Atturra ticks off bumper year with $178M revenue

Publicly listed managed services provider Atturra has ended financial year 2023 on a high with a 32.5 per cent rise in revenue to $178 million. 

For the year ending 30 June, underlying earnings before interest, tax, depreciation and amortisation (underlying EBITDA) rose by 38.8 per cent to $21 million and profit after tax rose by 41.8 per cent to $10.6 million 

The year saw Atturra embark on a significant acquisition spree, splashing out $15 million on The Somerville Group and $6.5 million on Hammond Street Developments. 

The acquisitions helped drive Atturra’s customer base to 70 new clients during FY23 and its employee footprint to 800 people based in Australia, New Zealand, Hong Kong, which it opened earlier this month, and Singapore.  

“I am proud to announce today that Atturra has continued to deliver ongoing strong growth while exceeding overall profit objectives,” said Atturra CEO Stephen Kowal. 

“This result reinforces the strength of our strategy ensuring we have leadership positions in key technologies and industries.” 

Looking ahead, Atturra told shareholders it is focusing on industries with a high barrier to entry, for example Defence requiring security clearances, which, it claims helps client retention. 

From a technology, Atturra is looking at “high-growth” technologies such as Boomi and Smartsheet and specialist technologies, such as webMethods, OpenText and QAD. 

Atturra also told shareholders that its business strategy is to target 20-to-25 per cent revenue growth per annum with a mix of approximately 50 per cent organic and 50 per cent acquisitive growth. 

In November 2022, Atturra successfully conducted a $25 million capital raise for acquisition funding to support these industry and technology strategies.