REG - Aferian PLC - Trading Statement

AferianAnnouncement

05/12/2023 07:15

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RNS Number : 6399V  Aferian PLC  05 December 2023

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

5 December 2023

 

AFERIAN PLC

 

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

 

Trading Update

 

Aferian plc (LSE AIM: AFRN), the B2B video streaming solutions company,
announces a trading update for the year ended 30 November 2023.

 

The Group expects to report revenue of c$47-48 million and a positive adjusted
EBITDA of c$1.6-2.6 million. While our pipeline is well-developed, like many
others, the Group is experiencing a lengthening of sales cycles with
procurement taking longer during the contracting phase. The signing of these
deals which are at an advanced stage have now shifted into Q1 FY24.

 

Following management actions taken during the last twelve months which have
reduced the Group's annualised cost base by c$12 million (comprising c$7.5
million operating expenses and c$4.5 million capex) we expect further adjusted
EBITDA improvements in FY24.

 

Net debt at 30 November 2023 (including a shareholder loan of $1.4 million) is
expected to have reduced in the last six months to c.$6.0 million (31 May
2023: $12.9 million).

 

Aferian expects to report its full year results for the year ended 30 November
2023 in March 2024.

 

The person responsible for the release of this announcement on behalf of the
Company for the purposes of MAR is Mark Carlisle.

 

-ENDS-

 

 

 

 

For further information please contact:

 

 Aferian plc                                                         +44 (0)1954 234100
 Mark Wells, Chairman

 Donald McGarva, Chief Executive Officer

 Mark Carlisle, Chief Financial Officer

 Investec bank plc                                                   +44 (0)20 7597 5970
 David Anderson / Patrick Robb / Nick Prowting / Cameron MacRitchie

 FTI Consulting (Financial communications)                           +44 (0)20 3727 1000
 Matt Dixon / Emma Hall

 

 

 

 

About Aferian plc

 

Aferian plc (AIM: AFRN) is a B2B video streaming solutions company. Our
end-to-end solutions bring live and on-demand video to every kind of screen.
We create the forward-thinking solutions that our customers need to drive
subscriber engagement, audience satisfaction, and revenue growth.

 

It is our belief that successful media companies and services will be those
that are most consumer-centric, data driven and flexible to change. We focus
on innovating technologies that enable our customers stay ahead of evolving
viewer demand by providing smarter, more cost-effective ways of delivering
end-to-end modern TV and video experiences to consumers. By anticipating
technological and behavioural audience trends, our software solutions empower
our customers to heighten viewer enjoyment, drive growth in audience share and
ultimately their profitability.

 

Aferian plc has two operating companies: 24i, which focusses on streaming
video experiences, and Amino, which connects Pay TV to streaming services. Our
two complementary companies combine their products and services to create
solutions which ensure that people can consume TV and video how and when they
want it. Our solutions deliver modern TV and video experiences every day to
millions of viewers globally, via our growing global customer base of over 500
service providers.

 

Aferian plc is traded on the London Stock Exchange's AIM stock market (AIM:
symbol AFRN). Headquartered in Cambridge, UK, the Company has over 300 staff
located in 11 offices, including major European cities as Amsterdam, Helsinki,
Copenhagen and Brno, as well as in San Francisco and Hong Kong.  For more
information, please visit www.aferian.com (http://www.aferian.com/) .

 

 

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