Immotion Group PLC Immotion confirms Q1 2020 installations (8058Z)
15 Enero 2020 - 01:00AM
UK Regulatory
TIDMIMMO
RNS Number : 8058Z
Immotion Group PLC
15 January 2020
Immotion Group plc
("Immotion Group", the "Company")
Immotion confirms Q1 2020 installations
Immotion Group, the UK-based immersive virtual reality ("VR")
'Out of Home' entertainment group, is pleased to announce it has
signed contracts in the past week with the London Eye, a further
four aquariums and with its first European zoo partner.
Additionally, the Company has agreed terms, subject to contract,
with a further nine aquariums and five entertainment sites. The
aggregate total across the sites (contractually agreed and subject
to contract) is 93 headsets, all of which are scheduled to be
installed during Q1 2020.
The Company currently has 136 paid for headsets in stock, 93 of
which will be deployed to fulfil these contracts.
We are delighted that included in these new partner sites is the
installation of a six seater mini-theatre solution at the iconic
London Eye attraction. The installation will feature our unique VR
Roller Coaster experience, Tower Coaster - London, where customers
will be able to see London from 400 feet above the Thames, enjoying
the sites of the city, whilst riding this thrilling VR
experience.
This installation joins the recently announced 8-seater
mini-theatre currently being installed into the neighbouring Sea
Life London location, sited in the iconic County Hall building on
the South Bank of the River Thames.
These 93 additional headsets, which augment the 302 installed
and operational headsets at the end of 2019 breakdown as
follows:
A) Contracted:
Site Headsets
London Eye 6
---------
Sea Life London 4
---------
Sea Life Blackpool 6
---------
Mystic Aquarium, Connecticut,
USA 4
---------
Attica Park, Athens, Greece 4
---------
Bristol Aquarium 3
---------
Total 27
---------
B) Agreed, subject to contract:
Sites Headsets
Aquariums 9 38
------ ---------
Entertainment sites 5 28
------ ---------
Total 14 66
------ ---------
As can be seen, the majority of these new installations will be
deployed in aquariums, increasing the total number of aquarium
partners from 14 to 26 with aquarium based headsets rising from 52
to 107. Average weekly revenue per headset in the Aquarium sector
through 2019 was GBP476 and during the busy Christmas holiday
period an average of GBP794 per week was achieved.
With the installations detailed above, the total headsets to be
installed in Q1 2020 now stands at 93. Once installed this would
take the total number of headsets installed to 395 split as
follows:
IVR 117
Partners 278 (185 installed plus 93 pipeline)
Total 395
Accordingly, the Company continues to believe it will reach
monthly EBITDA breakeven at or around the end of Q1, based on its
forecasted costs.
We anticipate more partners signing in early 2020 and look
forward to reporting these in due course.
Rod Findley, Immotion's Commercial Director, said: "We are
thrilled with the ongoing response to our offering. The Partner
team have been working hard throughout the last quarter of 2019 to
secure these new sites."
"The interest from aquarium partners is a strong endorsement of
our focused model. We and our partners are very pleased with both
the performance and audience reaction. With 19 new partners
agreeing to a further 93 headsets this bodes well as we drive
towards monthly profitability."
"Our experienced team have been working on a number of
additional experiences in new verticals which will allow us to
broaden our partner base as we start to expand our offering into
2020. This combined with our new larger format 'Theatre' offering
will allow us to provide a wider range of experiences to a much
bigger partner audience."
"We are in advanced talks with a number of larger locations and
look forward to updating the market on these new additions in due
course."
Enquiries:
For further information please visit www.immotion.co.uk, or
contact:
Immotion Group Martin Higginson Tel: +44 (0) 161
235 8505
WH Ireland Limited Adrian Hadden Tel + 44 (0) 207
(Nomad and Joint Darshan Patel 220 1666
Broker) Matthew Chan
Shard Capital Partners Damon Heath Tel: +44 (0) 20 7186
LLP Erik Woolgar 9900
(Joint Broker)
Alvarium Capital Alex Davies Tel: +44 (0) 207
Partners 195 1433
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END
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