Softline Publishes Annual Report for 2021 Financial Year

Softline Holding PLC [SFTL, US83407L2079] (Softline, Softline Group, the Group, or the Company), the global IT and cyber-security solutions provider headquartered in London and operating in almost 60 countries, published its Annual Report for the 2021 financial year ending 31st March 2022.

The report showcases the company’s outstanding performance during the period:

Turnover growth of 26% constant currency year-over-year to $2.2 Billion.
85% growth in the Services business (which includes the company’s Cloud, cyber-security and future workplace solutions)
Profitability grew by 39% in constant currency to $306m while gross Profit margin increased by 130bps to 13.9%.
The Group’s adjusted EBITDA grew by 29.2% to $67.3m.
Successful IPO on the London Stock Exchange raising $400 million
The company’s global growth strategy continued to demonstrate success. The 2021 financial year saw major expansion in key markets including the Middle East and Asia-Pacific territories, with year-over-year turnover growth in the EMEA and APAC regions of 298% and 65% respectively.

In addition to the very strong financial metrics, the report details the company’s progress during the period on its Environmental, Social & Governance programmes. The Group published its first ESG and Modern Slavery Statements during the 2021 financial year, as well as embarking on a slew of charitable endeavours in both India and Latin America. In the report, the company affirms its plans to establish ESG KPIs, as well as sign up to the UN Global Compact and SHE Index, in the year to come.

The report also details Softline’s plans for continued growth and expansion over the coming year, as it continues to deliver on its ‘Dream 2.0’ objectives to continue momentum following its IPO. These goals include operating in 100 countries, which it expects to achieve in the mid-term, as well as providing a platform for further consolidation of the sector.

A copy of the Annual Report and letter to shareholders can be accessed here: https://softline.com/investor-relations/results-presentations

Jacques Guers, Chairman of the Board of Directors of Softline Group, said:
“We delivered outstanding results in FY2021 during a period of unprecedented change in our market. This performance reflects the hard work, disciplined execution, and dedication of our 8,400 talented Softliners around the world who are focused on creating consistent value for our customers – while we also deliver on our commitments for all other stakeholders, including shareholders, vendor-partners, and employees.”

Roy Harding, Chief Executive Officer of Softline Group, noted:
“Softline is a story of growth, and FY2021 was a year of significant milestones for Softline. It is a little over six months since we became a public company and, in that short space of time, we have made bold moves to drive our business forward – both at speed and at scale, resulting in significant achievements which deliver on the promises we made to the market. We are operating at scale with $2.2B of turnover this year, delivering solutions and services for our customers in almost 60 countries. Customers and vendors need a trusted global partner to help drive digital transformation, and Softline is exceptionally well positioned to do just that.”