Mediazest MDZ

13 May 2024

MediaZest Plc

(“MediaZest”, the “Company”, or the “Group”)

Trading Update

Positive H1 performance confirmed

Strong momentum continues into H2 with further contract wins

MediaZest plc (AIM: MDZ), the creative audio-visual solutions provider, provides an update to shareholders on a positive trading performance for the six months ended 31 March 2024, and continued strong trading momentum going into the second half of the financial year ended 30 September 2024.

Trading for the six months ended 31 March 2024 has been encouraging. In line with the positive outlook confirmed in the Company’s Full Year Results (announced on 5 March 2024), and the update provided in the recent AGM statement (announced on 28 March 2024), long term project roll outs with key customers have contributed to an improved first half performance. First half revenues will show a return to year-on-year growth and the Company expects to deliver an improved EBITDA performance for H1 2024 compared to H1 2023. MediaZest expects to issue its Half-year Report in the last week of June 2024.

The Company also announces a strong start to the second half of the financial year with a series of new orders in recent weeks from a wide range of customers, including well-known brands that MediaZest has engaged with before such as Lululemon, Pets at Home, Arc’teryx, Kuoni, Harrods, Britvic, and Castore. The Company continues to see a notable increase in demand for audio-visual technology, in the Retail, Automotive and Corporate Office space environments in which MediaZest works.

New orders represent in aggregate additional revenues in excess of £350,000 relating to project work. These projects will also attract further revenues in the form of related ongoing support and maintenance revenues which will further contribute to the Company’s growing annual run rate for recurring revenues.

As well as projects across the UK, new business wins also include installations in the Netherlands, Germany and France, several of which are expected to be delivered in June 2024 and the pipeline of potential new project work in Europe continues to expand.

In addition to delivering new projects with existing clients, the Group is in advanced discussions with a number of well-known UK or Europe-wide brands which would represent new clients to MediaZest and a considerable opportunity for future growth. The Company has already confirmed proof of concept tests for two major brands in the UK and expects to conclude a multiple installation agreement across a number of sites in Europe ahead of the summer.

Geoff Robertson, Group Chief Executive, commented: “In addition to the new business wins already achieved this year, we are currently in final negotiations on a number of projects which, if successful, will lead to significant contract confirmations before the year end. We continue to grow recurring revenue streams and add new clients to our roster, and remain positive about the Group’s future potential. We have bolstered our sales and marketing team internally as we build value in the business for the coming years.”

For further information please contact:    

About MediaZest (www.mediazest.com)

MediaZest is a creative audio-visual systems integrator that specialises in providing innovative marketing solutions to leading retailers, brand owners and corporations, but also works in the public sector in both the NHS and Education markets. The Group supplies an integrated service from content creation and system design to installation, technical support, and maintenance. MediaZest was admitted to the London Stock Exchange's AIM market in February 2005.