Ebiquity PLC Trading Update and Acquisition (0582A)
31 Enero 2022 - 12:59AM
UK Regulatory
TIDMEBQ
RNS Number : 0582A
Ebiquity PLC
31 January 2022
Ebiquity Plc
31 January 2022
Trading Update and Acquisition
Ebiquity plc ("Ebiquity" or the "Group"), a world leader in
media investment analysis announces a trading update for the
financial year ended 31 December 2021 ("2021"), ahead of the full
year results announcement planned for 25 March 2022.
Trading Update
Group revenue for 2021 was in line with the Board's expectations
with year-on-year growth of 12%. Consistent with its strategy, the
business has benefitted from strong growth in higher margin digital
media solutions revenue and continued prudent cost management. As a
result, the underlying operating profit(1) for 2021 is now expected
to be materially ahead of market expectations, at not less than
GBP4.7m.
Ebiquity also continued to achieve strong cash conversion in the
year. Net debt as at 31 December 2021 of GBP4.8 million (comprising
cash balances of GBP13.2 million and gross debt of GBP18.0 million)
was significantly lower than previously anticipated.
Acquisition
The Group also announces the acquisition of Forde and Semple
Media Works, the leading media performance consultancy in Canada.
Forde and Semple has a well-established domestic blue chip client
base and a long-standing relationship with Ebiquity in support of
projects covering Canadian media. It had revenues of CAD $1.1m in
the financial year ended 31 January 2021. This acquisition will
extend Ebiquity's geographic presence in North America and enhance
the services that we offer to our US and global client base.
Nick Waters, CEO, commented:
"Ebiquity has built on its good momentum in the first six months
of last year, delivering an excellent second half result, with full
year profit now expected to be materially ahead of market
expectations. 2022 has started well. The revenue and profit
performance has been underpinned by strong traction in our new,
higher margin digital media solutions and a continued focus on
prudent cost management.
We are pleased to announce the acquisition of Forde and Semple,
the leading Canadian media performance consultancy which will
enhance our reach in North America. Our strengthening balance sheet
also enables the Group to consider further acquisitions while
continuing to drive organic growth."
Note 1: Underlying operating profit is defined as the operating
profit excluding share-based payments, amortisation of purchased
intangibles and non-recurring items.
Market abuse regulation
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/201 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
("MAR").
Enquiries:
Ebiquity plc Via Instinctif
Nick Waters (Chief Executive Officer) Partners
Alan Newman (Chief Financial and
Operating Officer)
Instinctif Partners
Matthew Smallwood 07831 379 122
Guy Scarborough 07917 178 920
Panmure Gordon (Financial Adviser,
NOMAD & Broker)
Alina Vaskina (Corporate Advisory)
Charles Leigh-Pemberton (Corporate
Broking) 020 7886 2500
About Ebiquity plc
Ebiquity plc (LSE AIM: EBQ) is a world leader in media
investment analysis. It harnesses the power of data to provide
independent, fact-based advice, enabling brand owners to perfect
media investment decisions and improve business outcomes. Ebiquity
is able to provide independent, unbiased advice and solutions to
brands because we have no commercial interest in any part of the
media supply chain.
We are a data-driven solutions company helping brand owners
drive efficiency and effectiveness from their media spend,
eliminating wastage and creating value. We provide analysis and
solutions through five Service Lines: Media management, Media
performance, Marketing effectiveness, Technology advisory, Contract
compliance.
Ebiquity's clients are served by more than 500 media specialists
operating from 19 offices covering 80% of the global advertising
market.
The Company has the most comprehensive, independent view of
today's global media market, analysing $55bn of media spend from 75
markets annually, including trillions of digital media impressions.
Our Contract Compliance division, FirmDecisions, audits $40bn of
contract value annually.
As a result, more than 70 of the world's top 100 advertisers
today choose Ebiquity as their trusted independent media
advisor.
For further information, please visit: www.ebiquity.com
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