Dianomi PLC Trading Statement (3167Z)

TIDMDNM

RNS Number : 3167Z

Dianomi PLC

11 January 2024

Dianomi plc

("Dianomi", the "Company" or the "Group")

Trading Update

Dianomi , a leading provider of native digital advertising services to premium clients in the Business, Finance and Lifestyle sectors, announces the following trading update for the year to 31 December 2023.

For the year to 31 December 2023, the Company expects to report revenue broadly in line with market expectations at approximately GBP30.1 million and a loss at adjusted EBITDA* level of approximately GBP0.3-0.4 million, subject to audit. Profitability improved in the second half of the year as the Company benefitted both from the cost savings from the restructuring in the first half of the year and the enhanced revenue share resulting from a contract amendment with one of the Company's largest publishers, as announced in September 2023. Unaudited cash as at the 31 December 2023 was GBP7.7 million (30 June 2023: GBP7.1 million), demonstrating improved cash conversion in the second half of the year.

As previously reported, the decline in traffic volumes has been a key issue for publishers in 2023 and, despite the fact that demand from Dianomi's 400+ premium financial and lifestyle advertisers has remained consistent, the reduced traffic made fully monetising this demand more challenging. Looking ahead, we expect to add key new publishers, extend our programmatic distribution and potentially benefit from increased traffic during a US election year.

The Company expects to report full year audited results for the year to 31 December 2023 around mid-April 2023.

Rupert Hodson, CEO of Dianomi, said : "Traffic levels across major publications were significantly down and this unsurprisingly impacted our business in 2023. That said, we enter 2024 in a good position. Backed by a well-capitalised balance sheet, we have an encouraging pipeline of prospective advertisers and publishers, combined with new product launches which are expected to make contributions over the next 12 months."

(*) Adjusted EBITDA is calculated as profit after tax before deducting net finance costs, tax, depreciation, exceptional items relating to the restructuring and share based payment charges

For further information contact:

 
Dianomi                                         Tel: +44 (0)207 802 5530 
 Rupert Hodson (Chief Executive Officer) 
 Charlotte Stranner (Chief Financial Officer) 
Panmure Gordon (Nominated Adviser and Broker)   Tel: +44 (0)207 886 2500 
 Emma Earl/ Freddy Crossley, Corporate Finance 
 Rupert Dearden, Corporate Broking 
Novella Communications                          Tel: +44 (0)203 151 7008 
 Tim Robertson 
 Claire de Groot 
 Safia Colebrook

About Dianomi

Dianomi, established in 2003, is a leading provider of native digital advertising services to premium clients in the Financial Services and Business sectors. The Group operates from its offices in London, New York and Sydney. The Group enables premium brands to deliver native advertisements to a targeted audience on the desktop and mobile websites, mobile and tablet applications of premium publishers. It provides over 400 advertisers, including blue chip names such as abrdn, Invesco and Baillie Gifford, with access to an international audience of over 400 million devices per month through its partnerships with over 300 premium publishers of business and finance content, including blue chip names such as Reuters, Bloomberg and WSJ. Adverts served are contextually relevant to the content of the webpages on which they appear and mirror the style of the page, which enhances reader engagement. http://www.dianom i.com .

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January 11, 2024 02:00 ET (07:00 GMT)

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