Hyperion reports 24% higher EBITDA
Hyperion Insurance reported earnings before interest, tax, depreciation and amortisation (EBITDA) rose 24% to £152m for the year to September from £123m a year earlier.
The group’s EBITDA margin was static at 28%.
Hyperion said its financial performance reflected “continued positive momentum driven by significant ongoing investment in people, operations and technology, and despite challenging market conditions”.
Organic revenue growth was 8%, the same as the previous year, which the company said was “a strong performance in a highly competitive operating environment”.
“Hyperion continues to seek strategic partnerships, to make acquisitions, and to launch operations where likeminded businesses and people bring specialist expertise to the group, deliver geographic reach in key territories, and make a positive difference to clients,” chief executive David Howden said.
“The impressive results delivered by each of our businesses contributed to the group once again achieving market-leading organic growth and a strong profit margin, both critical factors in our long-term success,” Howden said.
He added that, following the recent share offer, more than 20% of employees now own shares in Hyperion and its subsidiaries.
Last month, Hyperion announced that Canadian institutuional investor CDPQ had agreed to buy a minority stake in the group and provide new equity for a total investment of $400m.