REG - Zinc Media Group PLC - Trading Update

Zinc MediaAnnouncement

27/11/2023 07:00

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RNS Number : 6503U  Zinc Media Group PLC  27 November 2023

27 November 2023

 

 

Zinc Media Group plc

 

("Zinc" or the "Group")

 

Trading update

 

 

Zinc Media Group plc (AIM: ZIN), the award-winning television and content
production group, is pleased to announce that following continued new business
conversion the Group is trading in line with market expectations* for FY23 and
has a record order book due to be delivered in FY24.

 

 ·   Total revenue won and expected to be recognised in FY23 is £38m.  This is an
     increase of £3m since the last trading update in September 2023. With £38m
     of revenue already won and expected to be recognised this year, revenue for
     the whole year will significantly exceed the £30m of revenue generated in
     FY22.
 ·   The Group is confidently positioned to deliver a record year of revenue and
     expects adjusted EBITDA for the full year to be in line with expectations.
 ·   The Group has already secured £14m of revenue for FY24, which is £6m more
     than at the same point last year looking ahead to FY23.

 

Significant recent commissions include the Group's largest ever USA television
series with the working title Top Gun: The Next Generation, worth
approximately $9m of revenue to the Group. The series follows the world-class
U.S. Navy pilots as they work to join the next generation of the Navy's most
elite strike fighter force. Filming will take place in FY24 and FY25 and it is
being produced for National Geographic Channel, a joint venture between The
Walt Disney Company and the National Geographic Society, and includes direct
to consumer platforms Disney+ and Hulu.

 

Mark Browning, Chief Executive Officer, Zinc Media Group, says:

 

"We are delighted to announce that the Group is in excellent shape and
outperforming the market despite macro headwinds impacting commissioning
budgets. Securing flagship projects such as Top Gun: The Next Generation is a
testament to the quality of our offering, whilst all divisions in the business
continue to perform well. We have already secured our highest level of forward
bookings for the next financial year, putting us on track for another strong
year in FY24 and allowing us to view the future with confidence."

 

* market expectations for 2023 revenue is £35.7m and adjusted EBITDA is
£1.0m

 

 

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

 

 

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 / Sam Butcher

 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 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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