Ebiquity PLC Trading Update (5234T)
25 Julio 2022 - 1:00AM
UK Regulatory
TIDMEBQ
RNS Number : 5234T
Ebiquity PLC
25 July 2022
Ebiquity Plc
25 July 2022
Trading Update
Ebiquity reports strong H1 2022 revenue, profit, and margin
growth in line with expectations and announces positive outlook for
the full year
Ebiquity plc ("Ebiquity" or the "Group"), a world leader in
media investment analysis, announces a trading update for the six
months ended 30 June 2022, ahead of the interim results
announcement planned for 22 September 2022.
In the six months ended 30 June 2022, Ebiquity continued its
growth trajectory with revenue of approximately GBP37 million,
which was 16% ahead of the same period last year. This performance
included an initial contribution from Media Management LLC and
Media Path, the acquisitions of which were completed in April 2022.
Organic revenue was up 10% over the prior year.
In addition, the Group's profitability improved significantly
and the Board expects to report underlying operating profit in
excess of GBP4.6 million, an increase of at least 100% over the
same period last year. The Group's underlying operating margin is
similarly expected to improve to at least 12%, which would
represent an increase of five percentage points over the prior
year, enabled by growth in higher margin digital products and
improved operating efficiencies.
The Group's net debt as at 30 June 2022 was GBP12.9m (comprising
cash balances of GBP9.3 million and gross debt of GBP22.2
million).
Following a previously announced review, the Group is in
discussions regarding the divestment of its small Russian
subsidiary.
Nick Waters, CEO, commented:
"We are satisfied with the Group's performance in the first
half, as we continue to deliver our strategic plan. Not only is
revenue up strongly, but importantly, the improvements we have made
to the business have also led to significant profit and margin
growth. We are pleased with the impact of the acquisitions that we
completed earlier this year, which have boosted our presence in the
world's largest advertising market of North America and have
provided us with a market leading technology platform that will
bring us valuable economies of scale as we continue to grow. These
acquisitions are contributing as expected and their integrations
are progressing well.
In terms of our outlook, there is undoubtedly greater
uncertainty given the increasing macro-economic challenges. While
Ebiquity is not immune to these, we do see potential opportunities:
in prior periods of economic uncertainty marketers have scrutinised
all their media investments more thoroughly for cost, quality, and
effectiveness. Marketers may also look to allocate more capital to
digital advertising, which is served by our Digital Media Solutions
business that is continuing to grow rapidly. Notwithstanding this
uncertainty, we look forward to completing another successful year
in 2022 and continuing to deliver against our planned growth
trajectory ".
Market abuse regulation
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
("MAR"). Upon the publication of this announcement via a Regulatory
Information Service this inside information is now considered to be
in the public domain.
The person responsible for arranging release of this
announcement on behalf of the Company is Alan Newman, Chief
Financial and Operating Officer of the Company.
Enquiries:
Ebiquity plc Via Camarco
Nick Waters (Chief Executive Officer)
Alan Newman (Chief Financial and Operating
Officer)
Camarco
Ben Woodford 07990 653 341
Geoffrey Pelham-Lane 07733 124 226
Phoebe Pugh
Panmure Gordon (Financial Adviser, NOMAD &
Broker)
Alina Vaskina / Harriette Johnson / Dougie
McLeod (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 nearly 600 media specialists
operating from 24 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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END
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