TIDMMEGP
RNS Number : 2587B
ME Group International PLC
01 June 2023
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 as
amended by regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310.Upon the publication of this announcement,
this inside information is now considered to be in the public
domain.
1 June 2023
ME Group International plc
(the "Group" or the "Company")
Trading Update
Strong H1 performance across all business areas and operating
markets, with increased full year outlook for 2023
ME Group International plc (LON: MEGP), the instant-service
equipment group, announces an update on the Group's trading for the
six months ended 30 April 2023 (the "Period").
Trading Update
The Company is pleased to announce that during the Period, Group
revenue was up by more than 24% and profit before tax was up by
more than 35% compared with the six months ended 31 April 2022 ("H1
2022"), driven by a strong performance across all of the Group's
key business areas and its 19 operating markets.
Photobooth activity, driven by demand for photo ID, continued to
increase across all territories, particularly in Europe and Asia,
with Photo.ME revenue up approximately 25% compared with H1 2022.
The Group has focused much of its recent R&D efforts on
photobooths, developing printing and photography capabilities. Our
anti-spoofing patents are enabling us to make rapid progress on the
new ICAO and ISO biometric standards, which should be the norm by
2025.
Laundry operations continued to perform very strongly with
Wash.ME revenue up approximatively 36% compared to H1 2022. Wash.ME
remains a key focus of investment for the Group including the
rolling out of a new app that will enable the Group to better
analyse its customers, increase their loyalty and boost
performance. The roll out will start in June.
Our Print.ME business, which operates primarily in France, has
also performed well with revenue up approximatively 11% on H1 2022.
The ongoing roll-out of new kiosks, for replacements as well as for
new installations should further boost performance.
Feed.ME remains a core strategic focus of the Group and there
continues to be growing demand for services in the food sector, as
the Group continues to implement its growth strategy in this
market.
Outlook
As a consequence of this strong trading performance in H1 2023,
the Board is pleased to increase its outlook for the current
financial year, ahead of previous expectations, with revenue
between GBP300 million and GBP320 million, EBITDA between GBP100
million and GBP110 million and profit before tax between GBP64
million and GBP67 million.
The Group will publish its interim results for the six months
ended 30 April 2023 in mid-July 2023.
Enquiries:
ME Group International +44 (0) 1372 453 399 | ir@me-group@hudsonsandler.com
plc
Serge Crasnianski, CEO
Stéphane Gibon,
CFO
Hudson Sandler +44 (0) 20 7796 4133 | me-group@hudsonsandler.com
Wendy Baker
Nick Moore
Ben Wilson
NOTES TO EDITORS
ME Group International plc (LSE: MEGP) operates, sells and
services a wide range of instant-service vending equipment,
primarily aimed at the consumer market.
The Group operates vending units across 19 countries and its
technological innovation is focused on four principal areas:
-- Photo.ME - Photobooths and integrated biometric identification solutions
-- Wash.ME - Unattended laundry services and launderettes
-- Print.ME - High-quality digital printing kiosks
-- Feed.ME - Vending equipment for the food service market
In addition, the Group operates other vending equipment such as
children's rides, amusement machines, and business service
equipment.
Whilst the Group both sells and services this equipment, the
majority of units are owned, operated and maintained by Me Group
International plc. The Group pays the site owner a commission based
on turnover, which varies depending on the country, location and
the type of machine.
The Group has built long-term relationships with major site
owners and its equipment is generally sited in prime locations in
areas of high footfall such as supermarkets, shopping malls
(indoors and outdoors), transport hubs, and administration
buildings (City Halls, Police etc.). Equipment is maintained and
serviced by an established network of 650 field engineers.
In August 2022 the Company changed its listed entity name to ME
Group International plc (previously Photo-Me International plc) to
better reflect the Group's diversification focus and business
strategy.
The Company's shares have been listed on the London Stock
Exchange since 1962.
For further information: www.me-group.com
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END
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