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Targeting Margin Recovery in FY24

Esker U.S. reported FY23 results in line with Edison Group’s expectations. Revenue grew 12% (14% constant currency) while inflationary effects and sales commissions on bookings outperformance in H223 resulted in operating profit declining 16% y-o-y. The high level of contracts signed towards the end of FY23 provide good support for revenue growth in FY24 and FY25 and measures taken by management to improve productivity should drive margin expansion over Edison’s forecast period back into the company’s target range of 12–15%.

1 May 2024

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