REG - TruFin PLC TruFin PLC - Trading Update and Share Buyback

TrufinAnnouncement

20/05/2025 07:00

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RNS Number : 3023J  TruFin PLC  20 May 2025

20 May 2025
TruFin plc

("TruFin" or the "Company" or together with its subsidiaries the "Group")
Trading Update and Share Buyback

 

TruFin is pleased to announce that due to the continued strong performance
of Balatro, the hit console and mobile game published by Playstack Ltd,
combined with positive performances from Abiotic Factor and the recently
launched DarkWater, TruFin now expects its financial performance for the year
ending 31 December 2025 to be materially ahead of current market
expectations. Group revenue is now expected to be not less than £51m with
adjusted EBITDA(1) expected to be not less than £8m and adjusted Profit
Before Tax(1) to be not less than £3m.

Gross revenue for the four months ended 30 April 2025 was not less than £25m
with unrestricted cash at the end of April 2025 of not less than £15m.

Following the strong start to the year and in conjunction with a review of the
Company's current capital structure, the Board has determined that:

·    TruFin currently holds capital in excess of its liquidity
requirements;

·    all high-return internal investments are fully funded and no
immediate acquisition opportunities are available; and

·    the Company's shares trade at a discount to an internally calculated
intrinsic value.

As a result, the Board intends to shortly initiate a share buyback programme
of up to £4m and a further announcement will be made in due course.

The Board remains committed to allocating capital where it generates the
highest return profile for shareholders, when balanced with the risk profile
of the potential returns. The Board will continue to explore reinvestment
opportunities, acquisitions, and the continual returning of excess funds in a
disciplined and value-enhancing manner.

James van den Bergh, Chief Executive Officer, commented:

"We're off to a strong start in 2025.

Playstack continues to outperform, with the success of Balatro and Abiotic
Factor significantly enhancing its position as a compelling asset-whether as a
standalone business or for a strategic buyer.

Given the strength of our balance sheet and the Board's view that the current
share price undervalues our assets and their future prospects, we believe a
share buyback is a prudent step to further enhance shareholder returns.

We remain confident in the Group's outlook for 2025 and beyond, and we look
forward to updating shareholders on our continued progress throughout the
year."

Notes

(1) Excluding share-based payments

The information contained within this Announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No.596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019. By the publication of this Announcement via a Regulatory
Information Service, this inside information is now considered to be in the
public domain. The person responsible for arranging for the release of this
Announcement on behalf of the Company is Pav Subramaniam.

For further information, please contact:

 TruFin plc                                                        0203 743 1340

James van den Bergh, Chief Executive Officer
07779 229508

Kam Bansil, Investor Relations
 Panmure Liberum Limited (Nominated Adviser and Corporate broker)  0203 100 2000

Chris Clarke

Edward Thomas

 

TruFin plc is the holding company of an operating group comprising three
growth-focused technology businesses operating in niche markets: early payment
provision, invoice finance and mobile games publishing. The Company was
admitted to AIM in February 2018 and trades under the ticker symbol: TRU. More
information is available on the Company website: www.TruFin.com.

 

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