TDCX (US:TDCX)2022-03-09 12:29Financial Performance - Total revenue for FY2021 reached US$410.7 million, representing a year-on-year growth of 27.7%[4] - Profit for the period was US$76.8 million, reflecting a year-on-year increase of 20.6%[4] - Adjusted EBITDA for FY2021 was US$136.9 million, marking a year-on-year growth of 29.4%[4] - For FY2022, the company expects revenue to be between US$510 million and US$519 million, indicating a year-on-year growth of approximately 25.3% at the midpoint[8] - Basic earnings per share for the full year ended December 31, 2021, was US$0.601, compared to US$0.52 for the full year ended December 31, 2020[23] - Total comprehensive income for the full year ended December 31, 2021, was US$72.2 million, up from US$64.1 million in 2020[23] - Profit for the year rose by 20.6% to S$103.8 million (US$76.8 million) compared to S$86.1 million (US$63.7 million) in the previous year[54] - Profit before income tax for the full year ended December 31, 2021, was US$97.712 million, up from US$79.453 million in 2020, reflecting a growth of 22.9%[65] Revenue Breakdown - Revenue contribution from new economy clients accounted for 93.1% of total revenue in FY2021[7] - Revenue from omnichannel Customer Experience (CX) solutions rose by 22.3% to US$256.4 million for the year ended December 31, 2021, driven by higher business volumes from key clients[40] - Revenue from sales and digital marketing services surged by 73.2% to US$84.9 million for the year ended December 31, 2021, primarily due to campaign expansions for key clients[40] - Total revenue for the year ended December 31, 2021, increased by 27.6% to S$555.2 million (US$410.7 million) from S$434.7 million (US$321.6 million) in 2020[42] Client and Market Expansion - The company added 20 new logos in FY2021, more than double the nine logos added in FY2020[7] - As of December 31, 2021, the total number of clients increased to 52, a 37% rise from 38 clients in the previous year[7] - The company expanded its geographic presence by opening a new office in South Korea in Q4 2021[7] Operational Growth - The company increased its headcount by 30% in 2021 to support operational growth[3] - Employee benefits expense increased by 41.8% to US$72.3 million for the three months ended December 31, 2021, reflecting a rise in staff force and share-based payment expenses[28] - Recruitment expenses increased by 49.8% to US$2.5 million for the three months ended December 31, 2021, due to higher referral and placement fees[32] Expenses and Liabilities - Depreciation expense for the three months ended December 31, 2021, increased by 7.8% to US$7.1 million, attributed to capital expenditures in new capacities[29] - Interest expense rose by 149.6% to US$1.5 million for the three months ended December 31, 2021, primarily due to the recognition of unamortized loan fees[34] - Employee benefits expense increased by 31.7% to S$339.7 million (US$251.3 million) due to higher headcount and performance-related compensation adjustments[42] - Depreciation expense rose by 20.5% to S$39.9 million (US$29.5 million) primarily due to capital expenditures in new capacities across multiple countries[43] - Interest expense surged by 175.1% to S$8.4 million (US$6.2 million) due to a term loan drawdown of S$252.7 million[48] Cash Flow and Assets - Cash and cash equivalents rose significantly to US$231.669 million from US$44.246 million, marking an increase of 424.5% year-over-year[65] - Net cash from operating activities was US$76.812 million for 2021, compared to US$96.533 million in 2020, indicating a decrease of 20.5%[65] - Total assets increased to US$430.206 million as of December 31, 2021, compared to US$180.081 million in 2020, representing a growth of 138.5%[63] - Total current liabilities decreased to US$63.528 million in 2021 from US$66.393 million in 2020, a reduction of 4.2%[63] - Total equity attributable to owners of the Group was US$343.039 million, up from US$83.249 million in 2020, representing a substantial increase of 313.5%[63] - The company reported a net increase in cash and cash equivalents of US$191.858 million for the year, compared to US$17.406 million in the previous year, an increase of 1006.5%[65] Shareholder Information - The company’s share capital remained at US$14 million, with share premium increasing to US$371.670 million from zero in 2020[63]