REG - Aferian PLC - Trading Update and Change of Adviser

AferianAnnouncement

11/12/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241211:nRSK5825Pa&default-theme=true

RNS Number : 5825P  Aferian PLC  11 December 2024

11 December 2024

AFERIAN PLC

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

Trading Update for the Year Ended 30 November 2024

and

Appointment of Nominated Adviser and Broker

 

Aferian plc ("Aferian" or the "Group"), the B2B video streaming solutions
company, provides the following trading update for the year to 30 November
2024.

Financial Highlights

The Group expects to report:

·     Full year FY24 revenue of c$26 million (24i c$14.2m, Amino
c$11.8m). This includes second half revenue growth of c13% compared to H1
2024.

·     Significantly improved adjusted EBITDA in H2 FY24 of c$2.0 million
compared to an adjusted EBITDA loss of $2.4 million in H1 FY24 - a c.$4.4
million turnaround driven by H2 revenue growth and headcount driven cost
reductions.

·    A material reduction of $2.4m in net debt at 30 November 2024 to
$12.5 million (31 May 2024: $14.9 million).

A combination of Amino's contracted order book and 24i's annual recurring
revenue means the group has approximately $18m of FY25 revenues already
committed.

Operational Highlights

24i: 24i's mission is to improve the video entertainment experience for
consumers by delivering its next generation 24i Video Cloud. This ready-made
configurable platform enables customers across the Broadcast, PayTV and Direct
to Consumer streaming segments to both upgrade the user experience and drive
operational efficiencies. The 24i offering has considerable competitive
advantages including a single platform, speed of set up and ease of
configuration by the merchant. As a result, 24i delivered several new customer
wins in the second half of FY24.

Amino: Following a focused period of investment in sales and marketing, Amino
received higher-than-expected sales orders in FY24 for its Enterprise Video
and Digital Signage devices. In November 2024, Amino also secured a
significant order from a second major gambling operator for c$1.3m This
operator is migrating from legacy satellite delivery to next-generation,
low-latency IP video delivery using Amino's enterprise video and digital
signage devices and SaaS management platform across its retail locations.
Amino's Enterprise Video and Digital Signage devices are seen as the primary
growth driver for Amino. Encouragingly, sales orders also increased in the
latter half of FY2024 for PayTV devices.

Mark Carlisle, CEO of Aferian Plc, commented:

"FY24 marks a year of transformation and progress for Aferian with both the
Amino and 24i businesses becoming EBITDA positive and cash flow generative in
the second half. That strong second-half performance reflects both the
dedication of our teams to delivering for our customers and increasing demand
for our products. As a result of new customer wins and an increase in sales
orders in the second half of 2024, we expect this strong momentum to continue
into 2025."

Further details on the Group's full-year financial performance will be
provided in our audited results announcement.

Appointment of Nominated Adviser and Broker

The Company also announces the appointment of Zeus Capital Limited ("Zeus") as
its Nominated Adviser and Broker with immediate effect.

 

For further information contact:

 Aferian plc                                                  +44 (0) 122 364 1990
 Mark Carlisle, Chief Executive Officer

 Zeus (Nominated Adviser and Broker)                          +44 (0) 20 3829 5000
 Hugh Morgan, Alexandra Campbell-Harris (Investment Banking)
 Benjamin Robertson (ECM)

 

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/) .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTGZMMZRGKGDZM