REG - LBG Media PLC - Pre-Close Trading update

LBG MediaAnnouncement

19/12/2022 07:00

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RNS Number : 0768K  LBG Media PLC  19 December 2022

   19 December 2022

 

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.

 

LBG Media plc

(The "Company" or "Group")

Pre-Close Trading update

LBG Media plc, the UK-based multi-brand, multi-channel digital youth
publisher, announces a pre-close trading update for the full year ending 31
December 2022 ("FY22").

Following a robust performance in the second half of the year ("H2") to date,
full year revenue is expected to be approximately £63m and adjusted EBITDA*
approximately £16m.

As anticipated, revenue growth has accelerated in the seasonally stronger
second half and Group revenue is expected to have grown by over 20% in this
period vs the prior year. There has been growth across both Direct and
Indirect segments against the backdrop of a challenging economic environment.
 

Given the momentum seen in H2, and cost reduction exercise completed in
November 2022, management is confident about the outlook for continued growth
in 2023.

 

 

 

* Earnings before interest, tax, depreciation, and amortisation adjusted for
loss on disposal of intangible assets, share based payments and exceptional
items

 

For further information please contact:

 LBG Media plc                                              investors@ladbiblegroup.com
 Solly Solomou, Co-founder & CEO

 Tim Croston, Chief Financial Officer

 Clara Melia, Investor Relations

 Mark Mochalski, Investor Relations
 Zeus                                                       Tel: +44 (0) 161 831 1512

(Nominated Adviser & Broker)                              www.zeuscapital.co.uk (http://www.zeuscapital.co.uk/)

Dan Bate / Nick Cowles / Benjamin Robertson
 Media enquiries                                            Tel: +44 (0) 20 7466 5000

Buchanan                                                  www.buchanan.uk.com (http://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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