REG - Aferian PLC - Trading Statement

AferianAnnouncement

05/11/2024 07:00

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RNS Number : 8928K  Aferian PLC  05 November 2024

AFERIAN PLC

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

Strong H2 trading

 

Aferian plc (LSE AIM: AFRN), the B2B video streaming solutions company,
provides the following trading update for the year to 30 November 2024.

The Group has continued to win new business and has received increased sales
orders in the second half of the year. In line with the Group's strategy, the
key driver for this is the continued demand for improvements to the video
streaming experience for consumers across multiple markets.

·      Strong H2 revenue growth - as a result, revenue in the second
half of the year is expected to be approximately 20% higher than in the first
half.

·      Positive adjusted EBITDA in H2 - revenue growth in H2 plus cost
reduction actions taken earlier in the year means that adjusted EBITDA for the
second half is expected to be approximately $2 million.

·      Net debt reduction - continue to expect a reduction to net debt
by year-end, as cost savings and working capital initiatives implemented in
the first half generate improvements in free cash flow during the second half
of the year.

Mark Carlisle, CEO of Aferian plc, commented:

"We are encouraged by the strong performance in the second half of the year,
with increased sales orders and new business wins across the Group. Combined
with our cost reduction efforts and improved cash flow, we are well-positioned
to close the year on a positive note and drive sustained growth into the
future."

Aferian will provide a further trading update for the full financial year to
30 November 2024 in early December 2024.

For further information please contact:

 

 Aferian plc                                    +44 (0)1954 234100
 Mark Carlisle, Chief Executive Officer

 Investec plc (NOMAD and Broker)                +44 (0)20 7597 5970
 David Anderson / Patrick Robb / Nick Prowting

 

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 is traded on the London Stock Exchange's AIM stock market (AIM:
symbol AFRN). Headquartered in Cambridge, UK, the Company operates across the
USA, Europe and Asia. For more information, please visit www.aferian.com
(http://www.aferian.com/) .

 

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