Digitalbox PLC Pre-Close Trading Update (2602Q)
25 Febrero 2021 - 01:00AM
UK Regulatory
TIDMDBOX
RNS Number : 2602Q
Digitalbox PLC
25 February 2021
25 February 2021
Digitalbox plc
("Digitalbox" or the "Company")
Pre-Close Trading Update
Digitalbox plc (AIM: DBOX), the mobile-first digital media
business, which owns Entertainment Daily, The Daily Mash and The
Tab, is pleased to provide the following trading update.
As previously announced on 3 December, the Group can confirm
that the revenues and profits in the second half of year ended 31
December 2020 ("FY2020") were stronger than the first half. The
Company expects revenue for FY2020 to be approximately GBP2.2
million (FY2019: GBP2.2 million) and adjusted EBITDA to be
approximately GBP0.3 million (FY2019: GBP0.5 million). The
Company's net cash position at the end of January 2021 was GBP1.9
million (30 June 2020: GBP1.2 million).
The current financial year has started well with Q1 2021 to-date
performing ahead of our initial expectations. The Tab continues its
positive integration into the Digitalbox model reaching
profitability (previously loss making) after three months of
ownership; together with audience growth across the portfolio,
Digitalbox now has a reach of more than 12 million monthly
users.
James Carter, CEO said : "2020 will go down in history as one to
be forgotten by many, but Digitalbox made significant and exciting
progress through these challenging times. We continued to execute
our buy and build strategy within complementary content verticals
and the acquisition of the Tab, brought in a new cornerstone
investor in the form of Downing LLP as we start to institutionalise
our shareholder register, strengthened our Board and appointed
Panmure Gordon as our Nominated Adviser and Joint Broker.
2021 has started positively with the integration of The Tab onto
the Company's proprietary tech platform (Graphene) progressing
well, having helped take a loss-making business into profit within
a three-month window.
With the refreshed Board and strong current cash balance, the
Company is confident that the broad economic conditions expected in
2021 will create opportunities to continue its buy and build
strategy within complementary content verticals as digital mobile
advertising revenues grow ahead of other sectors."
More detail will be provided when the Company announces its
FY2020 Final Audited Results on 29 March 2021.
Adjusted EBITDA is Operating Profit before the deduction of
depreciation, amortisation, share based payments and acquisition
and listing costs .
END
Market abuse regulation: This announcement contains inside
information for the purposes of Article 7 of Regulation (EU) No
596/2014.
Enquiries:
Digitalbox c/o SEC Newgate
James Carter, CEO
Panmure Gordon Tel: 020 7886 2500
(Nominated Adviser, Financial Adviser
& Joint Broker )
Alina Vaskina / Sandy Clark (Corporate
Advisory)
Erik Anderson / Rupert Dearden (Corporate
Broking)
Alvarium Capital Partners (Joint Broker) Tel: 020 7195 1400
Alex Davies / Hugh Kingsmill Moore
SEC Newgate (Financial PR) Tel: 020 3757 6880
Robin Tozer / Isabelle Smurfit digitalbox@secnewgate.co.uk
About Digitalbox plc
Based in Bath, UK, Digitalbox is a 'pure-play' digital media
business with the aim of profitable publishing at scale on mobile
platforms.
Digitalbox operates three trading brands, "Entertainment Daily",
"The Tab" and "The Daily Mash". Entertainment Daily produces and
publishes online UK entertainment news covering TV, showbiz and
celebrity news. The Daily Mash produces and publishes satirical
news content. The Tab is the UK's biggest youth culture site
fuelled by students.
Digitalbox generates revenue from the sale of advertising in and
around the content it publishes. The Group's optimisation for
mobile enables it to achieve revenues per session significantly
ahead of market norms for publishers on mobile.
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END
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