LBG Media PLC Trading update and notice of half year results (1741H)
2023年7月26日 - 3:00PM
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RNS Number : 1741H
LBG Media PLC
26 July 2023
26 July 2023
LBG Media plc
(The "Company" or "Group")
Trading update and notice of half year results
LBG Media, the UK-based multi-brand, multi-channel digital youth
publisher, is pleased to announce a trading update for the half
year ended 30 June 2023 ("HY23" or "the period").
Trading update
-- The Group expects to report first half revenue of GBP27.2m
(HY22: GBP24.8m) representing growth of approximately 10% and
reflective of the seasonality we anticipate between H1 and H2.
o Direct revenues increased by approximately 9% to GBP11.5m
(HY22: GBP10.6m) driven by the Group's growing reputation with
global brands and successful campaigns. Visibility of booking
levels for the second half of the year is also improved compared to
this time last year.
o Indirect revenue increased by approximately 13% to GBP15.3m
(HY22: GBP13.6m). Year on year content view growth improved by over
60%, enabling the Group to greater capitalise on the market shift
to short-form content that occurred in the second half of last
year.
-- HY23 adjusted EBITDA is expected to be approximately GBP3m,
(HY22: GBP1.6m) an increase of over 80% on last year.
-- Cash and cash equivalents as at 30 June 2023 of GBP32.7m
compared to GBP29.3m at 31 December 2022.
Acquisition update
In line with the Group's inorganic growth strategy, during the
period LBG Media completed the bolt-on asset acquisition of Lessons
Learned in Life (LLIL), an under-monetised asset that is on track
to achieve payback within its first year.
Outlook
Normal seasonality in advertising spend means that revenue, and,
with the relatively even split of costs, significantly more so
profitability, are weighted towards the second half of the year.
The Board believes that the Group's highly differentiated offering
and strategic programme will continue to fuel our growth and
combined with the momentum we take into H2, the Board can confirm
the outlook for the full year remains in line with market
expectations(1) .
CEO, Solly Solomou commented:
"We have delivered a strong first-half performance in line with
our expectations, notwithstanding the tough macroeconomic backdrop.
The significant increase in content views demonstrates our
effective ongoing engagement with the hard to reach 18-34 year-old
demographic: this is a highly attractive proposition for
advertisers and will continue to fuel our growth.
LBG Media has a well-defined set of strategic growth pillars, a
strong balance sheet with which to execute on and the ability to
capitalise on the growth drivers - I'm excited by the opportunities
that lie ahead."
Notice of half year results
The Group intends to announce its 2023 half year results on 20
September 2023.
(1) External market consensus for year ending 31 December 2023
is currently: Revenue GBP69.3m and Adjusted EBITDA GBP19.4m.
For further information please contact:
LBG Media plc Via Buchanan
Solly Solomou, Co-founder & CEO
Richard Jarvis, CFO
Mark Mochalski , Investor Relations
Fiona O'Nolan, Investor Relations investors@ladbiblegroup.com
Zeus Capital Limited Tel: +44 (0) 161 831
(Nominated Adviser & Broker) 1512
Dan Bate / Nick Cowles (Investment Banking) www.zeuscapital.co.uk
Benjamin Robertson (Equity Capital Markets)
Media enquiries Tel: +44 (0) 20 7466 5000
Buchanan www.buchanan.uk.com
Richard Oldworth / Chris Lane / Toto
Berger / Jack Devoy
Notes to editors
LBG Media is a multi-brand, multi-channel digital youth
publisher and is a leading disrupter in the digital media and
social publishing sectors. The Group produces and distributes
digital content across a range of mediums including video,
editorial, image, audio, and experience (virtual and augmented
reality). Since its inception in 2012, the Group has curated a
diverse collection of ten core specialist brands using social media
platforms (primarily Facebook, Instagram, Snapchat, Twitter,
YouTube and TikTok) and has built multiple websites to reach new
audiences and drive engagement. Each brand is dedicated to a
distinct popular interest point (e.g. sport, gaming etc.), which is
designed to achieve broader engagement, increase relevance and
ultimately build a loyal community of followers.
The Group operates two core routes to market: Direct revenue,
which is principally generated from the provision of content
marketing services to corporates, brand owners, marketing agencies
and other entities such as government bodies and where the
relationship with the client is held directly by LBG Media; and
Indirect revenue, which is generated via a third-party, such as a
social media platform or via a programmatic advertising exchange /
online marketplace, which holds the relationship with the brand
owner or agency.
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