REG - Digitalbox PLC - FY2022 Trading Update and Notice of Results

DigitalboxAnnouncement

12/01/2023 07:00

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RNS Number : 4542M  Digitalbox PLC  12 January 2023

12 January 2023

 

Digitalbox plc

("Digitalbox" or the "Company")

 

FY2022 Trading Update and Notice of Results

 

Digitalbox plc (AIM: DBOX), the mobile-first digital media business, which
owns Entertainment Daily, The Daily Mash, The Tab and The Poke, is pleased to
provide the following trading update ahead of the publication of its results
for the twelve months to 31 December 2022. The Company expects to announce its
results on 28 March 2023.

 

Despite the challenging conditions across the entire media industry in Q4 2022
- traditionally the Company's most important trading period - management
action ensured the Company continued to deliver very strong margins. As a
result, Digitalbox expects EBITDA* for the year ended 31 December 2022 to be
comfortably ahead of the £1m delivered in 2021 and broadly in line with the
most recent market guidance, despite the economic headwinds resulting in
revenue below market expectations. As at 31 December 2022, the Company had
more than £2.8m in gross cash.

 

James Carter, CEO, Digitalbox, said: "The end of 2022 was both an exciting and
turbulent period. We continued to deliver on our strategy by acquiring The
Poke and took on the challenge of maximising profitability within a tightening
economy. Our agile approach to operating the business meant that we were
pleased to grow our margins and our EBITDA year on year.

 

"The Poke provides a major opportunity for expansion in future years. After a
pleasing start to life at Digitalbox, The Poke will quickly benefit from being
brought onto our Graphene platform as we move into 2023. We are also
finalising the acquisition of the assets of TVGuide.co.uk, which we expect to
be complete in the next few months. We are conscious of the difficult economic
conditions, yet we are confident that our high-quality, popular brands will
remain strong and quickly benefit as economic conditions improve."

 

*All EBITDA figures quoted are for Adjusted EBITDA, defined as the profit from
operations after deducting depreciation, amortisation, share-based payments,
acquisition and listing costs, direct costs associated with business
combinations and capital restructure costs.

 

 

END

 

 

Market abuse regulation: This announcement contains inside information for
the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

 

 

Enquiries:

 

 Digitalbox                                                  c/o SEC Newgate
 James Carter, CEO

 Panmure Gordon                                              Tel: 020 7886 2500

 (Nominated Adviser, Financial Adviser & Joint Broker)
 Alina Vaskina / James Sinclair-Ford (Corporate Advisory)
 Rupert Dearden (Corporate Broking)

 Leander Capital Partners (Joint Broker)                     Tel: 07786150915
 Alex Davies

 SEC Newgate (Financial Communications)                      Tel: 020 3757 6880
 Robin Tozer / Molly Gretton / Harry Handyside               digitalbox@secnewgate.co.uk

 

 

About Digitalbox plc

 

Based in Bath, UK, Digitalbox is a 'pure-play' digital media business with the
aim of profitable publishing at scale on mobile platforms.

 

Digitalbox operates the following trading brands, "Entertainment Daily", "The
Daily Mash", "The Tab", and "The Poke". Entertainment Daily produces and
publishes online UK entertainment news covering TV, showbiz and celebrity
news. The Daily Mash produces and publishes satirical news content. The Tab is
the UK's biggest youth culture site fuelled by students. The Poke expertly
curates and editorialises the funniest content from around the web and social
media.

 

Digitalbox generates revenue from the sale of advertising in and around the
content it publishes. The Group's optimisation for mobile enables it to
achieve revenues per session significantly ahead of market norms for
publishers on mobile.

 

 

 

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