Cerillion AIM:CER
- Founded
- 1999 · London, England
- Incorporated
- United Kingdom
- Chief executive
- L T Hall
- Employees
- 370
- Reports in
- GBP
- Companies House
- 09472870
Provider of billing, charging and customer relationship management software (BSS/OSS) for telecoms operators worldwide, sold increasingly as long-term SaaS contracts. Formed via a management buyout from Logica; consistently high margins and a large forward order book from multi-year carrier deals.
Read straight from the annual reports
700p at close on 2 Oct 2026 · 11 reported years, 2015–2025
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GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
11 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Existing customers (acquired before the reporting period) generated 93% of total revenue (2024: 85%)
As is typical, existing customers accounted for a very high proportion of total revenue, generating 93% of the overall result
page 7Record new orders of £47.6m (+25%), driven by two major wins
£25.3m composite deal with existing European tier-1 mobile customer; $11.4m (£8.5m) new customer win with Ucom in Armenia
page 6Gross margin improvement to 81.5% (2024: 80.5%)
Higher day rates on key implementation projects, favourable licence revenue mix and lower third-party costs
page 8Adjusted EBITDA margin record 50.9% (2024: 47.4%), +350bps
Higher revenue, favourable FX and higher day rates on key implementation projects
page 5"Cerillion remains well-positioned and we enter the new financial year with a record back-order book and exciting prospects in the new business pipeline. The Company's very strong financial foundations support our growth plans and we view future prospects with great confidence." - Louis Hall, CEO
page 6A historic customer dispute (software modules/alleged breach of contract dating to 2022) was settled during the reporting period; the settlement was fully paid by the Group's insurers in October 2025, and the financial statements have been adjusted to reflect the settlement and related insurance recovery.
page 86Progressive dividend policy linked to profit growth and strong cash generation. FY25 total dividend per share 15.4p (+17%), comprising 4.8p interim (paid) and 10.6p proposed final (2024: 13.2p total, 4.0p interim/9.2p final). Final dividend subject to AGM approval on 19 February 2026, payable 24 February 2026 to shareholders on the register at 16 January 2026 (ex-div 15 January 2026).
page 8Directors and PwC (unmodified/unqualified audit opinion) concluded the going concern basis is appropriate, based on net assets of £59,606,000 and cash of £34,399,000, with sufficient headroom under a severe-but-plausible downside scenario (material reduction in new sales and delays to contracted receipts) tested over 12+ months. Key audit matters: revenue recognition (group) and impairment of investment in subsidiaries (parent); overall group materiality £575,500 (2.5% of EBITDA).
page 32- Dependence on key personnel/management team, difficult to replace, strong competition for skilled staffp.12
- Foreign currency fluctuations/devaluations given 92% of revenue is generated outside the UK, with no hedging contracts in placep.13
- Changes in telecoms industry demand: declining product pricing, potential economic downturn reducing customer telecoms expenditure, declining voice/fixed-line volumesp.13
- Rapid technological change in telecoms could render products obsolete or require costly redevelopmentp.14
Read from C000272-AR-2025-ch-2.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 26 Nov 2026