REG - Zinc Media Group PLC - Trading Update

Zinc MediaAnnouncement

07/02/2023 07:00

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RNS Number : 0831P  Zinc Media Group PLC  07 February 2023

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation.

 

7 February 2023

 

Zinc Media Group plc

("Zinc" or the "Group")

Trading Update

 

Zinc Media Group plc (AIM: ZIN), the award-winning television, brand and audio
production group, is pleased to announce that the Group has performed very
well since its previous trading update on 21 November 2022, delivering strong
financial performance to the end of FY22 and starting the year in its
strongest position in five years, with several high value new commissions and
an excellent pipeline of further opportunities. The Group expects to report
its audited results for FY22 by the end of April.

 

Financial highlights:

·     Revenue and Adjusted EBITDA for FY22 are expected to be ahead of
current market expectations, with the Group profitable (at EBITDA level)
during the second half of the year

·      Strong Q4 performance boosted by The Edge which had its best
trading year ever

·      A positive outlook for the financial year ahead with:

o  £15m revenue booked and anticipated to be delivered in FY23 (7 February
2022: £9m for delivery in FY22), an increase of £9m since the trading update
in November 2022

o  £12m of highly advanced revenue on the pipeline for delivery in FY23 (7
February 2022: £6m)

o  The Edge with record pre-booked revenue for the year ahead

·      Robust balance sheet with cash of £3.8m as at 2 February 2023

 

Mark Browning, Chief Executive Officer, commented:

"This is the strongest start to a financial year during my time at Zinc and
comes off the back of our expected over performance against market
expectations for FY22. The Group has an excellent pipeline and a high amount
of revenue at contracting or highly advanced stage for FY23. The Edge is
performing ahead of initial expectations, and we have launched another new TV
label which will further diversify our product and client base in FY23 and
FY24. Our latest series from Brook Lapping, Putin vs The West, is a timely
reminder that Zinc Media Group produces some of the world's most watched and
most talked about television."

 

New commissions and other operational highlights:

·     Tern TV starts the year in production with ten returning series.

·     The latest series from Brook Lapping, Putin vs The West, premiered
on the BBC and iPlayer last week and led the news agenda on its day of
release. The series explores the decisions which led to the war in Ukraine and
included access to David Cameron, Teresa May, Boris Johnson and Volodymyr
Zelensky, along with the Director of the CIA.

·     Launch of Atomic Television, a new TV production label based in
Bristol specialising in premium specialist factual within the genres of
history, science and adventure which will pitch in to the lucrative US market,
alongside the UK.

·      Red Sauce starts the year producing its first commission for
Channel 4, a potential returning series, plus a returning series for UKTV.

·   The Edge's strong performance in Q4 came from all parts of the business
and included a significant production for the global agency McCann, in
addition to continued growth within its long-term client base.

 

Further information can be found at:  https://www.zincmedia.com/news/
(https://www.zincmedia.com/news/)

 

For further information, please contact:

Zinc Media Group
plc
           +44 (0) 20 7878 2311

Mark Browning, CEO / Will Sawyer, CFO

www.zincmedia.com (http://www.zincmedia.com)

Singer Capital Markets (Nominated Adviser and Broker)
            +44 (0) 20 7496 3000

James Moat / George Tzimas / Alex Emslie

IFC Advisory Ltd (Financial
PR)
           +44 (0) 20 3934 6630

Graham Herring / Zach Cohen

 

About Zinc Media Group

Zinc Media Group plc is a premium television and content creation group.

The award-winning and critically acclaimed television labels now comprise
Brook Lapping, Red Sauce, Supercollider, Tern Television, Rex and Atomic,
along with Bumblebee Post Production, and produce programmes across a wide
range of factual genres for UK and international broadcasters.

Zinc Communicate specialises in developing cross-platform content for brands,
businesses, and rights holders.

The Edge Picture Company produces film content for brands and corporates in
the UK, Qatar and other international markets.

For further information on Zinc Media please visit www.zincmedia.com
(http://www.zincmedia.com/) .

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