MediaZest Plc - Trading Update
PR Newswire
LONDON, United Kingdom, January 13
13 January 2025
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
MediaZest Plc
("MediaZest", the "Company", or the "Group")
Trading Update
Strong FY performance
Growth in revenues and an expected return to EBITDA profitability
MediaZest plc (AIM: MDZ), the creative audio-visual solutions provider, provides an update to shareholders on a positive performance for the year ended 30 September 2024, following strong Q4 trading with key customers continuing to roll-out digital signage installations across multiple sites.
The Company has delivered a return to year-on-year growth, with annual revenues up around 30% to approximately £3.0m (FY 2023: £2.34m). MediaZest expects to announce a significantly improved performance for FY 2024 compared to FY 2023, showing a return to positive EBITDA (FY 2023: £0.23m EBITDA loss). Cash in hand at the year-end is also expected to have improved from the previous year end cash position.
MediaZest continues to increase the number of longer-term recurring revenue contracts, with a recurring annual run rate at 30 September 2024 of c. £900,000, compared to c. £700,000 at 30 September 2023. This continues to grow and is expected to further increase during 2025. It is also pleasing to see the level of European business increase after the Company's Dutch office was established at the end of 2022.
Significant projects undertaken during the year include:
- Pets at Home - Continued roll out of digital signage solutions, now in over 100 stores across the UK
- LululemonAthletica - UK projects supplemented by providing solutions in new stores in Oslo, Stockholm and Berlin
- Kia - Carshow room audio visual roll outs continued in the Netherlands, Ireland and Slovakia
- Hyundai - Show room audio visual upgrades and ongoing support and maintenance, generating additional recurring revenue
- First Rate Exchange Services - Successful "proof of concept" project for thesupply of digital currency boards into UK post offices
The Company has also worked with customers such as Wincanton, Harrods, Philip Morris International, Arc'Teryx and Castore in the past financial year to September 2024.
MediaZest expects to issue its Full Year results at the end of February 2025.
Geoff Robertson, Group Chief Executive, commented: "We are delighted with the strong year end performance of the business, and the growing momentum we have brought into the new financial year. Our order book and overall forward visibility is encouraging and we look to continue our momentum into 2025."
For further information please contact:
MediaZest Plc | www.mediazest.com | |
Geoff Robertson, Chief Executive Officer | via Walbrook PR | |
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SP Angel Corporate Finance LLP (Nomad) | Tel: +44 (0)20 3470 0470 | |
David Hignell / Adam Cowl |
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Hybridan LLP (Corporate Broker) | Tel: +44 (0)20 3764 2341 | |
Claire Noyce |
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Walbrook PR (Media & Investor Relations) | Tel: +44 (0)20 7933 8780 or mediazest@walbrookpr.com | |
Paul McManus / Lianne Applegarth Alice Woodings | Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303 / +44 (0)7407 804 654 | |
About MediaZest (www.mediazest.com)
MediaZest is a creative audio-visual solutions provider that specialises in delivering innovative digital signage and audio systems to leading retailers, brand owners and corporations. The Group offers an integrated service from content creation and system design to installation, technical support, and maintenance. MediaZest was admitted to the London Stock Exchange's AIM in February 2005.
MediaZest's new AIM rule 26 investor site is now available to view on the Company website here: https://www.mediazest.com/about/investor-relations/
