Newmark Security PLC (AIM:NWT) CEO Marie-Claire Dwek talked with Proactive about the company's impressive financial results for 2024.
Dwek highlighted a 10% increase in group revenue, rising to £22.3 million, with notable performances across its divisions. EBITDA saw a significant boost of 50%, reaching £2.2 million, while operating profit grew to £800,000. Cash generated from operations increased by over £1 million year-on-year, with cash in the bank reaching £1.1 million.
Dwek emphasized the success of the company's Human Capital Management (HCM) division, particularly in the U.S. and European markets.
Here’s the interview:
Proactive: I'm joined by Newmark Security CEO Marie-Claire Dwek. Marie-Claire, very good to see you today. You've reported a strong showing for your 2024 year. Can you take us through the financial highlights of the year, please?
Marie-Claire Dwek: Of course, with the greatest of pleasure. Group revenue has grown once again, increasing by 10% to £22.3 million, with key partnership successes across the business and strong performances in both our people and data management and physical divisions.
EBITDA also increased by 50% to £2.2 million in 2024, compared to £1.5 million last year. Operating profit also grew and rose to £800,000 from £300,000 the previous year.
Cash generated from operations was £2.8 million, against £1.7 million last year, and cash in the bank was £1.1 million at the end of the year, rising from £600,000.
So it's been another solid year of growth, with top-line revenues growing 6% to £16.5 million, and an improved gross profit contribution of £0.5 million to £6.5 million at a 39% margin.
Proactive: Marie-Claire, you mentioned your Human Capital Management (HCM) division saw rising demand from existing customers as well as new large client wins. How does that position the division for the year ahead?
Marie-Claire Dwek: It places us in an excellent position. We have a strong pipeline for the year ahead, and as we continue to onboard new customers in both the US and Europe, we are prioritizing attached services to new business with existing partners.
We're also displacing competitors by offering a sliding scale pricing, driving competitive advantage at both ends of the market. For full share of wallet, we attach premium services to our higher-quality products.
Proactive: You said in the RNS that GT Connect continues to be a driving force in HCM's growth strategy. Can you expand on that?
Marie-Claire Dwek: Absolutely. GTI Connect is now a central cloud-based hub for all our HCM products. It connects 24,000 devices and supports 9 million monthly clock-ins.
Through continuous development, it has become a powerful platform that reduces time to market for new products and accelerates onboarding for new customers. GT Connect's open architecture lets us quickly integrate new customers while embedding new features into their solutions seamlessly.
Proactive: Turning to Safetell, growth has been strong. You mentioned a 23% revenue increase. What’s driving that growth?
Marie-Claire Dwek: We’re gaining market share in auto-door servicing nationally and regionally, winning new projects with differentiated physical security products. We're also expanding in entrance control through partnerships, including rising demand from banks and retailers.
These partnerships provide high-profile references, which is key to our business development.
Proactive: And finally, your outlook for the 2025 financial year?
Marie-Claire Dwek: I'm extremely excited and optimistic. I believe we have the right strategy and the right team to execute it. We're focused on numerous growth opportunities and look forward to another positive year ahead.