Financial Performance - Anacle reported revenue of SGD 23.8 million and a net profit of SGD 372,000 for FY2023, compared to SGD 23.2 million and SGD 2.3 million in FY2022, indicating a revenue increase of 2.6% and a significant profit increase of 16.5%[8]. - The gross profit for FY2023 was SGD 11.85 million, reflecting a 24.5% increase compared to SGD 9.52 million in FY2022[19]. - Adjusted EBITDA for FY2023 was SGD 2.19 million, down from SGD 3.69 million in FY2022, indicating a decrease of 40.5%[19]. - Anacle Systems Limited's net profit for FY2023 was SGD 372,304, a significant decrease from SGD 2.37 million in FY2022[19]. - The pre-tax profit for the fiscal year 2023 decreased by 77.8% to SGD 489,865 from SGD 2,204,067 in fiscal year 2022[55]. - The adjusted pre-tax profit for 2023 was SGD 178,702, down from SGD 1,765,052 in 2022[57]. - The company reported a cash balance of SGD 11,853,222, down from SGD 15,770,924 in 2022[65]. Revenue Composition - The proportion of recurring revenue increased from 44.4% in FY2022 to 70.5% in FY2023, while gross margin improved from 41.0% to 49.8%[8]. - The revenue from the combined Simplicity® software business grew by 1% from SGD 22.3 million in FY2022 to SGD 22.5 million in FY2023, with recurring revenue rising from 42.0% to 69.6%[9]. - The company achieved a significant increase in recurring revenue, with Simplicity® and Starlight® contributing 69.6% and 86.9% of total revenue respectively[22]. - The total revenue for Simplicity® solutions was SGD 22.5 million, with recurring revenue contributing SGD 15.65 million, marking a significant shift towards maintenance and support models[30]. - The revenue from the Simplicity® RE solution decreased by 51.7% due to a slowdown in the commercial real estate sector, while recurring revenue surged by 185.8%, now accounting for 53.9% of total revenue[30]. - The Simplicity® UT solution saw a substantial revenue increase of 38.2%, with recurring revenue rising by 88.5%, driven by increased spending from the existing customer base[31]. - Starlight® business segment revenue increased by 34.6%, from SGD 0.962 million in the previous year to SGD 1.295 million, largely due to rising energy prices stimulating utility sector customer spending[34]. Market Expansion and Strategy - The company established an office in Sydney and plans to set up an office in Tokyo in FY2024, indicating market expansion efforts[11]. - The company aims to enhance sales and marketing efforts targeting the Asia-Pacific region, including Southeast Asia, Australia, New Zealand, and East Asia[23]. - Anacle Systems Limited plans to establish an office in Japan in the fiscal year 2024 as part of its expansion strategy, alongside a recently opened office in Australia[23]. Operational Challenges - The company acknowledges ongoing challenges in the commercial real estate sector, with global office occupancy rates down by 35.7% compared to pre-pandemic levels[13]. - The company faced challenges in the real estate market, particularly in the office sector, but continued to see strong demand for workflow automation software in Southeast Asia[21]. - The company has adapted to changing industry standards and government regulations, maintaining product performance and reliability to stay competitive[77]. Investment and Costs - The company invested strategically in cybersecurity tools to enhance cloud infrastructure, which impacted performance in the first two quarters but began to yield positive results[22]. - Research and development costs for Simplicity® surged by 414.6% to SGD 1.63 million in 2023, reflecting significant investments in cybersecurity and cloud infrastructure[51]. - Administrative expenses rose by 26.0% to SGD 6.44 million in 2023, primarily due to increased employee compensation and training expenses for SOC 2 compliance[54]. - Sales and marketing expenses increased by 76.6% to SGD 2.17 million in 2023, attributed to the establishment and operation of the Australian office and enhanced marketing efforts[45]. Corporate Governance - The company reported its fiscal year 2023 financial results ending May 31, 2023, with compliance to all applicable corporate governance codes[108]. - The board emphasizes the importance of integrating good corporate governance elements into the management structure and internal controls[108]. - The company is committed to protecting and enhancing shareholder value through robust corporate governance practices[108]. - The board has recognized the significance of effective accountability in risk management procedures[108]. - The board consists of 8 members, with over 60% being non-executive and independent non-executive directors[115]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee specific aspects of the group's affairs[127]. Shareholder Relations - The company has adopted a shareholder communication policy to ensure timely and equal access to information for shareholders[160]. - The company encourages shareholders to propose resolutions at extraordinary general meetings, as there are no provisions for proposals at annual general meetings[156]. - The company has not declared a final dividend for FY2023, consistent with FY2022[172]. Employee Development - The company is committed to employee development, providing internal training and potentially sponsoring external training programs[78]. - The company aims to foster a diverse workforce and provide a nurturing environment for talent development[112]. - The company has taken proactive measures to retain and attract top talent in a competitive market[77].
安科系统(08353) - 2023 - 年度财报