REG - One Media iP Group - Trading Update

One Media IPAnnouncement

10/01/2025 07:00

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RNS Number : 8074S  One Media iP Group PLC  10 January 2025

10 January 2025

 

 

One Media iP Group plc

("One Media" or the "Company")

 

Trading Update

 

One Media iP Group plc (AIM: OMIP), the digital music rights acquirer,
publisher and distributor, provides the following trading update for the
financial year ended 31 October 2024.

 

Post period disposal of non-core assets

On 27 November 2024, post year end, the Company announced that it had entered
into an agreement with Round Group Limited ("Round") to dispose of its entire
interest in the capital of TCAT Limited ("TCAT"), its technology subsidiary,
in exchange for a shareholding in Round. In the twelve months to 31 October
2023, TCAT contributed an operating loss of £566,632 to One Media's overall
operating profit of £498,138. As of 31 October 2023, TCAT had net assets of
£258,008.

 

The completion of this transaction fully aligns with the Group's long-term
strategy to prioritise its core expertise of acquiring and monetising digital
music rights and music and video affiliated business activities, while the
divestment has also enabled a further streamlining of operations. The Company
and its management are now in a stronger position to enhance shareholder
value, with the immediate priority being the implementation of a consolidation
phase aimed at growing cash reserves to further its strategic music business
objectives.

 

Full Year 2024 performance

For the twelve months to 31 October 2024, the Group expects to deliver total
revenue from continuing operations of circa £5.0 million (FY2023: £5.0
million) and net revenue of approximately £3.4 million (FY2023: £3.4
million). EBITDA from continuing operations is expected to be circa £2.1
million (FY2023: £1.8 million), reflecting a 15% increase, with the increase
underpinned by active cost management. Cash reserves at the year-end were
£0.5 million (FY2023: £1.2 million).

 

Michael Infante, CEO of One Media iP said: "Despite a challenging market
backdrop, we delivered robust revenues and achieved a significant improvement
in EBITDA during last year, underlining our ability to extract value from our
music rights portfolio while carefully managing costs. The strategic disposal
of TCAT puts us in a much stronger position for 2025, as we refocus the
business on our core expertise of music rights management. To this end, our
immediate priority will be to restore our cash reserves while we continue to
assess opportunities to enhance the portfolio and deliver value for
shareholders."

 

The Board looks forward to providing further updates in due course alongside
the release of the Group's full year results.

 

ENDS

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation. The person who arranged the release of this
information is Michael Infante, Chief Executive Officer of the Company.

 

For further information, please contact:

 

 One Media IP Group Plc
 Michael Infante JP                                  Chief Executive

                                                     Tel: +44 (0)175 378 5500

 Claire Blunt                                        Chairman

                                                     Tel: +44 (0)175 378 5501

 Cairn Financial Advisers LLP                        Nominated Adviser
 Liam Murray / Ludovico Lazzaretti                   Tel: +44 (0)20 7213 0880

 Cavendish                                           Broker
 Charlie Coombe / Giles Balleny (Corporate Finance)  Tel: +44 (0)20 7397 8900

 Michael Johnson Dale Bellis (sales)

 Claire Turvey, Fourth Pillar                        Financial PR

                                                     Tel: +44 (0)7850 548 198

 

 

About One Media iP Group plc

One Media iP Group plc is a leading digital music rights acquirer, publisher
and distributor. The Group specialises in the acquisition and exploitation of
music and video intellectual property rights. Listed on AIM, the Group is
committed to driving value through the acquisition and management of
high-quality IP assets.

One Media is listed on the AIM Market of the London Stock Exchange under the
ticker 'OMIP'.

 

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