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Highlights

  • Canaccord Genuity’s Hayley Palmer reiterated a ‘Buy’ rating with a price target of AUD 9.41, implying nearly 29% upside.

  • Berenberg’s James Fletcher also maintained a ‘Buy’ rating with a higher price target of AUD 9.62, projecting a 31.8% potential gain.

  • Analyst sentiment reflects confidence in Wilmington’s growth strategy, acquisitions, and recurring revenue strength.

Wilmington plc (LSE:WIL), a provider of data, information, education, and training services in the Governance, Risk and Compliance (GRC) sector, continues to attract positive analyst attention. Recent updates show that both Canaccord Genuity and Berenberg have reiterated their ‘Buy’ recommendations.

Analyst Ratings and Price Targets

On 25 July 2025, Hayley Palmer of Canaccord Genuity reaffirmed a ‘Buy’ recommendation, setting a price target of AUD 9.41. This represents an upside of nearly 28.94% from the company’s current trading levels.

Similarly, on 10 April 2025, James Fletcher of Berenberg maintained his ‘Buy’ rating, assigning a slightly higher price target of AUD 9.62, which indicates a potential 31.81% gain.

Financial and Operational Performance

For the half year ended 31 December 2024 (H1 FY25), Wilmington reported ongoing revenue growth of 16%, with organic revenue growth of 3%. Recurring revenue from organic businesses increased by 6%, supported by strong client retention. Overall, repeat revenues rose to 72% of continuing revenues, compared with 71% in H1 FY24.

Profitability also increased with adjusted profit before tax rising 39% to £11.4 million, while margins improved by four percentage points to 25%. The balance sheet remains robust, supported by net cash of £31.3 million as of 31 December 2024.

Strategic Acquisitions

Wilmington has continued to expand its portfolio. In October 2024, it completed the acquisition of Phoenix Health & Safety, a move that strengthened its position in the health, safety, and environmental (HSE) training market.

Most recently, Wilmington announced its planned acquisition of Conversia, a Spanish RegTech software provider, for €121.6 million (AUD 198 million). Conversia generated €36.6 million in revenue and €9.3 million in EBITDA in the year to 30 June 2025, supported by a subscription-driven model with more than 70% recurring revenue. The acquisition is expected to be earnings accretive in the first full year, further enhancing Wilmington’s international GRC presence.