REG - Zoo Digital Group - AGM Statement and Trading Update

Zoo DigitalAnnouncement

20/09/2022 07:00

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RNS Number : 9325Z  Zoo Digital Group PLC  20 September 2022

20 September 2022

 

ZOO DIGITAL GROUP PLC

("ZOO", the "Group" or the "Company")

 

AGM Statement and Trading Update

ZOO Digital Group plc (AIM: ZOO), a leading provider of end-to-end
cloud-based localisation and media services to the global entertainment
industry, will hold its Annual General Meeting (AGM) at 5.00pm today. At
the meeting, Gillian Wilmot, Chairman, will make the following statement:

"I am thrilled to provide an update ahead of the end of our first half year,
building on the positive narrative contained in our preliminary results
statement released on the 7(th) July 2022.

"Strong momentum has continued across the business as we continue to take
share in a growing market, benefitting from our cloud-based platforms,
extensive freelancer network and embedded client relationships. With our
global scale and end-to-end offering, we are one of the few vendors capable of
meeting the requirements of major media companies to take their content to
international audiences.

"Revenues for the half year are expected to be at least $51 million (FY22H1:
$26.9 million), which equates to growth over the first half of FY22 of at
least 89% and in excess of 17% over the second half of FY22 (FY22H2:
$43.5 million). Consequently, we expect to deliver a significant increase in
EBITDA compared to the comparator period in FY22, benefitting from operational
gearing as the business scales. This increased profitability has also
translated into a substantial improvement in our cash position, which will
support our ambitious growth plans.

"We have scaled our operations to support a significant expansion of capacity
for localisation and media services including the new mastering service, and
this has been rewarded with an increase in regular monthly orders.

"The regional hubs we have established in strategic international locations
have performed better than our expectations and we are expanding their
capabilities to meet the demand from our global customers.

"To enable us to fulfil the growing order book arising from our expanding
customer relationships, we have continued to recruit additional staff across
the Company.

"I would like to thank our shareholders for their continuing support and would
also like to extend my thanks to all ZOO colleagues around the world for their
commitment and hard work that enables us to delight our customers with
industry-leading services and technology for which ZOO has become renowned.

"A strong pipeline of work and excellent customer relationships gives us
continued and unwavering confidence in the future, and I look forward to
updating shareholders on our progress in due course."

Presentation slides that will accompany an investor update following the AGM
will be available on the Company's website later today. Shareholders may
register to join a live stream of the AGM and investor briefing here:
https://www.zoodigital.com/agm-2022/ (https://www.zoodigital.com/agm-2022/)

 

The Company intends to announce its interim financial results for the six
months to 30 September 2022 in November 2022.

 

This announcement contains inside information as defined in Article 7 of the
Market Abuse Regulation No. 596/2014 ("MAR").  Upon the publication of this
announcement, this inside information is now considered to be in the public
domain. The person responsible for making this announcement is CFO Phillip
Blundell.

 

For further enquiries please contact:

 

 ZOO Digital Group plc                     +44 (0) 114 241 3700
 Stuart Green - Chief Executive Officer
 Phillip Blundell - Chief Finance Officer
 Kam Bansil - Investor Relations

 Stifel Nicolaus Europe Limited            +44 (0) 20 7710 7600

 Fred Walsh / Tom Marsh

 Instinctif Partners                       +44 (0) 207 457 2020

 Matthew Smallwood / Joe Quinlan           zoo@instinctif.com (mailto:zoo@instinctif.com)

 

About ZOO Digital Group plc:

 

ZOO Digital supports major Hollywood studios and streaming services to
globalise their content and reach audiences everywhere, by providing
world-leading, technology-enabled localisation and media services.

 

Founded in 2001, ZOO Digital operates from hubs in Los Angeles, London, Dubai,
Turkey, South Korea, India and Denmark with a development and production
centre in Sheffield, UK. The company is targeting $100m sales in the medium
term.

 

The Group provides media services through its platforms that include: ZOOsubs,
ZOOdubs, ZOOstudio. Its full-service proposition delivers the end-to-end
services required to prepare both original and catalogue content for digital
distribution; these services include dubbing, subtitling & captioning,
metadata creation & localisation, artwork localisation and media
processing. Alongside this offering, ZOO also provides its customers with
management platforms and strategic solutions to support their own internal
globalisation operations.

 

ZOO is a go-to service partner for media businesses looking to globalise their
content across different territories, languages and distribution platforms.
Using its innovative technology-enabled approach, ZOO helps its customers to
reduce time to market, lower costs and deliver high quality products to their
global audiences. The business has frameworks in place with all major
Hollywood studios and streaming services. Its customers include Disney,
NBCUniversal, HBO and Paramount.

 

ZOO's competitive advantage arises from three interlinking factors - the
leading role it has played in the digital transformation of its sector; the
world class proprietary platforms that it develops to enable this
transformation; and the global supply chain of thousands of freelancers,
working collaboratively in ZOO's platforms, which delivers services that scale
easily to meet demand. These factors combine to make ZOO uniquely geared to
capitalise on new market opportunities in a fast-paced and constantly evolving
industry.

 

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

 

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