Eleco Public Limited Company AIM:ELCO
- Incorporated
- United Kingdom
- Chief executive
- Jonathan Hunter
- Employees
- 314
- Reports in
- GBP
- Companies House
- 00354915
Read straight from the annual reports
230p at close on 5 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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Recurring revenue growth (SaaS, maintenance, support, subscriptions, hosting)
Recurring revenue up 26% to £31.3m (2024: £24.9m), 81% of total revenue (2024: 77%); annualised recurring revenue (ARR) up 29% to £34.3m.
page 7Acquisition of Pemac (CMMS), completed 14 January 2025
Reported revenue growth 20% (19% constant currency); organic growth 11% excluding acquisitions. Pemac was acquired for £6.4m total consideration.
page 7Scale and high gross margin on software revenue
Gross margin 89.6% (2024: 89.3%), up 30 basis points; cost of sales £4.0m. Management cites increasing scale and enhanced gross profit as drivers.
page 39Integration of acquisitions with lower gross margins and hosting cost pressures
CFO: integrating acquisitions with 'historically lower gross margins' and ongoing organic cost pressures from hosting software providers held back gross margin gains.
page 39£2.3m charge: Impairment of Veuze GmbH subsidiary (goodwill £1,826k and customer relationships £417k) - pre-tax, post-tax £1,757k
page 70Chairman: 'In 2025 Eleco delivered growth across all market expectations ... We continue to deliver on our strategic objectives to further scale and enhance the Group both organically and inorganically.' The Board is 'confident of the financial outlook in 2026'.
page 6Acquisition of 100% of Kivue Ltd (UK, Reading; PPM software, Perform) completed 10 February 2026 for an enterprise value of £2.3m (c£1.84m cash from existing resources and c£0.46m equity, settled by issue of 337,353 new 1p ordinary shares). Initial accounting under IFRS 3 not complete at report date.
page 104Board describes a 'progressive and sustainable dividend policy'. FY2025 total dividend 1.20p (interim 0.35p paid 13 October 2025 and final 0.85p proposed, +21% on the 0.70p prior-year final); final payable 3 July 2026 to shareholders on the register on 19 June 2026, ex-dividend 18 June 2026. Dividends paid in 2025 totalled £868k (2024: £700k).
page 6Unmodified (clean) opinion from RSM UK Audit LLP dated 27 April 2026: financial statements give a true and fair view. No key audit matters reported. Going concern: no material uncertainty identified, based on 18-month cash flow forecasts to June 2027 and the Group's cash of £16.3m with an undrawn £1.0m overdraft; Directors adopt the going-concern basis.
page 67- Product and competitive risk: competitors may develop functionally superior products or adopt AI faster; loss of customers and revenue (principal risk 1).p.30
- Artificial intelligence: AI-enabled competitor products and customers building in-house tools could erode demand; staff could inadvertently share confidential data with external AI tools (principal risk 2).p.31
- Cyber attack on Eleco products and infrastructure, including disruption to SaaS services and theft of confidential customer data (principal risk 3).p.32
- People: inability to attract and retain employees; loss of key staff; workforce shortages in some markets (employee turnover 8.7% regretted, 2024: 6.9%) (principal risk 4).p.33
Read from C000414-AR-2025-ch.
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 30 Apr 2027