1Spatial (SPA)

Business description

1Spatial’s core technology validates, rectifies and enhances customers’ geospatial data. The combination of its software and advisory services reduces the need for costly manual checking and correcting of data.

Stock data

Market cap.£22.1m
Last close2.90p
High / Low (52 weeks)4.2p / 2.8p
Stock market listingLN
Forecast net cash (£m)0.7
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(4.9)(26.6)(27.5)
Relative *(10.3)(24.3)(28.7)

* % Relative to local index

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Company news

Investment summary

1Spatial’s trading update flagged that group performance is expected to be in line with expectations. The core GIS business traded better than expected at both the revenue and EBITDA levels, but a deterioration in prospects for the non-core Enables business has prompted a disposal of 80.1% of this business to management for £1. While the low consideration is underwhelming, our investment case has always been predicated on the growth and recovery prospects for GIS. It is encouraging that GIS performance is tracking ahead and greater focus on this business should support both prospects and the investment case.

Last updated on 06/04/2018

Y/E Jan Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2016A 18.3 2.9 1.1 0.16 18.1 N/A
2017A 22.1 (0.4) (2.4) (0.33) N/A N/A
2018E 23.8 0.7 (0.6) (0.08) N/A 54.6
2019E 25.6 1.2 (0.2) (0.03) N/A 16.1

Last updated on 03/04/2018

Latest research

Latest video

Bitesize Briefing - 1Spatial

Industry outlook

The GIS industry is large and growing – P&S Market Research estimates the global GIS software, services and hardware market at $9.0bn, forecasting a 10.1% CAGR to reach $17.5bn by 2023. Software is estimated to account for around half of this market at present, with growth forecast at c 9% through 2023, whereas the revenue opportunity for services is expected to grow more rapidly – at c 12% from around $3.5bn at present.

Last updated on 06/04/2018

Key management

Andy Roberts , Chairman
Claire Milverton, CEO
Nicole Payne, Financial Accountant

Company address

Tennyson House
Cambridge Business Park, Cowley Road,
Cambridge
Cambridgeshire
CB4 0WZ
United Kingdom
+44 (0)1223 420414
View website