REG-MediaZest Plc: Final Results
27/02/2026 07:02
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.
27 February 2026
MediaZest Plc
(“MediaZest”, the “Company”, or the “Group”)
Final Results
MediaZest plc (AIM: MDZ), the creative audio-visual solutions provider,
announces its consolidated audited results for the year ended 30 September
2025 (“FY25”), a period of considerable growth, with a substantial
improvement in EBITDA performance and an enhanced cash position following a
strong trading performance in FY25.
Financial Highlights:
Year ended 30 September 2025 FY25 FY24
£’000 £’000
Revenue 4,154 3,074
Gross Profit 2,346 1,595
Gross Margin 56% 52%
EBITDA 1 331 14
Profit after tax/(Loss) 98 (214)
Earnings per share (pence)/(Loss) 0.0058 (0.0133)
Cash 99 64
1 EBITDA is defined as (Loss)/Profit before tax
adding back finance costs, depreciation and amortization. See Accounting
Policies for reconciliation from reported results to EBITDA.
Operational Highlights:
* Delivered a strong last four months of FY25, with installations
and roll out programmes with long-standing clients within the year including:
* First Rate -
significant new contract signed, providing digital currency board
installations for First Rate's clients
* Pets at Home – delivered
solutions in multiple stores, including ongoing support and maintenance and
content services
* Lululemon Athletica - LED and
audio solutions were provided for stores in Berlin, Milan, and the new London
flagship store in Regent Street
* Arc'teryx - delivered LED
solutions and digital community screens in six European Flagship stores -
Chamonix, Milan, Stockholm, Manchester, Parndorf Austria and Bicester Village
in Oxfordshire.
* Kia – work continued in
Ireland, the Netherlands and Slovakia with digital signage solutions and
associated ongoing support services delivered to additional dealerships in
each territory
* Hyundai - delivered digital
signage solutions to support and promote EV ranges in dealerships within the
UK
* Duty Free – worked across the
globe in multiple locations to support a large brand within these stores
including digital signage solutions and local support hubs
* Appointment of new Chairman, Keith Edelman, in June 2025
Post Year-End Highlights:
* Successful restructuring of debt obligations, led by our new
Chairman, securing agreement from loan holders to write off £529,000 worth of
interest and leave a principal sum of £785,609 to repay over the next six
years
* Raised gross proceeds of £215,000 with new and existing
investors, whilst bringing on Dr Graham Cooley as a new significant
shareholder to the Company
Geoff Robertson, Chief Executive Officer of MediaZest, commented:
“ We are
extremely pleased with the strong performance the Company has delivered in
FY25, working with our long-standing clients. It’s been pleasing to see the
strong long-term demand continue across all three core sectors with our
outlook for FY26 remaining strong, targeting more year-on-year growth and
further increased profitability in FY26.”
Notice of Investor Presentation
Geoff Robertson, Chief Executive Officer, and Keith Edelman, Chairman, will
provide a live presentation in relation to the Company’s Final Results via
the Investor Meet Company platform on Wednesday 11 March 2026 at 11am GMT. The
presentation is open to all existing and potential shareholders. Investors can
sign up to Investor Meet Company for free and register here:
https://www.investormeetcompany.com/mediazest-plc/register-investor
.
For further information please contact:
MediaZest Plc www.mediazest.com
Geoff Robertson, Chief Executive Officer via Walbrook PR
SP Angel Corporate Finance LLP (Nomad) Tel: +44 (0)20 3470 0470
David Hignell / Adam Cowl
Hybridan LLP (Corporate Broker) Tel: +44 (0)20 3764 2341
Claire Louise Noyce
Oberon Capital (Corporate Broker) Tel: +44 (0)20 3179 5300
Nick Lovering / Adam Pollock
Walbrook PR (Media & Investor Relations) Tel: +44 (0)20 7933 8780 or mediazest@walbrookpr.com
Paul McManus / Lianne Applegarth Alice Woodings Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303 / +44 (0)7407 804 654
About MediaZest (
www.mediazest.com )
MediaZest is a creative audio-visual solutions provider that specialises in
delivering innovative digital signage and audio systems to leading retailers,
brand owners and corporations. The Group offers an integrated service from
content creation and system design to installation, technical support, and
maintenance. MediaZest was admitted to the London Stock Exchange's AIM in
February 2005.
MediaZest’s new AIM rule 26 investor site is now available to view on the
Company website here:
https://www.mediazest.com/about/investor-relations/
MediaZest plc
Chairman's Statement
for the Year Ended 30
September
2025
Introduction
The Board presents the consolidated audited results for the year ended 30
September 2025 ("FY25") for MediaZest plc ("MDZ", or the "Group", or the
"Company") and its wholly owned subsidiary companies MediaZest International
Ltd ("MDZI") and MediaZest International BV ("MDZBV") which together
constitute the Group.
About MediaZest
MediaZest is a creative audio-visual solutions provider that specialises in
delivering innovative digital signage and audio systems. The Group offers an
integrated service from content creation and system design to installation,
technical support, and maintenance and operates in three core sectors:
1. Retail - Major high street retail brands continue to
transition to digital signage displays including window displays, self-service
kiosks and large-scale displays, such as LED and videowalls.
2. Automotive - The role of technology in automotive
showrooms has also evolved, with major automotive brands increasingly using
audio-visual solutions on their sites.
3. Corporate Offices - Typical projects in this sector
include hybrid meeting rooms, video conferencing technology and innovation
centres.
During the last financial year, the Group worked with customers such as
Pets at Home, Lululemon Athletica, KIA, Hyundai, First Rate
Exchange Services ('First Rate'), Wincanton, Harrods, Arc'Teryx
and Castore , whilst also
completing multiple projects for a large consumer brand in Duty Free Shops
across Europe, Middle East, Africa and Asia Pacific.
Overview
The Board is delighted to report that the trading performance of the Group has
improved significantly over the last year, as a result of new business wins in
recent months and continued roll out programmes with existing clients.
Recurring revenue streams grew strongly due to these wins.
MediaZest has maintained year-on-year revenue growth, delivered a return to
net profitability, with a substantial improvement in EBITDA profit (see
definition in Accounting Policies), and has further improved the Company's
overall cash position following a strong trading performance in FY25.
Post year end, the Group significantly improved its balance sheet by
successfully restructuring its debt obligations, securing agreement from loan
holders to write off £529,000 worth of interest and leave a principal sum of
£785,609 to repay over the next six years. This agreement is detailed below
and includes cessation of interest charges on these principal amounts moving
forwards.
Financial Review
The augmented FY25 trading performance reflects the roll out of key client
projects during the year, including new business wins. Group revenues rose 35%
to £4.154m (FY24: £3.074m).
At the beginning of the financial year, the Board targeted year-on-year
revenue growth, alongside a return to net profitability and an increase in
EBITDA profitability, and we are pleased to deliver against all these
objectives.
We have also seen further growth in longer-term recurring revenue contracts,
having concluded the financial year with a recurring annual run rate of
approximately £1.2m, up from £0.9m as at September 2024.
Year ended 30 September FY25 FY24 FY23 FY22
Revenues (£'000) 4,154 3,074 2,335 2,820
Group results for the year and Key Performance Indicators ("KPIs"):
* Revenue for the year increased 35% to £4,154,000 (FY24:
£3,074,000)
* Gross profit increased 47% to £2,346,000 (up from FY24:
£1,595,000)
* Improving gross margin of 56% (FY24: 52%)
* Administrative expenses excluding depreciation and amortisation
increased to £2,015,000 (FY24: £1,582,000)
* EBITDA profit increased strongly to £331,000 (FY24: £14,000)
* Profit After Tax improved to £98,000 (FY24: £214,000 Loss)
* Basic and fully diluted earnings per share 0.0058 pence (FY24:
0.0133 pence loss per share)
* Net assets of the Group were £689,000 (FY24: £591,000), with
further improvement post-year end following the debt restructuring detailed
below
* Cash in hand at 30 September 2025 was £99,000 (FY24: £64,000)
Operational Review
FY25 was a strong year for the Company, with our best ever profit performance
and multiple ongoing client engagements delivered and contracted into future
years.
The last four months of FY25 were particularly fruitful across the client
base, continuing installations and roll out programmes with long-standing
clients including Pets at Home, First Rate, Lululemon
Athletica, Arc'teryx and Kia
, generating approximately £1.8m in revenue, with a low-six figure
net profit after tax.
The Group announced a significant new contract with First
Rate in July 2025 to provide digital currency board
installations for First Rate's clients. This included deployments across
approximately 1,200 locations in the UK representing a significant investment
by First Rate over the next five years in its business, predominantly
delivered in the next 24 months. The roll out of this solution follows the
successful completion of a "proof of concept" project with First Rate, which
the Company announced in November 2024. First Rate and MediaZest are working
together to develop and deploy solutions for multiple First Rate clients as
part of this partnership, as First Rate continues to deliver innovative
solutions to those clients as the leading foreign currency provider in the UK.
Throughout the year we continued to deliver solutions in multiple stores for
Pets at Home , including ongoing support
and maintenance and content services. LED and audio solutions were provided
for Lululemon Athletica stores in
Berlin, Milan, and the new London flagship store in Regent Street as MediaZest
continues to work with them across Europe.
For Arc'Teryx we delivered LED
solutions and digital community screens in six European Flagship stores -
Chamonix, Milan, Stockholm, Manchester, Parndorf Austria and Bicester Village
in Oxfordshire.
Our work with KIA continued in
Ireland, the Netherlands and Slovakia with digital signage solutions and
associated ongoing support services delivered to additional dealerships in
each territory. We continued to work with Hyundai
in the UK, delivering digital signage solutions to support and
promote their EV ranges in dealerships and providing ongoing support for
several solutions in the dealer network.
The Group also undertook work in Duty Free
stores across much of the globe to support a large brand within these
stores including digital signage solutions and local support hubs and
installations using our partner network for those installs outside of EMEA.
In the corporate market, we deployed advance video conferencing solutions to a
range of clients, including a refurbishment and refresh of the UK HQ of a
global luxury fashion brand in Summer 2025.
New Chairman
In June 2025, the Group announced the appointment of Keith Edelman as Chairman
of the Company with immediate effect. Keith succeeded Lance O'Neill, who
retired from the Board, having been Chairman for over 18 years. Keith has over
40 years industry experience, working with FTSE 100, 250, AIM-listed and
privately held companies across retail, hospitality, infrastructure, finance,
sport, and digital sectors.
Debt Restructure
Post year end, the Group has successfully restructured its debt obligations,
having actively engaged with all its key debt holders (the "Debt Holders").
MediaZest has also repaid the invoice discounting facility in full during the
year and reached an agreement (the "Agreement") with shareholders and/or Debt
Holders on existing loans and outstanding interest.
The Agreement, which was announced on 9 December 2025, will write off
£529,000 worth of interest and leave a principal sum of £785,609 to repay
over the next six years, concluding in FY31. Importantly, interest charges
have ceased moving forwards. This restructuring will allow the Group to invest
further in its improvement and growth.
Fundraising
Post year end, an equity fundraising in February 2026 raised £215,000 before
fees via the issue of 358,334,950 ordinary shares of 0.01p in the capital of
the Company to new and existing investors at a price of 0.06p per placing
share.
Outlook
The Board continues to believe that the outlook for the new financial year,
which has already begun exceptionally strongly, is encouraging, building on
the success of FY25.
Long-term project roll-outs with existing customers, notably First Rate and
our Duty Free client, are amongst several confirmed substantial projects in
the new financial year. Recurring revenue streams continue to grow accordingly
to support these projects.
Our Dutch subsidiary continues to perform well and attract client interest,
whilst we consistently seek new opportunities in Europe.
As previously stated, we believe that adding scale to the current operational
business via potential M&A activity would unlock shareholder value. The Board
therefore continues to evaluate potential acquisition targets that would
further enhance the Group's business and be value accretive.
The Board remains confident in the outlook for the Group, and will target
further year-on-year growth and increased profitability in FY26. The Group is
targeting revenue for the year ending 30 September 2026 of £5 million for the
first time in its history and associated profit after tax in excess of
£250,000.
Keith Edelman
Chairman
26 February 2026
Consolidated Statement of Profit or Loss
for the Year Ended 30 September 2025
2025 2024
CONTINUING OPERATIONS £'000 £'000
Revenue 4,154 3,074
Cost of sales (1,808) (1,479)
GROSS PROFIT 2,346 1,595
Administrative expenses (2,123) (1,655)
OPERATING PROFIT/(LOSS) 223 (60)
Finance costs (120) (151)
PROFIT/(LOSS) BEFORE INCOME TAX 103 (211)
Income tax (5) (3)
PROFIT/(LOSS) FOR THE YEAR 98 (214)
Profit/(loss) attributable to:
Owners of the parent 98 (214)
Earnings per share expressed
in pence per share:
Basic 0.0058 (0.0133)
Diluted 0.0058 (0.0133)
Consolidated Statement of Profit or Loss and Other Comprehensive Income for
the Year Ended 30 September 2025
2025 2024
£'000 £’000
PROFIT/(LOSS) FOR THE YEAR 98 (214)
OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 98 (214)
Total comprehensive income attributable to:
Owners of the parent 98 (214)
Consolidated Statement of Financial Position
30 September 2025
2025 2024
ASSETS £'000 £'000
NON-CURRENT ASSETS
Goodwill 2,772 2,772
Owned
Intangible assets 9 -
Property, plant and equipment 90 56
Right-of-use
Property, plant and equipment 284 355
3,155 3,183
CURRENT ASSETS
Inventories 195 76
Trade and other receivables 1,641 649
Cash and cash equivalents 99 64
1,935 789
TOTAL ASSETS 5,090 3,972
EQUITY SHAREHOLDERS' EQUITY
Called up share capital 3,686 3,686
Share premium 5,331 5,331
Share option reserve 146 146
Retained earnings (8,474) (8,572)
TOTAL EQUITY 689 591
LIABILITIES NON-CURRENT LIABILITIES
Financial liabilities – borrowings and
lease liabilities 448 492
CURRENT LIABILITIES
Trade and other payables Financial liabilities – borrowings and 2,670 1,412
lease liabilities 1,283 1,477
3,953 2,889
TOTAL LIABILITIES 4,401 3,381
TOTAL EQUITY AND LIABILITIES 5,090 3,972
Consolidated Statement of Changes in Equity for the Year Ended 30 September
2025
Called up Share
share Retained Share option Total
capital earnings premium reserve equity
£'000 £'000 £'000 £'000 £'000
Balance at 1 October 2023 3,656 (8,358) 5,244 146 688
Changes in equity
Issue of share capital 30 - 87 - 117
Total comprehensive income - (214) - - (214)
Balance at 30 September 2024 3,686 (8,572) 5,331 146 591
Changes in equity
Total comprehensive income - 98 - - 98
Balance at 30 September 2025 3,686 (8,474) 5,331 146 689
Consolidated Statement of Cash Flows for the Year Ended 30 September 2025
2025 2024
£'000 £'000
Cash flows from operating activities
Cash generated from operations 478 (108)
Net cash from operating activities 478 (108)
Cash flows from investing activities
Purchase of intangible fixed assets (10) -
Purchase of tangible fixed assets (70) (28)
Net cash (used in) investing activities (80) (28)
Cash flows from financing activities
Other loans receipt/(repayment) 30 13
Shareholder loan net (repayment)/receipt (79) 84
Bounce back loan (repayment) (10) (8)
Payment of lease liabilities (71) (7)
Proceeds of share issue - 120
Share issue costs - (3)
Invoice financing (repayment) (203) -
Interest paid (30) (39)
Net cash (used in)/from financing activities (363) 160
Increase in cash and cash equivalents 35 24
Cash and cash equivalents at beginning of year 64 40
Cash and cash equivalents at end of year 99 64
Notes to the Group Preliminary and Final Results Statement for the Year Ended
30 September 2025
STATUTORY INFORMATION
MediaZest plc is a public limited company which is listed on the AIM market of
the London Stock Exchange, limited by shares; domiciled and incorporated in
London, United Kingdom, under company registration number 05151799. The
principal place of business, as well as registered office, is 9 Woking
Business Park, Albert Drive, Woking, Surrey GU21 5JY.
ACCOUNTING POLICIES
Basis of preparation
The Group financial information set out in this Preliminary and Final Results
Announcement does not constitute the Group's statutory financial statements
for the years ended 30 September 2025 or 2024. The
financial information has been extracted from the Group's statutory financial
statements for the years ended 30 September 2025 and
2024. The auditors have reported on those financial statements; their report
was unqualified, did not include references to any matters to which the
auditors drew attention by way of emphasis and did not contain a statement
under Section 498(2) or (3) of the Companies Act 2006.
The statutory accounts for the year ended 30 September
2025 will be filed with the Registrar of Companies. The statutory accounts for
the year ended 30 September 2024 have been filed with the
Registrar of Companies. The report of the auditors on those statutory accounts
was also unqualified, and also did not contain a statement under section
498(2) or (3) of the Act.
Alternative Performance Measure - EBITDA
This is defined as Profit/(Loss) before Tax, adjusted for finance costs,
depreciation and amortisation. The company uses this as a valuable measurement
of performance after administrative expenses are deducted, but before
depreciation, amortisation, finance costs and tax are considered.
Operating profit/(loss)
This is defined as Profit before Tax, adjusted for finance cost.
These can be reconciled as follows:
2025 2024
2025 £'000 2024 £'000
Profit/(loss) on ordinary activities before taxation 103 (211)
Finance costs 120 151
Operating profit/(loss) 223 (60)
Administrative expenses – depreciation & amortisation 108 74
EBITDA 331 14
1. Going concern
The Group made a profit after tax of £98,000 and has net current liabilities
of £2,018,000 at year end. The financial statements have been prepared on a
going concern basis, which the Directors consider appropriate based on the
following key judgment:
Critical judgment – basis for going concern
Management has concluded that the Group will continue to meet its liabilities
as they fall due for at least 12 months from the date of approval of these
financial statements. This assessment is based on contracted revenue, secured
extensions of existing client projects, recurring income streams, and the
impact of the debt restructuring and equity fundraising completed after the
year end.
The Directors have considered financial projections covering the 12 -
month period from the date of approval of the accounts, which
incorporate:
1. revenue from contracts already won or contractually committed
2. the continuation of major roll - out projects with
existing clients
3. recurring revenues that increased significantly during 2026.
Post year - end financing and debt restructuring
Following the year end, the balance sheet was significantly strengthened
through both a restructuring of shareholder debt and an equity fundraising
completed in February 2026. Under the restructuring, £529,000 of accrued
interest was written off and the remaining principal of £785,609 will be
repaid over six years, concluding in FY31. Should there be a default in the
agreed payment plan, and the Company fails to remediate with the shareholder,
the balance becomes repayable on demand. Interest charges ceased from 1 May
2025. These actions provide improved liquidity and the ability to invest in
operational delivery and growth.
Management has engaged closely with key clients to understand their
implementation plans for the coming year, particularly in relation to ongoing
roll - outs and confirmed projects scheduled for delivery in
the next 12 months.
Having reviewed the forecasts and the associated risks and sensitivities, the
Directors are satisfied that the Group has adequate financial resources to
continue operating for the foreseeable future. Accordingly, the financial
statements are prepared on a going concern basis.
The financial statements do not include any adjustments that would arise if
the going concern basis were inappropriate.
1. Segmental reporting
Revenue for the year can be analysed by customer location as follows:
2025 2024
£'000 £'000
UK and Channel Islands 3,127 2,652
Rest of Europe 784 422
Rest of World 243 -
4,154 3,074
An analysis of revenue by type is shown below:
2025 2024
£'000 £'000
Hardware and installation 2,933 2,529
Support and maintenance - recurring revenue 1,221 453
Other services (including software solutions) - 92
4,154 3,074
Analysis of revenue recognition
2025 2024
£'000 £'000
Recognised at a point in time 2,933 2,573
Recognised over time 1,221 501
4,154 3,074
Analysis of future obligations:
2025 2024
£'000 £'000
Performance obligations to be satisfied in the next year 1,774 402
Performance obligations to be satisfied in later years - -
1,774 402
Segmental information and results
The Chief Operating Decision Maker ('CODM'), who is responsible for the
allocation of resources and assessing performance of the operating segments,
has been identified as the Board. IFRS 8 requires operating segments to be
identified on the basis of internal reports that are regularly reviewed by the
Board. The Board have reviewed segmental information and concluded that there
is only one operating segment.
The Group does not rely on any individual client, however there are three
clients who have contributed over 10% of total revenue. The following revenues
arose from sales to the Group's largest client, which account for 20% of
overall revenue:
2025 2024
£'000 £'000
Goods and services 514 503
Service and maintenance 348 168
862 671
1. EARNINGS PER SHARE
2025 2024
Profit/(loss) £'000 £'000
Profit/(loss) for the purposes of basic and diluted earnings per share being net loss attributable to equity shareholders 98 (214)
2025 2024
Number of shares Number Number
Weighted average number of ordinary shares for the purposes of basic earnings per share 1,696,425,774 1,615,055,911
Number of dilutive shares under option or warrant - -
2025 2024
Weighted average number of ordinary shares for the purposes of dilutive loss per share 1,696,425,774 1,615,055,911
Basic earnings per share is calculated by dividing the profit after tax
attributed to ordinary shareholders of £98,000 (2024 loss: £214,000) by the
weighted average number of shares during the year of 1,696,425,774 (2024:
1,615,055,911).
The diluted profit per share is identical to that used for basic profit per
share as the options are "out of the money" and therefore anti-dilutive.
4. RECONCILIATION OF PROFIT/(LOSS) BEFORE INCOME TAX TO CASH GENERATED FROM
OPERATIONS
Group
2025 2024
£'000 £'000
Profit/(loss) before income tax 103 (211)
Depreciation charges 108 74
Tax on ordinary activities - (3)
Finance costs 120 151
(Increase)/decrease in inventories 331 11
Increase in trade and other receivables (119) 21
Increase in trade and other payables (992) (244)
1,258 104
Cash generated from operations 478 (108)
5. CASH AND CASH EQUIVALENTS
2025 2024
£'000 £'000
Cash in hand 99 64
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