Ebiquity
Plc
Ebiquity
plc ("Ebiquity" or the "Group")
5 December
2024
Trading
Update
Ebiquity plc ("Ebiquity" or the
"Group"), a world leader in media investment analysis, announces a
trading update for the year ending 31 December
2024.
As indicated in the Group's Earnings
Release in September, the Board anticipated a stronger H2 than H1;
that is proving to be the case with expected H2 revenue still
representing a mid-single digit improvement on the revenues of H1
2024. However, the very final months of the financial year are not
meeting those high expectations in all respects. For the year
ending 31 December 2024, Group revenue is expected to show a low
single-digit decline from that of the 2023 financial year.
This has resulted from challenging trading conditions in some
regions and from some operational constraints as the volume of
business in recent months has become more
concentrated.
The Group has realised some tactical
cost savings to mitigate the revenue shortfall with the result that
Adjusted EBIT[1]
for H2 2024 is expected to be more than double
that of H1 2024. This would lead to a full year Adjusted EBIT
margin of c10% (2023: 15%).
Net debt as at 30 June
2024 was £15.3 million. As expected, given the normal
seasonality of the Group's cash flows, net debt increased somewhat
during the third quarter but is expected to reduce again by year
end, following working capital management actions. Stronger
seasonal cash collections will continue through Q1 2025 and the
Group has ample liquidity and headroom against its banking
covenants.
Ruben Schreurs, CEO,
commented:
"H2 2024
performance has been stronger than H1 2024 albeit below previous
expectations. However the business has continued to develop a
pipeline of revenue opportunities which will continue to be
realised during 2025. I am committed to driving a stronger quality
of revenue across the group and to rigorously evaluating all
aspects of the Group's resource deployment and scalability.
Long-term sustainable profit growth and improved forecast
reliability are key objectives for the whole leadership of the
Group."
This announcement contains inside
information.
Enquiries:
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Ebiquity
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Via
Camarco
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Ruben Schreurs, CEO
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Camarco
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Ben Woodford
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+44
(0)7990 653 341
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Panmure Liberum (Financial Adviser, NOMAD & Broker)
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Edward Mansfield / Dougie McLeod
(Corporate Advisory)
Mark Murphy / Sam Elder (Corporate
Broking)
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+44
(0)20 7886 2500
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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 four
Service Lines: Media management, Media performance, Marketing
effectiveness and Contract Compliance.
Ebiquity's clients are served
by more than 600 media specialists, covering 80% of the global
advertising market.
The Company has the most
comprehensive, independent view of today's global media market,
analysing over US$100bn of media spend and contract value
from over 110 countries annually, including trillions of digital
media impressions.
As a result, over 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