SEC Filings

20-F
WNS (HOLDINGS) LTD filed this Form 20-F on 05/16/2018
Entire Document
 


Table of Contents

Fiscal 2018 Compared to Fiscal 2017

The following table sets forth our revenue and percentage change in revenue for the periods indicated:

Revenue

 

     Year ended March 31,                
     2018      2017      Change      % Change  
     (US dollars in millions)         

Revenue

   $ 758.0      $ 602.5      $ 155.4        25.8

The increase in revenue of $155.4 million was primarily attributable to (i) an increase in revenue from existing clients of $122.9 million, (ii) revenue from new clients of $30.1 million, and (iii) an increase in hedging gain on our revenue by $2.4 million to $9.2 million in fiscal 2018 from $6.8 million in fiscal 2017. The increase in revenue was primarily due to higher volumes in our healthcare (including due to HealthHelp which we acquired in March 2017), diversified businesses (including due to Denali which we acquired in January 2017), insurance, travel, utilities, shipping and logistics and banking and financial services verticals. The increase was contributed by an appreciation of the pound sterling, AUD and South African rand against the US dollar by an average of 1.4%, 2.8% and 7.8%, respectively, as compared to the respective average exchange rates in fiscal 2017. The increase in revenue was partially offset by a lower volume in our consulting and professional services vertical.

Revenue by Geography

The following table sets forth the composition of our revenue based on the location of our clients in our key geographies for the periods indicated:

 

     Revenue      As a percentage of
Revenue
 
     Year ended March 31,  
     2018      2017      2018     2017  
     (US dollars in millions)               

North America (primarily the US)

   $ 308.4      $ 196.2        40.7     32.6

UK

     258.9        248.6        34.2     41.3

Australia

     66.6        49.1        8.8     8.1

Europe (excluding the UK)

     47.2        37.5        6.2     6.2

South Africa

     42.8        42.7        5.7     7.1

Rest of world

     34.0        28.5        4.5     4.7
  

 

 

    

 

 

    

 

 

   

 

 

 

Total

   $ 758.0      $ 602.5        100.0     100.0
  

 

 

    

 

 

    

 

 

   

 

 

 

The increase in revenue in North America (primarily the US) region was primarily attributable to higher volumes in our healthcare (including due to HealthHelp which we acquired in March 2017), diversified businesses (including due to Denali which we acquired in January 2017), insurance, travel, banking and financial services, utilities, shipping and logistics, and consulting and professional services verticals. The increase in revenue from the Australia region was primarily attributable to higher volumes in our insurance, and travel verticals, and an appreciation of the Australian dollar against the US dollar by an average of 2.8%, as compared to the average exchange rates in fiscal 2017, partially offset by a lower volume in our utilities vertical. The increase in revenue from the UK region was primarily attributable to higher volumes in our utilities, healthcare, travel, banking and financials services and diversified businesses verticals, and an appreciation of the pound sterling against the US dollar by an average of 1.4%, as compared to the average exchange rates in fiscal 2017, partially offset by lower volumes in our insurance, and consulting and professional services verticals. The increase in revenue from the Europe (excluding the UK) region was primarily attributable to higher volumes in our healthcare, travel, diversified businesses, and banking and financial services verticals, partially offset by a lower volume in our insurance vertical. The increase in revenue from the South Africa region was primarily attributable to higher volumes in our diversified businesses, and shipping and logistics verticals, and an appreciation of the South African rand against the US dollar by an average of 7.8%, as compared to the average exchange rates in fiscal 2017, partially offset by lower volumes in our utilities, consulting and professional services and banking and financial services verticals. The increase in revenue from the Rest of world region was primarily attributable to higher volumes in our shipping and logistics, and travel verticals, partially offset by a lower volume in our diversified businesses vertical.

Revenue Less Repair Payments (non-GAAP)

The following table sets forth our revenue less repair payments (non-GAAP) and percentage change in revenue less repair payments (non-GAAP) for the periods indicated:

 

     Year ended March 31,                
     2018      2017      Change      % Change  
     (US dollars in million)         

Revenue less repair payments (non-GAAP)

   $ 741.0      $ 578.4      $ 162.5        28.1

 

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