PPHC announces interim financial results for the first half of 2022

PPHC interim results for the six months ended 30 June 2022

Strong performance driven by organic revenue growth, high client retention, increased demand for new capabilities and expertise

Washington DC, US, 22 September 2022, Public Policy Holding Company (AIM: PPHC), a leading bi-partisan, full-service US government affairs business, today announces its interim results for the six months ended 30 June 2022, which show continued organic growth and strong trading momentum into the second half.

Financial highlights

*      Strong financial performance, driven by increased activity levels from new and existing clients, with organic revenue growth of 9.6% to $51.7m

*      Underlying EBITDA of $14.4m with underlying EBITDA margin of 27.9%

*      High client retention during the period as PPHC continues to see a high level of mandate from its blue-chip client base for its offerings of public affairs, crisis management, lobbying and issue advocacy, research, and media management services

*      Increased investment in notable new hires across the holding and operating companies following IPO, in line with management’s expectations

*      Strong cash generation with an increase in net cash of 35.2% to $17.9m

*      Interim dividend of $0.045 per Common Share, in line with the Group’s dividend policy stated at the time of IPO

Group revenue$51.7m$47.2+9.6%
Underlying EBITDA1$14.4m$14.5m-0.6%
Underlying EBITDA margin27.9%30.8%-2.9ppts
Underlying profit before tax1$14.4m$14.4m-0.5%
Net Cash2$17.9m$13.2m+35.2%
Interim dividend per Common Share$0.045N/AN/A
1Underlying EBITDA and underlying profit before tax are stated prior to non-cash items of amortisation of customer intangibles, LTIP expense and ASC 718-10-S99-2 share-based accounting charge. For the prior period both measures are presented on a normalised, illustrative basis and calculated on the basis that 25% of pre-bonus EBITDA is paid as bonus in line with the Group’s policy post IPO. See the Financial Review below for further detail.

2Net cash excludes long term operating lease liability

Read the full results statement here.