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Company News Summary

Xero Provides FY 2019 Annual Results

16 May 2019  |  08:06:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Market release - FY19 annual results

Xero provided FY 2019 annual results. Net loss for the year increased to $27.1m primarily due to impairments in the first half of the year, with a net profit of $1.4m achieved in the second half of the year. EBITDA of $73.2m increased from $48.2m in the prior period year, while EBITDA excluding impairments increased 84% to $91.8m. A positive free cash flow result, of $6.5m was delivered for the first time, equating to 1.2% of operating revenue. It raised US$300m ($451m) via an innovative convertible note offering, demonstrating investor confidence in the business. Funds raised provide the flexibility to execute acquisitions and investments that will enhance and extend its small business platform and ecosystem.

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