Altium (ASX:ALU) earnings improve from Covid-19 impacts

Company News

by Lauren Evans

Electronic design software company Altium (ASX:ALU) has posted its half year results for the six months ending December 31.

The company’s revenue rose 27.8 per cent to $142 million ($US102.2 million) while EBITDA lifted 28.9 per cent to 48.3 million ($US34.8 million) and net profit after tax lifted 37.7 per cent to $31.9 million ($US22.9 million). 

The company said double-digit revenue growth was shown in all regions except China, which grew by 6 per cent as it felt the temporary impact of regional Covid lockdowns. Altium’s core PCB business grew by 16 per cent to $110 million (US$79 million).

“While I am very pleased with our first half performance, we must maintain intensity and focus in the second half, as our first half performance should be compared to a low-base last year that was impacted by Covid and the business and organisational model changes that we made as we pivoted to the cloud," said chief executive officer Aram Mirkazem.

Altium has declared an interim dividend of 21 cents per share, up from 19 cents per share paid a year ago.

Shares in Altium (ASX:ALU) are trading 9.4 per cent lower at $31.22. 

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