | 7 | 11.6 | 11.3 | 30.2 |
매출 채권 및 기타 채권* | 21.1 | 9.9 | - | |
선불 | 5 | 10.3 | 19.4 | 16.6 |
566.1 | 596.3 | 548.7 | ||
유동 자산 | ||||
재고 | 216.0 | 417.7 | 341.3 | |
매출 채권 및 기타 채권* | 1,498.1 | 1,683.8 | 1,254.7 | |
미수금 | 12.5 | 14.6 | 8.8 | |
선불 | 5 | 139.7 | 130.5 | 103.0 |
미지급소득* | 5 | 151.9 | 129.2 | 148.1 |
파생 금융 상품 | 2.5 | 7.5 | 3.6 | |
현금 및 단기 예금* | 9 | 471.2 | 264.4 | 285.2 |
2,491.9 | 2,647.7 | 2,144.7 | ||
총자산 | 3,058.0 | 3,244.0 | 2,693.4 | |
유동 부채 | ||||
은행 당좌차월* | 9 | - | - | 12.0 |
매입 채무 및 기타 채무 | 1,674.5 | 1,857.5 | 1,410.4 | |
이연 소득 | 5 | 230.3 | 265.3 | 249.3 |
금융 부채 | 4.8 | 7.5 | 15.1 | |
리스 부채 | 37.3 | 36.9 | 43.0 | |
파생 금융 상품 | 6.3 | 8.7 | 2.5 | |
납부할 소득세* | 16.9 | 30.9 | 27.4 | |
식량 | 2.2 | 3.8 | 3.5 | |
1,972.3 | 2,210.6 | 1,763.2 | ||
비유동 부채 | ||||
금융 부채 | 7.4 | 12.6 | 16.7 | |
리스 부채 | 78.1 | 90.2 | 103.1 | |
이연 소득 | 5 | 4.3 | 7.9 | 8.3 |
퇴직 급여 의무 | 26.2 | 23.0 | 21.8 | |
식량 | 6.9 | 7.0 | 9.7 | |
이연 법인세 부채 | 7 | 13.4 | 20.7 | 25.8 |
136.3 | 161.4 | 185.4 | ||
총 부채 | 2,108.6 | 2,372.0 | 1,948.6 | |
순자산 | 949.4 | 872.0 | 744.8 | |
자본 및 준비금 | ||||
발행된 자본금 | 9.3 | 9.3 | 9.3 | |
프리미엄 공유 | 4.0 | 4.0 | 4.0 | |
자본상환준비금 | - | 75.0 | 75.0 | |
보유 주식 보유 | (140.4) | (127.7) | (115.5) | |
환산 및 헤징 준비금 | 27.2 | 50.7 | 5.4 | |
이익 잉여금 | 1,041.6 | 854.4 | 762.3 | |
주주 지분 | 941.7 | 865.7 | 740.5 | |
비 지배 지분 | 7.7 | 6.3 | 4.3 | |
총 자본 | 949.4 | 872.0 | 744.8 |
* Refer to note 2 for restatement of prior-year comparatives.
19년 2024월 XNUMX일 이사회에서 승인되었습니다.
MJ 노리스 | MC 젤레 |
최고 경영자(CEO) | 최고 재무담당자(CFO) |
연결 자본 변동표
31년 2023월 XNUMX일로 종료되는 연도에 대해
지배기업의 주주에게 귀속됨 | |||||||||
발행된 자본금 £ m | 공유 프리미엄 £ m | 자본 구속 비축 £ m | 소유 주식 개최 £ m | 환산 및 헤징 준비금 £ m | 이익 잉여금 £ m | 몫- holders' equity £ m | 비 지배 지분 £ m | 금액 공평 £ m | |
1년 2023월 XNUMX일 | 9.3 | 4.0 | 75.0 | (127.7) | 50.7 | 854.4 | 865.7 | 6.3 | 872.0 |
올해의 이익 | - | - | - | - | - | 197.6 | 197.6 | 1.8 | 199.4 |
기타포괄(비용) | - | - | - | - | (23.5) | (2.8) | (26.3) | (0.4) | (26.7) |
총포괄(비용)/수익 | - | - | - | - | (23.5) | 194.8 | 171.3 | 1.4 | 172.7 |
소유자와의 거래: | |||||||||
- Cost of share-based payments | - | - | - | - | - | 7.7 | 7.7 | - | 7.7 |
- Tax on share-based payments | - | - | - | - | - | 3.1 | 3.1 | - | 3.1 |
- Capital reduction | - | - | (75.0) | - | - | 75.0 | - | - | - |
- 옵션의 행사 | - | - | - | 25.3 | - | (16.1) | 9.2 | - | 9.2 |
- 자사주 매입 | - | - | - | (38.0) | - | - | (38.0) | - | (38.0) |
- Equity dividends | - | - | - | - | - | (77.3) | (77.3) | - | (77.3) |
금액 | - | - | (75.0) | (12.7) | - | (7.6) | (95.3) | - | (95.3) |
31년 2023월 XNUMX일 | 9.3 | 4.0 | - | (140.4) | 27.2 | 1,041.6 | 941.7 | 7.7 | 949.4 |
1년 2022월 XNUMX일 | 9.3 | 4.0 | 75.0 | (115.5) | 5.4 | 762.3 | 740.5 | 4.3 | 744.8 |
올해의 이익 | - | - | - | - | - | 182.8 | 182.8 | 1.4 | 184.2 |
기타 포괄 손익 | - | - | - | - | 45.3 | 1.8 | 47.1 | 0.6 | 47.7 |
총 포괄 손익 | - | - | - | - | 45.3 | 184.6 | 229.9 | 2.0 | 231.9 |
소유자와의 거래: | |||||||||
- Cost of share-based payments | - | - | - | - | - | 8.6 | 8.6 | - | 8.6 |
- Tax on share-based payments | - | - | - | - | - | (4.6) | (4.6) | - | (4.6) |
- 옵션의 행사 | - | - | - | 22.2 | - | (16.0) | 6.2 | - | 6.2 |
- 자사주 매입 | - | - | - | (34.4) | - | - | (34.4) | - | (34.4) |
- Equity dividends | - | - | - | - | - | (80.5) | (80.5) | - | (80.5) |
금액 | - | - | - | (12.2) | - | (92.5) | (104.7) | - | (104.7) |
31년 2022월 XNUMX일 | 9.3 | 4.0 | 75.0 | (127.7) | 50.7 | 854.4 | 865.7 | 6.3 | 872.0 |
연결 현금 흐름표
31년 2023월 XNUMX일로 종료되는 연도에 대해 | 주의 사항 | 2023 £ m | 2022 £ m |
영업 활동 | |||
과세 전 이익 | 272.1 | 249.0 | |
순재무(수입)/비용 | (3.3) | 7.4 | |
유형 자산의 감가 상각 | 20.4 | 21.5 | |
사용권 자산 감가 상각 | 41.4 | 50.5 | |
무형 자산의 상각 | 18.9 | 18.9 | |
주식 기반 지불 | 7.7 | 8.6 | |
재산, 식물 및 장비 처분 손실 | 0.2 | 0.5 | |
재고로 인한 순현금흐름 | 189.2 | (7.0) | |
매출채권 및 기타채권(계약자산 포함) 순현금흐름 | 107.7 | (317.2) | |
매출채권 및 기타채무(계약부채 포함)로 인한 순현금흐름 | (160.2) | 263.4 | |
충당금 및 직원 복리후생으로 인한 순 현금 흐름 | (0.8) | (0.7) | |
기타 조정 | 0.1 | (0.1) | |
운영에서 발생하는 현금 | 493.4 | 294.8 | |
납부 한 소득세 | (82.8) | (52.7) | |
영업활동으로 인한 순현금흐름 | 410.6 | 242.1 | |
투자 활동 | |||
받은이자 | 13.1 | 2.4 | |
취득한 현금을 차감한 자회사의 취득 | - | (28.3) | |
우발적 고려 | (17.4) | - | |
재산, 식물 및 장비 구매 | (21.9) | (23.7) | |
무형 자산 구매 | (13.2) | (11.8) | |
재산, 식물 및 장비의 처분 수익 | - | 1.1 | |
투자 활동으로 인한 순 현금 흐름 | (39.4) | (60.3) | |
금융 활동 | |||
이자 지급 | (2.6) | (2.9) | |
리스부채에 대한 이자 | (4.7) | (4.9) | |
비지배지분 매입 | (1.9) | - | |
지배기업의 주주에게 지급된 배당금 | (77.3) | (80.5) | |
주식 옵션 행사 수익 | 9.2 | 6.2 | |
자사주 매입 | (38.0) | (34.4) | |
대출금 상환 및 신용편의 | (69.8) | (20.6) | |
임대 부채의 자본 요소 지불 | (41.4) | (50.3) | |
차입금 인출 | 62.9 | 4.0 | |
재무활동으로 인한 순현금흐름 | (163.6) | (183.4) | |
현금및현금성자산의 증가/(감소) | 207.6 | (1.6) | |
현금 및 현금성 자산에 대한 환율의 영향 | (0.8) | (7.2) | |
연초의 현금 및 현금성자산 | 9 | 264.4 | 273.2 |
연말의 현금및현금성자산 | 9 | 471.2 | 264.4 |
1 일반 정보
Computacenter plc는 영국에 법인을 설립하고 주소를 둔 유한회사로 주식이 공개적으로 거래됩니다. 등록된 주소는 Hatfield Business Park, Hatfield Avenue, Hatfield, AL10 9TW입니다.
2 중요한 회계정책의 요약
The accounting policies adopted are consistent with those of the previous financial year as applied in the 2022 Annual Report and Accounts.
New or revised standards or interpretations
Some accounting pronouncements which have become effective from 1 January 2023 and have therefore been adopted do not have a significant impact on the Group's financial results or position other than the change discussed below.
IAS 12 does not specifically address the tax effects of right-of-use assets and lease liabilities. However, in May 2021 the IASB made amendments to IAS 12 which narrow the scope of the initial recognition exemption in paragraphs 15 and 24 of IAS 12 and require entities to recognise deferred tax on transactions that, on initial recognition, give rise to equal amounts of taxable and deductible temporary differences. As a consequence, entities are now required to recognise both a deferred tax asset and a deferred tax liability on the initial recognition of a lease. While these would typically qualify for offsetting in the balance sheet, the notes to the financial statements need to disclose the gross amounts. The amendments apply to annual reporting periods beginning on or after 1 January 2023.
The Group was previously recording deferred tax on right-of-use assets and lease liabilities on a net basis. Upon adoption of the amendments, the cumulative effect of initially applying the amendments at 1 January 2022 was not material to the retained earnings position and therefore no adjustment has been made for this date. The Group has now grossed up deferred tax liabilities of £26.6m (2022: £31.1m) on right-of-use assets and deferred tax assets of £27.9m (2022: £32.4m) on lease liabilities which are disclosed in note 7. Due to the offsetting of these deferred tax assets and liabilities on the basis that they relate to income taxes levied by the same taxation authority on the same taxable entity, there is no material impact on the deferred tax position reported on the Consolidated Balance Sheet. The application of these amendments to IAS 12 has had no material impact on the Group's profit before tax or profit after tax, net assets and earnings per share.
New standards, interpretations or amendments not yet effective have not been early adopted and have not been disclosed as they are not expected to have a material effect on the Group's Consolidated Financial Statements. The Group anticipates that all relevant pronouncements will be adopted for the first period beginning on or after the effective date of the pronouncement.
2.1 준비의 기초
The summary financial information set out above does not constitute the Group's Statutory Consolidated Financial Statements for the years ended 31 December 2023 or 2022. The summary financial information set out above is derived from the Statutory Consolidated Financial Statements for the Group for the year ended 31 December 2022, prepared in accordance with adopted IFRS, which have been delivered to the Registrar of Companies and those for 2023 will be delivered in due course. The auditor has reported on those accounts; their report was (i) unqualified, (ii) did not include a reference to any matters to which the auditors drew attention by way of any emphasis without qualifying their opinion and (iii) did not contain a statement under Section 498 (2) or (3) of the Companies Act 2006.
This preliminary announcement does not constitute the Group's full financial statements for 2023 within the meaning of Section 434 of the United Kingdom Companies Act 2006.
The Consolidated Financial Statements are prepared on the historical cost basis, other than derivative financial instruments and contingent consideration, which are stated at fair value.
연결 재무제표는 파운드화(£)로 표시되며 모든 값은 달리 표시되지 않는 한 십만 단위로 반올림됩니다.
In determining whether it is appropriate to prepare the financial statements on a going concern basis, the Group prepares a three-year Plan (the 'Plan') annually by aggregating top-down expectations of business performance across the Group in the second and third year of the Plan with a detailed 12-month bottom-up budget for the first year, which was approved by the Board. The Plan is subject to rigorous downside sensitivity analysis which involves flexing a number of the main assumptions underlying the forecasts within the Plan. The forecast cash flows from the Plan are aggregated with the current position to provide a total three-year cash position against which the impact of potential risks and uncertainties can be assessed. In the absence of significant external debt, the analysis also considers access to available committed and uncommitted finance facilities, the ability to raise new finance in most foreseeable market conditions and the ability to restrict dividend payments.
The Directors have identified a period of not less than 12 months through to 19 March 2025, as the appropriate period for the going concern assessment and have based their assessment on the relevant forecasts from the Plan for that period. No events or conditions beyond the assessment period that may cast significant doubt on the Group's ability to continue as a going concern have been identified.
The potential impact of the principal risks and uncertainties is then applied to the Plan. This assessment includes only those risks and uncertainties that, individually or in plausible combination, would threaten the Group's business model, future performance, solvency or liquidity over the assessment period and which are considered to be severe but reasonable scenarios. It also takes into account an assessment of how the risks are managed and the effectiveness of any mitigating actions.
The combined effect of the potential occurrence of several of the most impactful risks and uncertainties is represented by a large adjustment to the cash flows over the assessment period which is then compared to the cash position generated by the Plan, throughout the assessment period, to model whether the business will be able to continue in operation. This application of the risk impact adjustment is performed under two sensitivity scenarios.
For the current period, the primary downside sensitivity relates to a modelled, but not predicted, severe downturn in Group revenues, beginning in 2024, simulating a continued impact for some of our customers from a reduction in customer demand due to the current economic crisis, and ongoing impact on the Group's revenues from this macroeconomic instability. This sensitivity analysis models a continued market downturn scenario, with slower-than-predicted recovery estimates, for some of our customers whose businesses have been affected by the downturn occurring for our customer base as a result of the emerging negative global macroeconomic environment due to the current economic crisis.
The second sensitivity scenario includes a further extreme, but not predicted, severe downturn in Group revenues and margins leading to a substantial loss-making position over the assessment period. Included within this sensitivity scenario is the modelled lack of access to our committed facility.
Under both scenarios, the business demonstrates modelled solvency and liquidity over the assessment period where the supporting models were tested with rigorous downside sensitivity analysis, which involved flexing a number of the main assumptions underlying the forecasts.
Our cash and borrowing capacity provides sufficient funds to meet the foreseeable needs of the Parent and Group. At 31 December 2023, the Group had cash and short-term deposits of £471.2m and bank debt, primarily related to the recently built headquarters in Germany and operations in North America, of £12.2m. On 9 December 2022, the Group entered into a new unsecured multi-currency revolving loan facility of £200.0m in order to rationalise its treasury operations. The new facility has a term of five years plus two one-year extension options exercisable on the first and second anniversary of the facility. The Group has exercised the extension option on the first anniversary, extending the term to six years with one further one-year extension option available.
The Group has a resilient balance sheet position, with net assets of £949.4m as at 31 December 2023. The Group made a profit after tax of £199.4m, and delivered net cash flows from operating activities of £410.6m, for the year ended 31 December 2023.
민감도 시나리오에서 모델링한 가혹한 경제 여건 하에서도 분석 결과 강력한 예측 현금 포지션이 계속 표시됨에 따라 이사들은 모회사와 그룹이 현재 경제 환경에서 비즈니스 및 재무 위험을 관리할 수 있는 적절한 위치에 있다고 계속 생각합니다. 이 평가를 기반으로 이사들은 모회사와 그룹이 통합 계약에 서명한 날로부터 12개월 이상의 기간 동안 기한이 도래함에 따라 운영을 계속하고 책임을 다할 수 있을 것이라는 합리적인 기대가 있음을 확인합니다. 재무제표이므로 계속기업 기준으로 연결재무제표를 작성했습니다.
Consolidated Balance Sheet - restatement of comparative information
At 31 December 2022, certain items were incorrectly presented on the Consolidated Balance Sheet as follows:
· Tax balances of £25.5m were included as part of 'Trade and other receivables'. These have been re-presented by reclassifying to 'Income tax payable' and netting these amounts against payable balances in the same tax jurisdiction.
· Trade and other receivables relating to a contract of £6.0m was included as part of 'Accrued income'. This has now been reclassified to 'Trade and other receivables'. Further to this, and related to the same contract, an amount of £9.9m has been reclassified from 'Trade and other receivables' (current) to 'Trade and other receivables' (non-current).
· A bank overdraft balance of £10.7m has been reclassified to 'Cash and short-term deposits' as the 'right of offset' has been established.
Of the above, only the reclassification of the tax balances has an impact on the Consolidated Balance Sheet as at 1 January 2022, which is to decrease Trade and other receivables by £20.5m and decrease Income tax payable by the same amount. There is no impact on reported 'Net funds' and 'Net assets' from the above changes for any of the periods presented.
2.2 연결 근거
The Consolidated Financial Statements comprise the financial statements of the Parent Company and its subsidiaries as at 31 December each year. The financial statements of subsidiaries are prepared for the same reporting year as the Parent Company, using existing GAAP in each country of operation. Adjustments are made on consolidation for differences that may exist between the respective local GAAPs and IFRS.
All intra-group balances, transactions, income and expenses and profit and losses resulting from intra-group transactions have been eliminated in full.
자회사는 그룹이 지배력을 획득한 날부터 연결되며 그룹이 더 이상 지배력을 보유하지 않는 날부터 연결이 중단됩니다. 비지배지분은 연결실체가 보유하지 않는 종속기업의 당기손익 및 순자산 부분을 나타내며 연결대차대조표에서 지배주주지분과 별도로 표시됩니다.
2.2.1 외화 환산
Each entity in the Group determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency. Transactions in foreign currencies are initially recorded in the functional currency at the exchange rate ruling at the date of the transaction, or where relevant, the rate of a specific forward exchange contract. Monetary assets and liabilities denominated in foreign currencies are retranslated at the functional currency rate of exchange ruling at the Consolidated Balance Sheet date. All differences are taken to the Consolidated Income Statement except foreign currency differences arising from the translation of qualifying cash flow hedges, which are recognised in the Consolidated Statement of Comprehensive Income, to the extent that the hedges are effective.
Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate as at the date of initial transaction.
The functional currencies of the main overseas subsidiaries are euro (?) and US dollar ($). The Group's presentation currency is pound sterling (£). As at the reporting date, the assets and liabilities of overseas subsidiaries are translated into the presentation currency of the Group at the rate of exchange ruling at the Consolidated Balance Sheet date and their income statements are translated at the average exchange rates for the year. Exchange differences arising on the retranslation are recognised in the Consolidated Statement of Comprehensive Income. On disposal of a foreign entity, the deferred cumulative amount recognised in the Consolidated Statement of Comprehensive Income relating to that particular foreign operation is recognised in the Consolidated Income Statement.
2.3년 수익
수익은 고객에게 재화 및 용역을 이전한 대가로서 고객으로부터 받을 것으로 기대되는 금액까지 연결실체의 수행의무를 이행한 시점에 인식하고 있습니다.
둘 이상의 상품(기술 소싱) 또는 서비스(전문 서비스 및 관리 서비스)가 고객에게 제공되는 고객과의 다중 요소 계약에서는 별도의 약속이 계약의 맥락 내에서 별개의 이행 의무인지 여부를 결정하기 위해 분석이 수행됩니다. . 이 경우, 거래가격은 상대적 독립 판매가격을 기준으로 구별된 이행의무 간에 배분됩니다. 그런 다음 활동의 성격과 특정 이행의무와 관련된 고객 계약의 조건에 따라 인식 목적으로 수익을 평가합니다.
수익을 인식하기 전에 다음과 같은 특정 인식 기준도 충족해야 합니다.
2.3.1 기술 소싱
그룹은 하드웨어, 소프트웨어 및 재판매된 제XNUMX자 서비스('상품'으로 통칭)를 여러 공급업체에서 소싱하고 납품하는 고객에게 제공합니다.
Technology Sourcing 수익은 재화에 대한 통제가 고객에게 이전된 시점에 그룹의 수행의무가 이행된 시점에 인식됩니다. 일반적으로 고객은 개별 고객 계약에 따라 상품이 배달되고 해당 구내에서 수락되었을 때 상품에 대한 통제권을 얻습니다. 인보이스는 당사의 통합 센터에서 발송할 때 또는 공급업체가 직접 배송하는 경우 고객 위치에서 수령할 때 일상적으로 생성됩니다. 각 보고일에 해당 보고일에 고객이 받지 못한 상품에 대해 수익이 인식되지 않도록 하는 프로세스가 수행됩니다. 상품에 대한 지불은 일반적으로 업계 표준 지불 조건 또는 그 이전에 일반적으로 30일 이내에 수령됩니다. '청구 후 보류' 거래에 대해서는 참고 3.2.1를 참조하십시오.
Revenue is recorded at the price specified in sales invoices which is based on the customer contracts, net of any agreed discounts and rebates, and exclusive of value added tax on goods or services supplied to customers during the year.
In limited instances, the Group provides early payment discounts or rebates to its customers which create variability in the transaction price. In determining the variable consideration to be recognised, these discounts and rebates are estimated based on the terms of contractually agreed arrangements and the amount of consideration to which the Group will be entitled in exchange for supplying the goods or services. The level of estimation involved in assessing the variable consideration is minimal given the arrangements are generally prospective in nature and therefore deductions from revenue and trade receivables are appropriately accounted for at the point revenue is recognised.
Revenue is recognised to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur.
Technology Sourcing principal versus agent recognition
Management assesses the classification of certain revenue contracts for Technology Sourcing revenue recognition on either an agent or principal basis. Because the identification of the principal in a contract is not always clear, Management makes a determination by evaluating the nature of our promise to our customer as to whether it is a performance obligation to pass control of the specified goods or services ourselves, in which case we are the principal, or to arrange for those goods or services to be provided by the other party, where we are the agent. We determine whether we are a principal or an agent for each specified good or service promised to the customer by evaluating the nature of our promise to the customer against a non-exhaustive list of indicators that a performance obligation could involve an agency relationship:
· 당사는 해당 상품 또는 서비스가 고객에게 전달되기 전에 지정된 각 상품 또는 서비스를 통제하지 않습니다.
· 판매자는 판매 이행에 대한 일차적인 책임을 집니다.
· 우리는 상품을 주문하기 전이나 후에, 배송 중 또는 반품 시 재고 위험을 감수하지 않습니다.
· 당사는 공급업체의 상품에 대한 가격을 책정할 재량권이 없으므로 해당 상품의 판매로 인해 받을 수 있는 혜택이 제한됩니다. 그리고
· 우리의 고려는 일반적으로 미리 결정된 수수료의 형태입니다.
2.3.2 전문 서비스
The Group provides skilled professionals to customers either operating within a project framework or on a 'resource on demand' basis.
프로젝트 프레임워크 내에서 운영되는 계약의 경우 수익은 계약의 총 예상 비용(진행률 기준)에 대한 비율로 발생한 비용을 참조하여 거래 가격을 기준으로 인식됩니다.
For those contracts which are 'resource on demand', where highly skilled employees work for a customer on projects and engagements managed by the customer, revenue is billed on a timesheet basis. The Group elects to use the practical expedient in IFRS 15.B16, as we have a right to consideration from our 'resource on demand' Professional Services customers in an amount that corresponds directly with the value to our customer of the Group's performance completed to date. The practical expedient applied permits the Group to recognise these 'resource on demand' Professional Services revenues in the amount to which the entity has a right to invoice. Professional Services revenue is therefore recognised throughout the term of the contract, as services are delivered, with amounts recognised based on monthly invoiced amounts, as this corresponds to the service delivered to the customer and the satisfaction of the Group's performance obligations.
Under either basis, Professional Services revenue is recognised over time. The majority of the Group's Professional Services revenue is constituted by 'resource on demand' arrangements, is recognised in this manner and represents the primary area of growth in this business line. As the majority of Professional Services revenue is recognised as 'resource on demand', the overall balance of risks to recognition for this business is decreased as compared to the scenario where the majority of Professional Services revenue would be recognised on a percentage of completion basis. This is due to the monthly timesheet nature of the billing which is agreed regularly with the customer as the service is delivered.
If the total estimated costs and revenues of a contract cannot be reliably estimated, revenue is recognised only to the extent that costs have been incurred and where the Group has an enforceable right to payment as work is being performed.
A provision for forecast excess costs over forecasted revenue is made as soon as a loss is foreseen (see note 2.12.1 for further detail). Payment for the Services, which are invoiced monthly, is generally on industry standard payment terms.
2.3.3 관리 서비스
그룹은 고객의 IT 인프라 및 운영에 대한 유지보수, 지원 및 관리를 판매합니다.
관리형 서비스 계약의 구체적인 이행 의무 및 청구 조건은 일반적으로 당사가 관리하는 통화, 개입 또는 사용자 수와 관련이 있으므로 고객은 서비스가 수행되는 동시에 서비스 혜택을 받고 소비합니다. 그룹은 IFRS 15.B16의 실무적 간편법을 사용하기로 결정했습니다. 당사는 지금까지 완료된 그룹 성과의 고객 가치와 직접적으로 일치하는 금액으로 관리 서비스 고객으로부터 대가를 받을 권리가 있기 때문입니다. 실무상 간편법이 적용되어 그룹은 법인이 송장을 발행할 권리가 있는 금액으로 관리 서비스 수익을 인식할 수 있습니다. 따라서 매니지드 서비스 수익은 서비스가 제공되는 계약 기간 동안 인식되며, 금액은 고객에게 제공되는 서비스 및 그룹의 수행 의무 충족에 해당하므로 월별 송장 금액을 기준으로 인식됩니다.
Amounts invoiced relating to more than one month are deferred into contract liabilities and recognised over the relevant periods, where the Group has an unconditional right of payment. Invoice payment is generally on industry standard payment terms.
If the total estimated costs and revenues of a contract cannot be reliably estimated, revenue is recognised only to the extent that costs have been incurred and where the Group has an enforceable right to payment as work is being performed. A provision for forecast excess costs over forecasted revenue is made as soon as a loss is foreseen (see note 2.12.1 for further detail). On occasion, the Group may have a limited number of Managed Services contracts where revenue is recognised on a percentage of completion basis, which is determined by reference to the costs incurred as a proportion of the total estimated costs of the contract.
수익 계약을 획득하고 이행하는 데 드는 비용
그룹은 경쟁이 치열한 환경에서 운영되며 여러 경쟁업체와 계약 입찰에 자주 참여하며 일반적으로 계약이 체결되고 서명될 때까지 결과를 알 수 없습니다.
When accounting for costs associated with obtaining and fulfilling customer contracts, the Group first considers whether these costs fit within a specific IFRS standard or policy. Any costs associated with obtaining or fulfilling revenue contracts which do not fall into the scope of other IFRS standards or policies are considered under IFRS 15. All such costs are expensed as incurred, other than the two types of costs noted below:
1. 수주수수료 - 그룹은 성공적인 고객 계약 수주에 대해 특정 직원에게 보너스로 '수주수수료'를 지급합니다. 이는 고객 계약을 체결하는 증분 비용이므로 관련 급여세 비용과 함께 회수될 것으로 예상되는 범위까지 이연됩니다. 이러한 잔액은 연결 대차대조표의 선불로 표시됩니다. 12개월 이상 후에 실현될 우승 수수료 잔액은 비유동으로 공개됩니다.
2. Fulfilment costs - The Group often incurs costs upfront relating to the initial set-up phase of an outsourcing contract, which the Group refers to as 'Entry Into Service'. These costs do not relate to a distinct performance obligation in the contract, but rather are accounted for as fulfilment costs under IFRS 15 as they are directly related to the future performance on the contract. They are therefore capitalised to the extent that they are expected to be recovered. These balances are presented within prepayments in the Consolidated Balance Sheet.
Both types of assets resulting from capitalised win fees and Entry Into Service costs are amortised on a systematic basis that is consistent with the transfer to the customer of the goods and services to which the asset relates over the contract term. The amortisation charges on win fees and Entry Into Service costs are recognised in the Consolidated Income Statement within administration expenses and cost of sales, respectively.
그룹의 중앙 입찰 관리 엔진에 의해 발생한 모든 입찰 비용은 자본화되거나 계약에 부과되지 않으며, 대신 판매, 일반 및 관리 비용이 발생하는 대로 직접 청구됩니다. 입찰과 관련된 이러한 비용은 별도로 식별할 수 없으며 그룹의 내부 입찰 팀이 동시에 여러 입찰에 걸쳐 작업하기 때문에 안정적으로 측정할 수 없습니다.
2.3.4 계약 자산 및 부채
A contract asset is recognised when the Group has a right to consideration for goods or services which have been transferred to the customer but have not been billed, therefore excluding receivable balances. Contract assets typically relate to longer-term Professional and Managed Services contracts where work has been performed but has not been invoiced to the customer, and are included within accrued income on the Consolidated Balance Sheet.
A contract liability is recognised when a customer pays the Group, or the Group has a right to consideration that is unconditional, before the transfer of the goods or services to which it relates. Contract liabilities typically relate to longer-term Professional and Managed Services contracts where consideration has been received under agreed billing timelines for which work has yet to be performed, and are included within deferred income on the Consolidated Balance Sheet.
2.3.5 금융소득
수익은 이자가 발생함에 따라 인식됩니다.
2.4 뛰어난 항목
The Group presents those items of income and expense as exceptional items which, because of the nature and expected infrequency of the events giving rise to them, merit separate presentation to allow shareholders to understand the elements of financial performance in the year, so as to facilitate comparison with prior years and to assess trends in financial performance.
2.5 Adjusted measures
The Group uses a number of non-Generally Accepted Accounting Practice (non-GAAP) financial measures in addition to those reported in accordance with IFRS. The Directors believe that these non-GAAP measures, set out below, assist in providing additional useful information on the underlying trends, performance and position of the Group. The non-GAAP measures are also used to enhance the comparability of information between reporting periods by adjusting for non-recurring or uncontrollable factors which affect IFRS measures, to aid the user in understanding the Group's performance.
Consequently, non-GAAP measures are used by the Directors and Management for performance analysis, planning, reporting and incentive-setting purposes. Adjusted measures have remained consistent with the prior year. However, as with all non-GAAP alternative performance measures, these adjusted measures present some natural limitations in their usage to understand the Group's performance. These limitations include the lack of comparability with non-GAAP and GAAP measures used by other companies and the fact that the results may, from time-to-time, contain the benefit of acquisitions made but exclude the significant costs associated with that acquisition or the amortisation of acquired intangibles. It is therefore not a complete record of the Group's financial performance as compared to its GAAP results. The exclusion of other adjusting items may result in adjusted earnings being materially higher or lower than reported earnings. In particular, when significant acquisition related charges are excluded, adjusted earnings will be higher than reported GAAP-compliant earnings.
이러한 비 GAAP 척도는 총 송장 소득, 조정된 관리 비용, 조정된 영업 이익 또는 손실, 조정된 세전 이익 또는 손실, 조정된 세금, 해당 연도의 조정된 이익 또는 손실, 조정된 주당 수익 및 조정된 희석 주당 수익으로 구성됩니다. 각각 적절하게 앞서 언급한 바와 같이 다음과 같습니다. 취득손익, 중요한 취득과 관련된 비용, 취득한 무형자산의 상각, 이연법인세자산의 활용(초기 인식이 예외 항목 또는 공정한 인수에 대한 가치 조정) 및 이러한 예외 및 기타 조정 항목의 관련 세금 효과. 경영진은 세그먼트 또는 그룹 전체의 기본 성과를 검토할 때 이러한 항목을 고려하지 않기 때문입니다.
Gross invoiced income is based on the value of invoices raised to customers, net of the impact of credit notes and excluding VAT and other sales taxes. This reflects the cash movements from revenue, to assist Management and the users of this announcement in understanding revenue growth on a 'Principal' basis and to assist in their assessment of working capital movements in the Consolidated Balance Sheet and Consolidated Cash Flow Statement. This measure allows an alternative view of growth in adjusted gross profit, based on the product mix differences and the accounting treatment thereon. Gross invoiced income includes all items recognised on an agency basis within revenue, on a gross income billed to customers basis, as adjusted for deferred and accrued revenue.
A reconciliation to adjusted measures is provided in the Chief Financial Officer's review which details the impact of exceptional and other adjusting items when comparing to the non-GAAP financial measures, in addition to those reported in accordance with IFRS. Further detail is also provided within note 4, Segment information.
2.6 자산의 손상
연결실체는 매 보고일마다 자산이 손상될 수 있다는 징후가 있는지를 평가합니다. 그러한 징후가 존재하거나 자산에 대한 연간 손상검사가 필요한 경우, 그룹은 자산의 회수가능액을 추정합니다. 자산에 독립적인 현금흐름이 없는 경우, 자산이 속한 현금창출단위(CGU)에 대해 회수가능액을 평가합니다. 이러한 자산은 해당 자산을 활용하는 CGU 집합 전체에서 테스트됩니다. 회수가능액은 순공정가치와 자산의 사용가치(CGU) 중 큰 금액입니다. 자산의 장부금액이 회수가능액을 초과하는 경우 해당 자산은 손상된 것으로 간주되어 회수가능액으로 감액됩니다. 사용가치를 평가할 때 추정 미래현금흐름은 화폐의 시간가치와 자산의 특정 위험에 대한 현재 시장 평가를 반영하는 세후 할인율을 사용하여 현재 가치로 할인됩니다. 계속영업의 손상차손은 손상된 자산의 기능과 일치하는 비용 항목으로 연결손익계산서에 인식됩니다.
For assets excluding goodwill, an assessment is made at each reporting date whether there is any indication that previously recognised impairment losses may no longer exist or may have decreased. If such indication exists, the Group estimates the asset's or CGU's recoverable amount. A previously recognised impairment loss is reversed only if there has been a change in the assumptions used to determine the asset's recoverable amount since the last impairment was recognised. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years. As the Group has no assets carried at revalued amounts, such reversal is recognised in the Consolidated Income Statement.
2.7 유형자산
Property, plant and equipment is stated at cost less accumulated depreciation and any accumulated impairment losses. Depreciation, down to residual value, is calculated on a straight-line basis over the estimated useful life of the asset as follows:
· freehold buildings: 25-50 years
· short leasehold improvements: shorter of seven years and period to expiry of lease
· fixtures and fittings:
- head office: 5-15 years
- other: shorter of seven years and period to expiry of lease
· office machinery and computer hardware: 2-15 years
- motor vehicles: three years
Freehold land is not depreciated. An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the item) is included in the Consolidated Income Statement in the year the item is derecognised.
2.8 임대
2.8.1 Group as lessee
임대의 인식
The contracts are assessed by the Group, to determine whether a contract is, or contains a lease. In general, arrangements are a lease when all of the following apply:
· 대가에 대한 대가로 특정 기간 동안 식별된 자산의 사용을 통제할 수 있는 권리를 이전합니다.
· 그룹은 자산의 사용으로 인해 실질적으로 모든 경제적 효익을 얻습니다. 그리고
· 그룹은 식별된 자산의 사용을 지시할 수 있습니다.
연결실체는 리스가 아닌 구성요소를 분리하기로 결정했습니다.
사용권자산과 리스부채의 측정
사용권 자산
연결실체는 사용권자산을 원가로 측정하고 있으며, 여기에는 다음이 포함됩니다.
· 리스 시작일 또는 그 이전에 이루어진 리스 지불에 대해 조정된 리스 부채의 초기 금액
· 받은 임대 인센티브; 그리고
· 연결실체에 발생한 초기 직접비용과 기초자산의 해체 및 제거, 기초자산이 위치한 부지의 복원 또는 기초자산을 리스계약에서 요구하는 상태로 복원하는 데 있어서 연결실체가 부담할 추정원가 . 소재지 및/또는 기초자산을 해체, 제거 또는 복원하는 데 드는 비용은 연결회사가 그렇게 할 의무를 부담하는 경우에만 인식됩니다.
사용권자산은 리스기간에 걸쳐 정액법으로 감가상각하고 있습니다.
임대 책임
리스부채는 최초에 미지급 리스료의 현재가치로 측정하고 리스에 내재된 이자율을 사용하여 할인하거나 이자율을 쉽게 결정할 수 없는 경우 연결실체의 증분차입이자율로 측정합니다. 측정에 포함된 리스료는 고정 리스료, 지수나 요율에 따라 달라지는 변동 리스료, 잔존 가치 보증에 따라 지불해야 하는 금액 및 연결실체가 연장할 것이 상당히 확실한 경우 선택적 갱신 기간의 리스료로 구성됩니다. 그룹이 합리적으로 조기 종료할 것이 확실한 경우 리스 조기 종료에 대한 위약금을 포함합니다. 구매 옵션이 있는 경우 그룹이 옵션을 행사할 것이 합리적으로 확실한 경우 포함됩니다.
소액자산 임대 및 단기
Leases of low-value assets (< £5,000) and short term leases with a term of 12 months or less are not required to be recognised on the Consolidated Balance Sheet and payments made in relation to these leases are recognised on a straight-line basis in the Consolidated Income Statement.
2.8.2 임대인으로서의 그룹
The Group has entered into lease agreements as a lessor on certain items of IT equipment and software. Leases for which the Group is a lessor are classified as either operating or finance leases. The Group assesses whether it transfers substantially all the risks and rewards of ownership. Those leases that do not transfer substantially all the risks and rewards are classified as operating leases. Rental income arising from operating leases is accounted for on a straight-line basis over the lease term.
If an arrangement contains lease and non-lease components, then the Group applies IFRS 15 to allocate the consideration of the contract.
The Group applies the derecognition and impairment requirements in IFRS 9 to the net investment in the lease.
연결회사가 중간 리스제공자 역할을 하는 경우, 상위 리스와 전대리스에 대한 지분을 별도로 회계처리합니다.
2.9 무형자산
2.9.1 Software and software licences
Software and software licences include computer software that is not integral to a related item of hardware. These assets are stated at cost less accumulated amortisation and any impairment in value. Amortisation is calculated on a straight-line basis over the estimated useful life of the asset. Currently software is amortised over four years.
장부가액을 회수할 수 없음을 나타내는 사건이나 상황의 변화가 있을 때 소프트웨어 및 소프트웨어 라이센스의 장부가액에 대한 손상 여부를 검토합니다. 그러한 징후가 있고 장부가액이 추정 회수가능액을 초과하는 경우 자산은 회수가능액으로 기록됩니다.
2.9.2 Software under development
Costs that are incurred and that can be specifically attributed to the development phase of management information systems for internal use are capitalised only if the expenditure can be measured reliably, the management information system is technically and commercially feasible, future economic benefits are probable, and the Group intends to and has sufficient resources to complete development and to use the system.
상기 기준을 충족하지 못하는 연구비 및 개발비는 발생시점에 비용으로 인식하고 있습니다. 이전에 비용으로 인식된 개발비는 이후 기간에 자산으로 인식되지 않습니다.
자본화되는 직접 관련 비용에는 일반적으로 전문가 수수료 및 소비된 재료/서비스 비용이 포함됩니다.
자본화 된 개발 비용은 무형 자산으로 기록되며 경영 정보 시스템을 사용할 준비가 된 시점부터 내용 연수 동안 상각됩니다.
Costs associated with maintaining in-use software programs are recognised as an expense as incurred.
2.9.3 기타 무형자산
사업결합의 일부로 취득한 무형자산은 최초에 공정가치로 평가합니다. 무형자산은 최초 인식 후 원가에서 상각누계액과 손상차손을 차감한 금액으로 인식하고 있습니다. 수명이 유한한 무형 자산은 잔존 가치가 없으며 다음과 같이 관리 비용에 포함된 비용과 함께 예상 내용 수명 동안 정액 기준으로 상각됩니다.
· 주문 내역: XNUMX개월 이내
· 기존 고객 관계: 10~15년
· tools and technology: seven years.
무형자산의 장부가치가 회수 불가능할 수 있음을 나타내는 사건이나 상황의 변화가 있을 때마다 무형자산의 장부가치 손상 여부를 검토하고, 예상 내용연수를 매년 검토합니다.
2.9.4 영업권
사업결합은 취득법을 사용하는 IFRS 3 사업결합에 따라 회계처리됩니다. 식별 가능한 자산, 부채 및 우발 부채의 순 공정 가치에 대한 연결실체의 지분을 초과하는 사업 결합 비용은 연결 대차대조표에 영업권으로 인식되며 상각되지 않습니다. 지분법 기업의 취득으로 발생하는 모든 영업권은 해당 기업의 원가에 포함됩니다.
After initial recognition, goodwill is stated at cost less any accumulated impairment losses, with the carrying value being reviewed for impairment at least annually and whenever events or changes in circumstances indicate that the carrying value may be impaired.
For the purpose of impairment testing, goodwill is allocated to the related CGU monitored by Management, usually at business Segment level or statutory Company level as the case may be. Where the recoverable amount of the CGU is less than its carrying amount, including goodwill, an impairment loss is recognised in the Consolidated Income Statement.
2.10 인벤토리
재고자산은 진부하거나 유통속도가 느린 품목을 감안한 후 가중평균원가와 순실현가능가치 중 낮은 금액으로 유지됩니다. 비용에는 선입선출 방식으로 각 제품을 현재 위치와 상태로 가져오는 데 발생한 비용이 포함됩니다.
Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale.
2.11 금융자산
금융자산은 처음에 제공된 대가와 투자와 관련하여 직접 관련되는 거래원가의 합계와 동일한 공정가치로 인식됩니다. 후속적으로 금융자산은 IFRS 9에 따른 분류에 따라 상각후원가 또는 공정가치로 측정됩니다. 연결실체는 현재 채무상품만 보유하고 있습니다. 이러한 채무상품의 분류는 금융자산을 관리하는 연결실체의 사업모델과 현금흐름의 계약조건에 따라 다릅니다.
2.11.1 매출채권
Trade receivables, which generally have 30- to 90-day credit terms, are initially recognised and carried at their original invoice amount less an allowance for any uncollectable amounts. The business model for trade receivables is that they are held for the collection of contractual cash flows, therefore they are subsequently measured at amortised cost. The trade receivables are derecognised on receipt of cash from the customer. The Group sometimes uses debt factoring, without recourse, to manage liquidity and, as a result, the business model for factored trade receivables is that they are not held for the collection of contractual cash flows.
As a result, subsequent to initial recognition, they are measured at fair value through other comprehensive income (except for the recognition of impairment gains and losses and foreign exchange gains and losses, which are recognised in profit or loss).
팩토링된 매출채권은 팩토링 당사자로부터 현금을 수취한 시점에 제거하고 있습니다. 매출채권의 수명이 짧다는 점을 감안할 때, 일반적으로 매출채권의 최초 인식과 제거 사이에 중요한 공정가치 변동은 없습니다.
연결실체는 IFRS 9에서 요구하는 기대신용손실모형을 사용하여 의심스러운 채무(손상)를 평가합니다. 매출채권의 경우 연결실체는 예상수명손실을 최초 인식 시점부터 인식하는 단순화된 접근법을 적용합니다. 물질 또는 고위험 잔액은 다음을 포함한 여러 요인에 따라 개별적으로 검토 및 제공됩니다.
· 고객의 재정 건전성;
· the level of default that the Group has suffered in the past;
· 미지급 채권의 연령; 그리고
· the Group's trading experience with that customer.
2.11.2 현금 및 현금성자산
Cash and short-term deposits in the Consolidated Balance Sheet comprise cash at bank and in hand, and short-term deposits with an original maturity of three months or less. Cash is held for the collection of contractual cash flows which are solely payments of principal and interest and therefore is measured at amortised cost subsequent to initial recognition.
For the purpose of the Consolidated Cash Flow Statement, cash and cash equivalents consist of cash and short-term deposits as defined above, net of outstanding bank overdrafts, as the bank overdrafts form an integral part of the Group's cash management.
2.12 금융부채
금융부채는 최초에 공정가치로 인식되며, 대여금 및 차입금(신용대출 포함)의 경우 직접적으로 관련되는 거래비용을 차감한 순액으로 인식됩니다.
금융부채의 후속 측정은 아래에서 달리 설명하지 않는 한 상각후원가로 측정됩니다.
2.12.1 조항(구조조정 조항 제외)
충당부채는 과거 사건의 결과로 연결실체에 현재의무(법적 또는 의제의무)가 있고, 의무를 이행하기 위해 경제적 효익을 지닌 자원이 유출될 가능성이 높고, 그 의무를 신뢰성 있게 추정할 수 있는 경우에 인식됩니다. 의무 금액.
If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognised as a borrowing cost.
고객 계약 조항
Management continually monitors the financial performance of contracts, and where there are indicators that a contract could result in a negative margin, the future financial performance of that contract will be reviewed in detail. If, after further financial analysis, the full financial consequence of the contract can be reliably estimated, and it is determined that the contract is potentially loss-making, then the best estimate of the losses expected to be incurred until the end of the contract will be provided for.
미래 비용이 미래 수익을 초과할 것으로 예상되는지 여부를 결정할 때 경영진은 고객에게 통합된 생활비 조정(COLA) 조항에 따라 가격을 인상할 수 있는 권리로 상쇄되는 비용 기반에 대한 예상 인플레이션 영향을 고려할 것입니다. 계약.
The Group applies IAS 37 - 'Provisions, Contingent Liabilities and Contingent Assets' in its assessment of whether contracts are considered onerous and in subsequently estimating the provision. The Group's approach is to apply the full cost approach, which considers total estimated costs (i.e. directly attributable variable costs and fixed allocated costs) in the assessment of whether the contract is onerous or not and in the measurement of the provision.
유상계약에 대한 충당금은 손실이 예상되는 시점에 충당금을 지급하며 예상계약종료원가와 증분원가에 기초하여 순계약을 계속하는 예상순원가 중 작은 금액의 현재가치로 측정하고 있습니다. 계약에 따른 의무를 이행하기 위해 필요합니다. 연결실체는 충당부채가 설정되기 전에 해당 계약과 관련된 자산의 손상차손을 인식합니다.
2.12.2 연금 및 기타 퇴직급여
그룹은 영국의 모든 직원이 이용할 수 있는 확정기여형 연금제도를 운영하고 있으며, 관할권에 따라 북미와 독일에서도 유사한 제도가 운영되고 있습니다. 기여금은 제도의 규정에 따라 지불하게 되므로 연결손익계산서에서 비용으로 인식됩니다. 그룹의 해외사업장에는 중요한 연금제도가 없습니다.
그룹은 퇴직 시 프랑스 직원에게 IFC(Indemnités de Fin de Carrière)를 일회성으로 지급할 의무가 있습니다.
프랑스 고용법에 따르면 회사는 직원이 의무 연령에 정년퇴직하는 경우에만 직원에게 일회성 기여금을 지급해야 합니다. 이는 퇴직으로 인해 직원이 떠날 때 의무가 발생하는 모든 사업체에 대한 법적 요구 사항입니다.
Typically, the retirement benefit is based on length of service of the employee and his or her salary at retirement. The amount is set via a legal minimum, but the retirement premiums can be improved by the collective agreement or employment contract in some cases. For Computacenter's French employees, the payment is based on accrued service and ranges from one month of salary after five years of service to 9.4 months of salary after 47 years of service.
If the employee leaves voluntarily at any point before retirement, all liability is extinguished, and any accrued service is not transferred to any new employment.
경영진은 IAS 19(개정)에 따라 이러한 의무를 계속 회계처리합니다.
2.13 Derecognition of financial assets and liabilities
2.13.1 금융자산
A financial asset or, where applicable, a part of a financial asset or part of a group of similar financial assets, is derecognised where:
· 자산으로부터 현금흐름을 받을 권리가 만료되었습니다. 또는
· 그룹은 자산에서 현금 흐름을 수취할 권리를 보유하지만 양도 계약에 따라 제XNUMX자에게 실질적인 지체 없이 현금 흐름을 전액 지급할 의무를 맡았습니다. 또는
· 연결실체는 자산에서 현금흐름을 받을 권리를 이전했고 (a) 자산의 대부분의 위험과 보상을 이전했거나 (b) 자산의 위험과 보상의 대부분을 이전하거나 보유하지 않았지만 자산에 대한 통제권을 이전했습니다.
2.13.2 금융부채
A financial liability is derecognised when the obligation under the liability is discharged, cancelled or expired.
2.14 Derivative financial instruments and hedge accounting
The Group uses foreign currency forward contracts to hedge its foreign currency risks associated with foreign currency fluctuations affecting cash flows from forecast transactions and unrecognised firm commitments.
헤지 관계가 시작될 때 그룹은 헤지 회계를 적용하고자 하는 헤지 관계와 헤지를 수행하기 위한 위험 관리 목표 및 전략을 공식적으로 지정하고 문서화합니다. 문서에는 위험회피수단과 위험회피대상 항목 또는 거래에 대한 식별이 포함되며, 위험회피수단이 위험회피대상 항목의 현금 흐름 변화를 상쇄할 것으로 예상되는지 여부를 포함하여 둘 사이의 경제적 관계가 포함됩니다. 이러한 위험회피는 현금흐름의 변화를 상쇄하는 데 매우 효과적일 것으로 예상됩니다. 연결회사는 선도계약(선도포인트 포함)의 공정가치 전체 변동을 위험회피수단으로 지정합니다. 선도계약은 계약 체결일에 공정가치로 최초 인식되며 이후 매 보고기간말에 공정가치로 재측정됩니다. 통화선도계약의 공정가치는 유사한 만기 프로필을 가진 계약의 현재 선도환율을 참조하여 계산됩니다. 선도계약은 공정가치가 양수이면 자산으로, 공정가치가 음수이면 부채로 기록됩니다.
위험회피회계의 목적상, 인식된 자산이나 부채와 관련된 특정 위험, 가능성이 매우 높은 예측 거래 또는 외화 위험으로 인한 현금흐름 변동에 대한 노출을 위험회피할 때 위험회피는 현금흐름 위험회피로 분류됩니다. 인식할 수 없는 확고한 약속 속에서.
위험회피회계기준을 충족하는 현금흐름위험회피는 다음과 같이 회계처리됩니다. 위험회피수단 손익 중 유효한 부분은 현금흐름위험회피적립금의 기타포괄손익으로 직접 인식하고, 비효과적인 부분은 현금흐름위험회피적립금으로 즉시 인식합니다. 관리 비용의 연결 손익 계산서.
연결포괄손익계산서에 인식된 금액은 헤지금융비용을 인식하는 등 헤지거래가 연결손익계산서에 영향을 미치는 경우 관리비 항목 내에서 연결손익계산서로 대체됩니다.
예측거래나 확정계약이 더 이상 발생하지 않을 것으로 예상되는 경우, 이전에 자본으로 인식한 누적손익은 관리비용 내에서 연결손익계산서로 대체됩니다. 위험회피수단이 만료되거나 대체나 연장 없이 매각, 종료 또는 행사되는 경우, 이전에 연결포괄손익계산서에서 인식한 누적손익은 예측거래나 확정약정이 연결포괄손익계산서에 영향을 미칠 때까지 연결포괄손익계산서에 그대로 유지됩니다. 손익 계산서.
Any other gains or losses arising from changes in fair value on forward contracts are taken directly to administrative expenses in the Consolidated Income Statement.
2.15 과세
2.15.1 현행 세금
Current tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the balance sheet date.
2.15.2 이연법인세
이연법인세는 자산과 부채의 세무표준과 연결재무제표상의 장부금액 사이에서 발생하는 모든 일시적차이에 대해 인식됩니다. 단, 다음은 제외됩니다.
· where the temporary difference arises from the initial recognition of goodwill or from an asset or liability in a transaction that is not a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss;
· 종속기업, 관계기업 및 합작투자에 대한 투자와 관련된 가산할 일시적차이의 경우, 일시적차이의 소멸 시점이 통제될 수 있고 예측 가능한 미래에 일시적차이가 소멸되지 않을 가능성이 높은 경우 그리고
· deferred income tax assets are recognised only to the extent that it is probable that taxable profit will be available in the future against which the deductible temporary differences, carried forward tax credits or tax losses can be utilised.
Deferred income tax assets and liabilities are measured on an undiscounted basis at the tax rates that are expected to apply when the related asset is realised or liability is settled, based on tax rates and laws enacted, or substantively enacted, at the balance sheet date.
소득세가 연결포괄손익계산서에 기입되거나 부과되는 항목과 관련된 경우, 법인세는 연결포괄손익계산서에 직접 부과되거나 기입됩니다. 그렇지 않으면 연결손익계산서에 소득세가 인식됩니다.
2.16 주식기준보상거래
그룹의 직원(임원 포함)은 주식 또는 주식에 대한 권리와 교환하여 서비스를 제공하는 주식 기준 지불 거래(주식 결제 거래)의 형태로 보수를 받을 수 있습니다.
The cost of equity-settled transactions with employees is measured by reference to the fair value of the award at the date at which they are granted. The fair value is determined by utilising an appropriate valuation model. In valuing equity-settled transactions, no account is taken of any performance conditions, as none of the conditions set are market related.
주식결제형 거래의 원가는 성과 및/또는 용역조건이 충족된 기간 동안 해당 종업원이 보상을 받을 권리를 완전히 갖게 되는 날까지의 기간에 걸쳐 자본의 증가와 함께 인식하고 있습니다. 날짜).
The cumulative expense recognised for equity-settled transactions at each reporting date, until the vesting date, reflects the extent to which the vesting period has expired and the Directors' best estimate of the number of equity instruments that will ultimately vest. The Consolidated Income Statement charge or credit for a period represents the movement in cumulative expense recognised as at the beginning and end of that period. As the schemes do not include any market-related performance conditions, no expense is recognised for awards that do not ultimately vest.
연결 대차대조표에 기록된 보상과 관련된 추정 고용주의 국민 보험 책임의 움직임은 연결 손익계산서에서 인식됩니다.
미결제 옵션의 희석 효과는 주당 이익 계산 시 추가 주식 희석으로 반영됩니다(주석 8 참조).
The Group has an employee share trust for the granting of non-transferable options to Executive Directors and senior Management. Shares in the Group held by the employee share trust are treated as investment in own shares and are recorded at cost as a deduction from equity.
2.17 Own shares held
Computacenter plc shares held by the Group are classified in shareholders' equity as 'own shares held' and are recognised at cost. Consideration received for the sale of such shares is also recognised in equity, with any difference between the proceeds from sale and the original cost being taken to reserves. No gain or loss is recognised in the performance statements on the purchase, sale, issue or cancellation of equity shares. These shares are held in Computacenter Employee Benefit Trust which is called "Employee share ownership Plan" (ESOP). Computacenter being the sponsoring entity has control over the ESOP under IFRS 10 as Computacenter makes the decisions on how the ESOP operates per the following criteria:
· Computacenter has power over the relevant activities of the ESOP
· Computacenter has exposure, or rights, to variable returns from its involvement with the ESOP
· Computacenter has the ability to use its power over the ESOP to affect the amount of the ESOP returns
As the IFRS 10 criteria are satisfied, Computacenter ESOP is accounted for under IFRS 10 and is consolidated on the basis that the parent (Computacenter plc) has control, thus the assets and liabilities of the ESOP are included on the Company's Balance Sheet and the Group's Consolidated Balance Sheet. The shares held by the ESOP are presented as a deduction from equity within the Consolidated Statement of Changes in Equity under the 'own shares held' column.
2.18 공정가치 측정
연결실체는 특정 금융상품을 매 대차대조표일에 공정가치로 측정합니다.
공정가치는 측정일에 시장참여자 간의 정상거래에서 자산을 매각할 때 수취하거나 부채를 이전하면서 지급하게 될 가격입니다.
자산이나 부채의 공정가치는 시장참여자가 경제적 최선의 이익을 위해 행동한다는 가정 하에 시장참여자가 자산이나 부채의 가격을 결정할 때 사용할 가정을 사용하여 측정됩니다.
연결실체는 상황에 적합하고 공정가치를 측정하는 데 충분한 데이터가 이용 가능한 평가기법을 사용하며, 관련 관측 가능한 투입변수의 사용을 최대화하고 관측 불가능한 투입변수의 사용을 최소화합니다.
3 중요한 회계 추정 및 판단
연결재무제표를 작성하려면 경영진이 그룹의 회계정책을 적용하는 데 있어 판단을 내려야 합니다. 또한 보고된 자산, 부채, 수입 및 지출 금액에 영향을 미치는 추정 및 가정을 사용해야 합니다.
이러한 중요한 판단과 추정을 내릴 때 내재된 불확실성으로 인해 실제 결과는 다를 수 있습니다.
During the year, Management reconsidered the critical accounting estimates and judgements for the Group. This process included reviewing the last reporting period's disclosures, the key judgements required on the implementation of forthcoming standards and the current period's challenging accounting issues. Where Management deemed there is a change for an area of accounting to be considered a critical estimate or judgement, an explanation for this decision is provided in note 3.3.
3.1 Critical estimates
추정치와 기본 가정은 지속적으로 검토되며, 수정 사항은 추정치가 수정된 연도와 향후 영향을 받는 연도에 인식됩니다. 다음 회계연도에 자산과 부채의 장부금액이 크게 조정될 중대한 위험이 있는 영역은 없습니다.
3.2 비판적 판단
연결재무제표에 인식되는 금액에 가장 중요한 영향을 미치는 연결실체의 회계정책을 적용하는 과정에서 경영진이 내린 판단은 다음과 같습니다.
3.2.1 청구 및 보류
연결실체는 고객과의 청구 및 보유 약정을 통해 수익의 일부를 창출합니다. 이는 고객이 송장을 받았지만 서면 계약에서 고객의 요청에 따라 제품이 나중까지 고객에게 배송되지 않을 때 발생합니다. 적절한 수익인식시점을 결정하기 위하여 통제가 고객에게 이전되었는지를 평가합니다.
A bill and hold arrangement is only put in place when a customer lacks the physical space to store the product or the product previously ordered is not yet needed in accordance with the customer's schedule and the customer wants to guarantee supply of the product. In order to determine whether an arrangement is bill and hold and control has been transferred to the customer, a customer request must have been approved and all of the below criteria must have been met :
a) the reason for the bill and hold arrangement must be substantive (for example, the customer has requested the arrangement);
b) the product must be identified separately as belonging to the customer;
c) the product currently must be ready for physical transfer to the customer; and
d) the Group cannot have the ability to use the product or to direct it to another customer.
Judgement is required to determine if all of the criteria (a) to (d) have been met, to recognise a bill and hold sale. This is determined by segregation and readiness of inventory and the review and approval of all customer requests, in order to assess whether the accounting policy had been correctly applied to recognise a bill and
hold sale.
£407.6m of product sold is held by the Group for bill and hold transactions as at 31 December 2023 (2022: £386.9m).
3.3 Change in critical estimates and critical judgements
해당 연도 동안 경영진은 중요한 추정치와 중요한 판단을 재평가했습니다.
At its 20 April 2022 meeting, the IFRS Interpretation Committee (the Committee) finalised and approved its agenda decision in response to a submission from a valued added reseller to determine whether an entity should treat revenue from the resale of standard software licences on a principal or agent recognition basis under IFRS 15 Revenue from Contracts with Customers (IFRS 15).
As noted in our 2022 Annual Report and Accounts, the Group revised its accounting policies accordingly and implemented a series of system and process changes. The impact of this is to make the determination of Agent vs Principal routine and embedded within the transactional flows of the business, reducing significantly the day-to-day judgement required. Therefore, Management has concluded that the level of judgement now involved in Technology Sourcing principal versus agent recognition will not result in a significant effect on the amounts recognised in the Consolidated Financial Statements and this is no longer considered a critical judgement.
Exceptional items are no longer considered a critical judgement by Management and have therefore been removed from the above disclosure, as reported exceptional items are not material and do not involve a significant level of judgement.
Apart from the changes discussed above, the critical accounting estimates and judgements reported in the Group's 2022 Annual Report and Accounts are unchanged.
4 세그먼트 정보
The Segment information is reported to the Board and the Chief Executive Officer. The Chief Executive Officer is the Group's Chief Operating Decision Maker (CODM). The Group has the same operating Segments and reporting Segments and these remain unchanged from those reported at 31 December 2022.
The Segmental reporting structure is the basis on which internal reports are provided to the Chief Executive Officer, as the CODM, for assessing performance and determining the allocation of resources within the Group, in accordance with IFRS 8.25. Segmental performance is measured based on external revenues, gross profit, adjusted operating profit and adjusted profit before tax. Central Corporate Costs continue to be disclosed as a separate column within the Segmental note.
Segmental performance for the years ended 31 December 2023 and 31 December 2022 was as follows:
연말 31 12월 2023 | UK £ m | 독일 £ m | 프랑스 £ m | North America* £ m | 국제 노동자 동맹 £ m | 본부 Corporate 비용 £ m | 금액 £ m |
수익 | |||||||
기술소싱 수익 | |||||||
총 송장 수입 | 1,938.1 | 2,111.5 | 728.5 | 3,454.4 | 212.4 | - | 8,444.9 |
대리인으로 인정된 소득에 대한 총 송장 소득 조정 | (1,166.3) | (849.7) | (248.6) | (851.8) | (42.2) | - | (3,158.6) |
총 기술 소싱 수익 | 771.8 | 1,261.8 | 479.9 | 2,602.6 | 170.2 | - | 5,286.3 |
서비스 수익 | |||||||
전문 서비스 | 132.2 | 365.4 | 50.8 | 118.7 | 11.7 | - | 678.8 |
관리 서비스 | 309.7 | 400.3 | 132.8 | 27.4 | 87.5 | - | 957.7 |
총 서비스 수익 | 441.9 | 765.7 | 183.6 | 146.1 | 99.2 | - | 1,636.5 |
총 수익 | 1,213.7 | 2,027.5 | 663.5 | 2,748.7 | 269.4 | - | 6,922.8 |
결과 | |||||||
매출 총 이익 | 250.8 | 374.5 | 87.3 | 267.5 | 63.9 | - | 1,044.0 |
조정된 관리 비용 | (192.0) | (211.5) | (78.6) | (202.5) | (44.1) | (43.8) | (772.5) |
조정영업이익/(손실) | 58.8 | 163.0 | 8.7 | 65.0 | 19.8 | (43.8) | 271.5 |
조정된 순이자 | 5.5 | 1.0 | (0.8) | 1.7 | (0.9) | - | 6.5 |
조정 손익/세전 손실 | 64.3 | 164 | 7.9 | 66.7 | 18.9 | (43.8) | 278.0 |
예외 항목: | |||||||
- unwinding of discount relating to acquisition of a subsidiary | (3.2) | ||||||
- gain relating to acquisition of a subsidiary | 2.8 | ||||||
- 자회사 취득에 따른 기타소득 | 5.3 | ||||||
총 예외 항목 | 4.9 | ||||||
취득한 무형자산의 상각 | (10.8) | ||||||
과세 전 소득 | 272.1 |
* Included within the North America Segment total revenue of £2,748.7m is an amount of £2,703.4m revenue for the United States of America.
The reconciliation of adjusted operating profit to operating profit as disclosed in the Consolidated Income Statement is as follows:
연말 31 12월 2023
| 금액 £ m |
조정 된 영업 이익 | 271.5 |
취득한 무형자산의 상각 | (10.8) |
예외 품목 | 8.1 |
영업 이익 | 268.8 |
연말 31 12월 2023 | UK £ m | 독일 £ m | 프랑스 £ m | North America* £ m | 국제 노동자 동맹 £ m | 본부 Corporate 비용 £ m | 금액 £ m |
기타 구간 정보 | |||||||
재산, 식물 및 장비 | 31.7 | 40.7 | 5.5 | 9.9 | 8.3 | - | 96.1 |
사용권 자산 | 9.0 | 45.4 | 14.3 | 18.8 | 17.0 | - | 104.5 |
무형 자산 | 54.8 | 17.1 | 10.2 | 225.8 | 14.5 | - | 322.4 |
자본 지출: | |||||||
재산, 식물 및 장비 | 5.7 | 7.8 | 1.6 | 2.4 | 4.4 | - | 21.9 |
사용권 자산 | 3.5 | 13.2 | 1.7 | 2.8 | 12.6 | - | 33.8 |
소프트웨어 | 12.0 | 0.3 | - | 0.2 | 0.7 | - | 13.2 |
유형 자산의 감가 상각 | 6.2 | 6.9 | 1.6 | 3.6 | 2.1 | - | 20.4 |
사용권 자산 감가 상각 | 4.6 | 20.5 | 5.3 | 5.4 | 5.6 | - | 41.4 |
소프트웨어 상각 | 5.7 | 0.4 | 0.1 | 1.4 | 0.5 | - | 8.1 |
주식 기반 지불 | 2.7 | 1.8 | 0.1 | 0.3 | - | 2.8 | 7.7 |
* Included within the North America segment Intangible assets of £225.8m is an amount of £218.4m Intangible assets for the United States of America.
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연말 31 12월 2022
| UK £ m | 독일 £ m | 프랑스 £ m | North America* £ m | 국제 노동자 동맹 £ m | 본부 Corporate 비용 £ m | 금액 £ m |
수익 | |||||||
기술소싱 수익 | |||||||
총 송장 수입 | 1,864.2 | 1,704.7 | 606.7 | 3,131.7 | 174.3 | - | 7,481.6 |
대리인으로 인정된 소득에 대한 총 송장 소득 조정 | (1,055.1) | (551.6) | (170.9) | (773.8) | (30.3) | - | (2,581.7) |
총 기술 소싱 수익 | 809.1 | 1,153.1 | 435.8 | 2,357.9 | 144.0 | - | 4,899.9 |
서비스 수익 | |||||||
전문 서비스 | 147.5 | 315.7 | 41.7 | 122.5 | 9.2 | - | 636.6 |
관리 서비스 | 312.8 | 374.7 | 136.4 | 26.9 | 83.2 | - | 934.0 |
총 서비스 수익 | 460.3 | 690.4 | 178.1 | 149.4 | 92.4 | - | 1,570.6 |
총 수익 | 1,269.4 | 1,843.5 | 613.9 | 2,507.3 | 236.4 | - | 6,470.5 |
결과 | |||||||
매출 총 이익 | 259.2 | 325.1 | 76.7 | 238.3 | 47.8 | - | 947.1 |
조정된 관리 비용 | (178.7) | (184.2) | (69.6) | (185.3) | (36.5) | (23.7) | (678.0) |
조정영업이익/(손실) | 80.5 | 140.9 | 7.1 | 53.0 | 11.3 | (23.7) | 269.1 |
조정된 순이자 | 2.6 | (2.2) | (0.8) | (4.2) | (0.8) | - | (5.4) |
조정 손익/세전 손실 | 83.1 | 138.7 | 6.3 | 48.8 | 10.5 | (23.7) | 263.7 |
예외 항목: | |||||||
- unwinding of discount relating to acquisition of a subsidiary | (2.0) | ||||||
- 자회사 인수와 관련된 비용 | (1.8) | ||||||
총 예외 항목 | (3.8) | ||||||
취득한 무형자산의 상각 | (10.9) | ||||||
과세 전 소득 | 249.0 |
* Included within the North America segment Total revenue of £2,507.3m is an amount of £2,470.0m revenue for the United States of America.
The reconciliation of adjusted operating profit to operating profit as disclosed in the Consolidated Income Statement is as follows:
31년 2022월 XNUMX일 종료
| 금액 £ m |
| |||||||
조정 된 영업 이익 | 269.1 |
| |||||||
취득한 무형자산의 상각 | (10.9) |
| |||||||
예외 품목 | (1.8) |
| |||||||
영업 이익 | 256.4 |
| |||||||
연말 31 12월 2022
| UK £ m | 독일 £ m | 프랑스 £ m | North America* £ m | 국제 노동자 동맹 £ m | 본부 Corporate 비용 £ m | 금액 £ m | ||
기타 구간 정보 | |||||||||
재산, 식물 및 장비 | 29.6 | 40.7 | 5.6 | 11.7 | 6.5 | - | 94.1 | ||
사용권 자산 | 10.3 | 53.8 | 18.2 | 22.5 | 14.6 | - | 119.4 | ||
무형 자산 | 49.5 | 17.5 | 10.4 | 250.6 | 14.1 | - | 342.1 | ||
자본 지출: | |||||||||
재산, 식물 및 장비 | 7.2 | 7.8 | 2.2 | 3.9 | 2.6 | - | 23.7 | ||
사용권 자산 | 2.6 | 22.6 | 4.8 | 10.5 | 4.5 | - | 45.0 | ||
소프트웨어 | 10.5 | 0.5 | 0.3 | 0.1 | 0.4 | - | 11.8 | ||
유형 자산의 감가 상각 | 6.9 | 6.8 | 2.2 | 3.3 | 2.3 | - | 21.5 | ||
사용권 자산 감가 상각 | 4.6 | 30.2 | 4.9 | 5.5 | 5.3 | - | 50.5 | ||
소프트웨어 상각 | 5.7 | 0.4 | 0.1 | 1.4 | 0.4 | - | 8.0 | ||
주식 기반 지불 | 4.2 | 1.9 | 0.1 | 0.7 | - | 1.7 | 8.6 | ||
* Included within the North America segment Intangible assets of £250.6m is an amount of £242.3m Intangible assets for the United States of America.
Charges for the amortisation of acquired intangibles (where initial recognition was an exceptional item or a fair value adjustment on acquisition) are excluded from the calculation of adjusted operating profit. This is because these charges are based on judgements about their value and economic life, are the result of the application of acquisition accounting rather than core operations, and whilst revenue recognised in the Consolidated Income Statement does benefit from the underlying asset that has been acquired, the amortisation costs bear no relation to the Group's underlying ongoing operational performance. In addition, amortisation of acquired intangibles is not included in the analysis of Segment performance used by the CODM.
주요 고객 정보
Included in revenues arising from the North American Segment are revenues of approximately £1,511.0m (2022: £963.1m) which arose from sales to the Group's largest customer.
5년 수익
연결손익계산서에 인식된 수익은 다음과 같이 분석됩니다.
2023 £ m | 2022 £ m | |
유형별 수익 | ||
총 송장 수입 | 8,444.9 | 7,481.6 |
대리인으로 인정된 소득에 대한 총 송장 소득 조정 | (3,158.6) | (2,581.7) |
Technology Sourcing revenue* | 5,286.3 | 4,899.9 |
서비스 수익 | ||
전문 서비스 | 678.8 | 636.6 |
관리 서비스 | 957.7 | 934.0 |
총 서비스 수익 | 1,636.5 | 1,570.6 |
총 수익 | 6,922.8 | 6,470.5 |
* Included within the amount of Technology Sourcing revenue shown above is £85.3m (2022: £42.1m) recognised under IFRS 16. All other Technology Sourcing revenue is recognised at a point in time under IFRS 15 as described in our accounting policy 2.3.1.
계약 잔액
다음 표는 고객과의 계약에 따른 계약자산과 계약부채에 대한 정보를 제공합니다.
31 12월 2023 £ m | 31 12월 2022 £ m | ||
매출 채권 | 1,471.8 | 1,659.7 | |
Contract assets, which are included in prepayments | 19.6 | 23.7 | |
Contract assets, which are included in accrued income | 151.9 | 129.2 | |
이연수익에 포함되는 계약부채 | 234.6 | 273.2 |
The prepayments balance within the Consolidated Balance Sheet of £150.0m consists of £19.6m contract assets and £130.4m other prepayments.
The Group has implemented an expected credit loss impairment model with respect to contract assets which are included in accrued income using the simplified approach. These contract assets have been grouped on the basis of their shared risk characteristics and a provision matrix has been developed and applied to these balances to generate the loss allowance. The majority of these contract asset balances are with blue chip customers and the incidence of credit loss is low. There has therefore been no material adjustment to the loss allowance under IFRS 9. Specific provisions are made against material or high-risk balances based on trading experience or where doubt exists about the counterparty's ability to pay. The expected credit losses on contract assets which are within accrued income are considered to be immaterial.
계약자산과 부채의 중요한 변동
Contract assets are balances due from customers under long-term contracts as work is performed and therefore a contract asset is recognised over the period in which the performance obligation is fulfilled. This represents the Group's right to consideration for the services transferred to date. Amounts are generally reclassified to trade and other receivables when these have been certified or invoiced to a customer. Refer to note 2.11.1 for credit terms of trade receivables.
The decrease in trade receivables mainly in the North American Segment is driven by higher cash collections due to operational improvements and the continued easing of supply chain conditions for the customers, in addition to the impact of timing of large deals.
Win fees, deferred contract costs and fulfilment costs are included in the prepayments balance above. The Consolidated Income Statement impact of the win fees was a recognition of a net loss in 2023 of £0.9m, with a corresponding credit to income tax of £0.2m for the year. As at 31 December 2023, the win fee balance was £10.5m. The Consolidated Income Statement impact of fulfilment costs was a recognition of a net cost in 2023 of £0.1m, with a corresponding tax charge of £0.1m for the year.
As at 31 December 2023, the deferred contract costs balance was £4.2m and the fulfilment costs balance was £4.9m. No impairment loss was recorded for win fees, deferred contract costs or fulfilment costs during the year.
Revenue recognised in the reporting period from movement in accrued income balances was £27.1m, with a credit to foreign exchange of £4.4m. No impairment loss was recorded for accrued income during the year.
Revenue recognised in the reporting period that was included in the contract liability balance at the beginning of the period was £122.3m. No revenue was recognised in the reporting period from performance obligations that were satisfied or partially satisfied in previous periods.
남은 이행의무(수작업)
Contracts which have remaining performance obligations as at 31 December 2023 and 31 December 2022 are set out in the table below. The table below discloses the aggregate transaction price relating to those remaining performance obligations, excluding both (a) amounts relating to contracts for which revenue is recognised as invoiced and (b) amounts relating to contracts where the expected duration of the ongoing performance obligation is one year or less.
관리 서비스 | 미만 일년 £ m | 일대일 이년 £ m | XNUMX ~ 삼 년 £ m | 세 사 년 £ m | 사 년 이후 £ m | 금액 £ m |
31 년 2023 월 XNUMX 일 기준 | 747.4 | 528.4 | 370.3 | 194.6 | 152.0 | 1,992.7 |
31 년 2022 월 XNUMX 일 기준 | 729.1 | 513.2 | 374.0 | 266.7 | 226.8 | 2,109.8 |
The duration of most contracts is between one and five years. However some contracts will vary from these typical lengths. Revenue is typically earned over these varying timeframes.
6 뛰어난 항목 | 2023 £ m | 2022 £ m |
영업 이익 | ||
자회사 취득에 따른 기타소득 | 5.3 | - |
자회사 인수 관련 비용 | - | (1.8) |
자회사 인수 관련 이익 | 2.8 | - |
Exceptional operating profit/(loss) | 8.1 | (1.8) |
자회사 인수 관련 이자비용 | (3.2) | (2.0) |
Profit/(loss) on exceptional items before taxation | 4.9 | (3.8) |
소득세 | ||
자회사 인수 관련 세액공제 | - | 0.2 |
과세 후 예외 항목에 대한 손실 | 4.9 | (3.6) |
2023년에는 다음과 같은 예외 항목이 포함됩니다.
· £3.2m relating to the unwinding of the discount on the contingent payment for the purchase of BITS has been classified as exceptional interest costs. This is consistent with our prior-year treatment.
· A $9.3m (£7.4m) settlement was received on 8 May 2023 from the Washington State Department of Revenue. The settlement related to litigation contesting a historic, pre-acquisition, sales tax assessment that was paid by antecedent companies related to the acquired Pivot group of companies. Of this amount, $6.7m (£5.3m) has been recognised as other income relating to acquisition of a subsidiary for the refunded sales tax amount. This other income is non-operational in nature, material in size and unlikely to recur, and has therefore been classified as exceptional. Further amounts of $1.6m (£1.3m) and $1.0m (£0.8m) have been credited to adjusted interest income, for the refund of statutory overpayment interest receivable on the original payment, and adjusted administrative expenses, to reimburse legal expenses incurred since acquisition, respectively.
· £2.8m relating to a release of contingent consideration in relation to the BITS acquisition. As this release is related to the acquisition and not operational activity within BITS and is of a one-off nature, it was classified as an exceptional item.
7 소득세
a) Tax on profit from ordinary activities
| 2023 £ m | 2022 £ m |
Tax charged in the Consolidated Income Statement | ||
현재 소득세 | ||
영국 법인세 | 13.6 | 15.1 |
외국 세금: | ||
- operating results before exceptional items | 64.0 | 49.0 |
- 예외적인 아이템 | - | (0.2) |
Total foreign tax | 64.0 | 48.8 |
전년도에 대한 조정 | 2.1 | (5.1) |
총 당기 소득세 | 79.7 | 58.8 |
이연 법인세 | ||
Operating results before exceptional items: | ||
- 일시적 차이의 발생과 역전 | 0.3 | 1.0 |
- 세율 변경 | (0.5) | 0.6 |
- 이전 연도에 대한 조정 | (6.8) | 4.4 |
총 이연 법인세 | (7.0) | 6.0 |
연결손익계산서상 부과되는 세금 | 72.7 | 64.8 |
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b) 세금 총액의 조정 | 2023 £ m | 2022 £ m |
소득세 전 이익 | 272.1 | 249.0 |
At the UK standard rate of corporation tax of 23.5% (2022: 19%) | 63.9 | 47.3 |
세금 목적으로 공제되지 않는 비용 | 2.8 | 1.2 |
Non-deductible element of share-based payment charge | (0.1) | 2.3 |
전년도에 대한 조정 | (4.7) | (0.7) |
다른 관할권에서 운영되는 자회사의 다른 세율의 영향 | 12.0 | 17.6 |
세율 변경 | (0.5) | 0.6 |
다른 차이점 | (0.1) | 0.5 |
소득을 기준으로 하지 않는 해외 세금 | 1.5 | 1.1 |
미인식 세무상 결손금을 이연법인세비용 절감에 활용 | - | (3.2) |
현재의 세금 비용을 줄이기 위해 이전에 인식되지 않은 세금 손실이 사용되었습니다. | (0.9) | (0.9) |
과세소득 결정 시 과세되지 않는 소득의 세금효과 | (1.2) | (1.0) |
At effective income tax rate of 26.7% (2022: 26.0%) | 72.7 | 64.8 |
Taxation for subsidiaries operating in other jurisdictions is calculated at the rates prevailing in the respective jurisdictions, these being a blended rate of 31% in Germany (2022: 32%) and a blended (Federal/State) rate of 26% in the US (2022: 25%), which mainly drive the 'Effect of different tax rates of subsidiaries operating in other jurisdictions' above.
c) 세금 손실
Deferred income tax assets of £3.7m (2022: £3.9m) have been recognised in respect of losses carried forward, primarily in France.
In considering the probable utilisation of the carried forward tax losses, and therefore the likely recoverability of these assets, the Group makes an assessment based upon a reasonably foreseeable timeframe, being typically up to three years, taking into account the future expected profit profile and business model of each relevant company or country. The reasonably foreseeable timeframe is derived based on the confidence the Group has in the performance of these companies or countries and therefore the reliability of forecasts over the timeframe in which the asset would be recovered. If the reasonably foreseeable timeframe is extended to five years for our French business, an additional £2.3m (2022: £0.9m) of deferred income tax asset would be recognised.
As at 31 December 2023, there were further unused tax losses across the Group of £284.2m (2022: £293.5m) for which no deferred income tax asset has been recognised. Of these losses, £256.1m (2022: £263.5m) arise in France, £26.4m (2022: £26.3m) arise in Germany and £1.8m (2022: £3.7m) arise in the Netherlands. No deferred tax has been recognised on these losses due to the potential uncertainty around whether future taxable profits would be available against which these tax losses can be utilised. Following the merger of CC France SAS and Computacenter NS (CCNS), a request has been made to the French tax authorities to preserve the historic tax losses of CCNS (£172.3m) and a decision is pending in this regard. A significant proportion of the losses arising in Germany have been generated in statutory entities that no longer have significant levels of trade.
The Group has other timing differences, primarily in France, of £30.1m (2022: £28.7m), for which no deferred tax asset has been recognised. These timing differences mainly relate to the retirement benefit obligation which is of a long-term nature. The amount that would be recognised over our reasonably foreseeable timeframe of up to three years would therefore be immaterial.
In addition, there are unutilised capital tax losses as at 31 December 2023 of £7.4m (2022: £7.4m) but no deferred tax asset has been recognised as it is not considered probable that these losses will be utilised in the foreseeable future.
d) 이연법인세
Deferred income tax as at 31 December 2023 and 31 December 2022 relates to the following:
통합 대차 대조표 | 통합 손익 계산서 | 통합 포괄손익계산서 | ||||
2023 £ m | 2022 (재설명*) £ m | 2023 £ m | 2022 £ m | 2023 £ m | 2022 £ m | |
이연법인세 자산/(부채) | ||||||
재산, 식물 및 장비 | (3.1) | (3.2) | (2.1) | (5.8) | - | - |
사용권 자산 | (26.6) | (31.1) | 4.2 | 0.3 | - | - |
무형 자산 | (19.9) | (29.9) | 8.0 | (0.2) | - | - |
재고 | 2.5 | 3.9 | (2.0) | (0.9) | - | - |
파생 금융 상품 | 0.1 | 1.2 | - | - | (0.9) | 1.0 |
리스 부채 | 27.9 | 32.4 | (4.1) | (0.2) | - | - |
주식 기반 지불 | 8.0 | 6.8 | 0.4 | (0.8) | - | - |
이월된 세금 손실 | 3.7 | 3.9 | - | 3.2 | - | - |
기타 일시적인 차이 | 5.6 | 6.6 | 2.6 | (1.6) | - | - |
이연법인세(수수료)/세액공제 | 7.0 | (6.0) | (0.9) | 1.0 | ||
순이연법인세자산/(부채) | (1.8) | (9.4) | ||||
연결대차대조표에 공시 | ||||||
이연 법인세 자산 | 11.6 | 11.3 | ||||
이연 법인세 부채 | (13.4) | (20.7) | ||||
순이연법인세자산/(부채) | (1.8) | (9.4) |
*Deferred tax on right-of-use assets and lease liabilities has been grossed up in 2022 following the adoption of IAS 12 amendments relating to the initial recognition exemption (note 2). This has no impact on the Consolidated Balance Sheet.
Computacenter가 미송금 수익의 송금 또는 기타 실현 시기를 통제할 수 있고 가까운 미래에 송금 또는 실현 가능성이 없는 자회사에 대한 그룹의 투자와 관련하여 이연 법인세는 인식되지 않습니다.
e) 현재 및 미래의 세금 부과에 영향을 미치는 요소
The March 2021 Budget announced that a UK Corporation tax rate of 25% will apply with effect from 1 April 2023, and this change was substantively enacted on 11 March 2021. The deferred income tax in the summary financial information within this announcement reflects this. The main rate of UK Corporation tax in 2022 and up to 31 March 2023 was 19%, as enacted in the Finance Act 2020.
The Group is within the scope of the Organisation for Economic Cooperation and Development (OECD) Pillar Two model rules. UK legislation has been enacted which introduces the OECD's Pillar Two model Income Inclusion Rules into UK law, where Computacenter Plc is incorporated. Finance (No2) Act received Royal Assent on 11 July 2023 meaning the Income Inclusion Rule (IIR) and the UK's Domestic Top-up Tax (DTT) will come into effect for accounting periods beginning on or after 31 December 2023. Draft legislation has now been published to introduce the OECD's Undertaxed Profits Rule (UTPR) to the UK. This is due to be in place for accounting periods commencing not before 31 December 2024.
Since the Pillar Two legislation was not effective at the reporting date, the Group has no related current tax exposure. The Group applies the exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to IAS 12 issued in May 2023.
Under the legislation, the Group is liable to pay a top-up tax for the difference between the Pillar Two Global anti-Base Erosion (GloBE) effective tax rate per jurisdiction and the 15% minimum rate. The Group is currently engaged with tax specialists to assist it with applying the legislation. An initial review by the tax specialist has indicated that the Group does not expect to experience a material impact on its effective tax rate as a result of the OECD Pillar Two model rules.
f) Uncertain tax positions
The Group operates in numerous jurisdictions and has ongoing tax audits and open tax matters with certain tax authorities which mainly relate to interpretation of how relevant tax legislation applies to the Group's transfer pricing arrangements. The matters under discussion can be complex and often take several years to resolve. The Group records a provision against uncertain tax positions based on Management's estimate of either the most likely amount or the expected value amount depending on which method is expected to better reflect the resolution of the uncertainty.
The potential exposure of the Group to an unfavourable outcome in any uncertain tax matter is not expected to result in material additional tax expense or liabilities and therefore the amounts, where already recognised, are not material and are considered appropriate for the current status of the matters under review.
8 주당 순이익
주당순이익은 보통주에 귀속되는 이익을 당해년도 가중평균유통보통주식수(보유주식수 제외)로 나누어 계산합니다.
희석주당이익을 계산하기 위해서는 모든 희석성 잠재주식의 전환을 가정하여 가중평균발행보통주식수를 조정합니다. 행사가격이 당해연도 회사 보통주의 평균시장가격보다 낮은 경우에 종업원에게 부여된 주식선택권은 희석성잠재주로 간주됩니다.
2023 £ m | 2022 £ m | |
지배기업의 주주에게 귀속되는 이익 | 197.6 | 182.8 |
2023 m | 2022 m | |
기본가중평균주식수(자사보유주식수 제외) | 112.9 | 112.8 |
희석 효과: | ||
공유 옵션 | 1.2 | 2.1 |
희석가중평균주식수 | 114.1 | 114.9 |
2023 펜스 | 2022 펜스 | |
주당 기본 수입 | 175.0 | 162.1 |
희석 주당 이익 | 173.2 | 159.1 |
9 Analysis of changes in net funds | 1월 XNUMX일 2023 £ m | 현금 흐름 년에 £ m | 비현금 흐름 £ m | 교환 차이 £ m | 31월 XNUMX일 2023 £ m |
현금 및 단기 예금 | 264.4 | 207.6 | - | (0.8) | 471.2 |
현금 및 현금성 자산 | 264.4 | 207.6 | - | (0.8) | 471.2 |
은행 대출 | (20.1) | 6.9 | - | 1.0 | (12.2) |
조정된 순자금(리스 부채 제외) | 244.3 | 214.5 | - | 0.2 | 459.0 |
리스 부채 | (127.1) | 46.1 | (30.7) | (3.7) | (115.4) |
순자금 | 117.2 | 260.6 | (30.7) | (3.5) | 343.6 |
1월 XNUMX일 2022 £ m | 현금 흐름 년에 £ m | 비현금 흐름 £ m | 교환 차이 £ m | 31월 XNUMX일 2022 (재설명*) £ m | |
현금 및 단기 예금* | 285.2 | (13.6) | - | (7.2) | 264.4 |
Bank overdrafts* | (12.0) | 12.0 | - | - | - |
현금 및 현금성 자산 | 273.2 | (1.6) | - | (7.2) | 264.4 |
은행 대출 및 신용 시설 | (31.8) | 12.9 | - | (1.2) | (20.1) |
조정순자금 (리스부채 제외) | 241.4 | 11.3 | - | (8.4) | 244.3 |
리스 부채 | (146.1) | 55.2 | (28.7) | (7.5) | (127.1) |
순자금 | 95.3 | 66.5 | (28.7) | (15.9) | 117.2 |
* Refer to note 2 for restatement of prior-year comparatives.
10 특수관계자 거래
During the year, the Group entered into transactions, in the ordinary course of business, with related parties. Transactions entered into are as described below:
Biomni Limited provides the Computacenter e-procurement system used by many of Computacenter's major customers. An annual fee has been agreed on a commercial basis for use of the software for each installation. Both Peter Ogden and Philip Hulme are Directors of and have a material interest in Biomni Limited. Biomni Limited ceased to be a related party on 22 December 2023.
The table below provides the total amount of transactions that have been entered into with related parties for the relevant financial year:
2023 £ m | 2022 £ m | |
바이오옴니 리미티드 | ||
특수관계자에 대한 판매 | - | - |
관계자로부터 구매 | 0.9 | 0.6 |
There was no outstanding balance as at 31 December 2023 (31 December 2022: nil).
In addition to the above, a relative of a Director of the Company is employed by a subsidiary of the Company under normal terms and conditions and with remuneration commensurate with the role. Total remuneration for 2023 was £0.2m (2022: £0.2m).
특수관계자와의 거래조건
연말의 미결제 잔액은 무담보이며 현금으로 정산됩니다. 특수관계자 채권과 관련하여 제공받은 보증은 없습니다. 연결실체는 특수관계자 채무액과 관련하여 예상신용손실충당금을 인식하지 않았습니다. 이 평가는 특수관계자의 재무 상태와 특수관계자가 활동하는 시장을 조사하여 매 회계연도에 수행됩니다.
Compensation of key management personnel (including Directors)
The Board of Directors is identified as the Group's key management personnel. A summary of the compensation of key management personnel is provided below: | 2023 £ m | 2022 £ m |
단기 직원 혜택 | 3.7 | 2.1 |
사회 보장 비용 | 0.9 | 0.5 |
주식 기준 지불 거래 | 1.9 | 3.7 |
연금 비용 | 0.1 | 0.1 |
주요 경영진에게 지급된 보상총액 | 6.6 | 6.4 |
충수:
대체 성능 측정
Alternative Performance Measures are used by the Group to understand and manage performance. These are not defined under International Financial Reporting Standards (IFRS) or UK-adopted International Accounting Standards (UK-IFRS) and are not intended to be a substitute for any IFRS or UK-IFRS measures of performance but have been included as Management considers them to be important measures, alongside the comparable Generally Accepted Accounting Practice (GAAP) financial measures, in assessing underlying performance. Wherever appropriate and practical, we provide reconciliations to relevant GAAP measures. The table below sets out the basis of calculation of the Alternative Performance Measures and the rationale for their use.
캠페인 측정 | 상품 설명 | 이론적 해석 |
Adjusted net funds and net funds | Adjusted net funds or adjusted net debt includes cash and cash equivalents, other short- or long-term borrowings and current asset investments. Following the adoption of IFRS 16, this measure excludes all lease liabilities recognised under IFRS 16. Net funds is adjusted net funds including all lease liabilities recognised under IFRS 16. | A table reconciling this measure, including the impact of lease liabilities, is provided within note 9 to the summary financial information within this announcement. |
Adjusted (expense and profit) measures | Adjusted administrative expense, adjusted operating profit or loss, adjusted profit or loss before tax, adjusted tax, adjusted profit or loss, adjusted earnings per share and adjusted diluted earnings per share are, as appropriate, are each stated before: exceptional and other adjusting items, including gains or losses on business acquisitions and disposals, amortisation of acquired intangibles, utilisation of deferred tax assets (where initial recognition was as an exceptional item or a fair value adjustment on acquisition), and the related tax effect of these exceptional and other adjusting items. · Recurring items include purchase price adjustments, including amortisation of acquired intangible assets and adjustments made to reduce deferred income arising on acquisitions and acquisition-related items. Recurring items are adjusted each period irrespective of materiality, to ensure consistent treatment. · Non-recurring items are those that Management judge to be one-off or non-operational, such as gains and losses on the disposal of assets, impairment charges and reversals, and restructuring related costs. | Adjusted measures exclude items which in Management's judgement need to be disclosed separately by virtue of their size, nature or frequency to aid understanding of the performance for the year or comparability between periods. Adjusted measures allow Management and investors to compare performance without these recurring or non-recurring items. Management does not consider these items when reviewing the underlying performance of the Segment or the Group as a whole. A reconciliation to adjusted measures is provided within the Chief Financial Officer's review, which details the impact of exceptional and other adjusted items when compared to the non-GAAP financial measures, in addition to those reported in accordance with IFRS. Further detail is provided within note 4 to the summary financial information within this announcement. |
일정한 통화 | We evaluate the long-term performance and trends within our strategic KPIs on a constant-currency basis. The performance of the Group and its overseas Segments are also shown, where indicated, in constant currency. The constant currency presentation, which is a non-GAAP measure, excludes the impact of fluctuations in foreign currency exchange rates. | We believe providing constant currency information gives valuable supplemental detail regarding our results of operations, consistent with how we evaluate our performance. |
무료 현금 흐름 | Free Cash Flow is Cash Flow from Operations minus net interest received, interest and payments related to lease liabilities, income tax paid and gross capital expenditure. | 부채 상환에 사용할 수 있는 기간 동안 영업 활동으로 생성된 현금을 측정하려면 인수를 수행하거나 주주에게 분배합니다. |
Gross invoiced income and IFRS revenue | Gross invoiced income is based on the value of invoices raised to customers, net of the impact of credit notes and excluding VAT and other sales taxes. Gross invoiced income includes all items recognised on an 'agency' basis within revenue, on a gross income billed to customers basis, as adjusted for deferred and accrued revenue. A reconciliation of revenue to gross invoiced income is provided within note 4 to the summary financial information within this announcement. IFRS revenue refers to revenue recognised in accordance with International Financial Reporting Standards including IFRS 15 ' Revenue from Contracts with Customers' and IFRS 16 'Leases'. | Gross invoiced income reflects the cash movements to assist Management and the users of the Annual Report and Accounts in understanding revenue growth on a 'principal' basis and to assist in their assessment of working capital movements in the Consolidated Balance Sheet and Consolidated Cash Flow Statement. This measure allows an alternative view of growth in adjusted gross profit, based on the product mix differences and the accounting treatment thereon. |
유기적(수익 및 이익) 측정 | In addition to the adjustments made for adjusted measures, organic measures: · exclude the contribution from discontinued operations, disposals and assets held for sale of standalone businesses in the current and prior period; · exclude the contribution from acquired businesses until the year after the first full year following acquisition; and · adjust the comparative period to exclude prior-period acquired businesses if they were acquired part-way through the prior period. 수익 및 기여도 영향이 중요하지 않은 취득 및 처분은 조정되지 않습니다. | Organic measures allow management and investors to understand the like-for-like revenue and current-period margin performance of the continuing business. The result for the year benefited from £221.4m of revenue (2022: £187.1m), and £9.3m of adjusted profit before tax (2022: £7.1m), resulting from all acquisitions made since 1 January 2022. All figures reported throughout this Annual Report and Accounts include the results of these acquired entities. The results of these acquisitions are excluded where narrative discussion refers to 'organic' growth in this Annual Report and Accounts. |
Product order backlog | The total value of committed outstanding purchase orders placed with our technology vendors against non-cancellable sales orders received from our customers for delivery within 12 months, on a gross invoiced income basis. | The Technology Sourcing backlog, alongside the Managed Services Contract Base and the Professional Services forward order book, allows us visibility of future revenues in these 지역. |
사용 자본 수익률(ROCE) | ROCE is calculated as adjusted operating profit, divided by capital employed, which is the closing total net assets excluding adjusted net funds. | As an indicator of the current period financial return on the capital invested in the company. |
RNS는 귀하의 IP 주소를 사용하여 약관 준수 여부를 확인하고, 귀하가 이 커뮤니케이션에 포함된 정보를 사용하는 방식을 분석하고, 그러한 분석을 익명으로 다른 사람과 상용 서비스의 일부로 공유할 수 있습니다. RNS와 런던 증권 거래소가 귀하가 제공한 개인 데이터를 사용하는 방법에 대한 자세한 내용은 개인 정보 보호 정책을 참조하십시오.