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Regulatory News


Pre-close Trading Update

Tue, 12th Feb 2019 07:00


RNS Number : 6915P
Ebiquity PLC
12 February 2019

Ebiquity Plc

Pre-close Trading Update

Ebiquity plc ("Ebiquity" or the "Company"), a leading independent marketing and media consultancy, announces a pre-close trading update for the financial year ended 31 December 2018, ahead of the preliminary results announcement planned for 25 March 2019.

Ebiquity's trading for the year ended 31 December 2018 was in line with the Board's expectations. Both the continuing business, comprising Media, Analytics and Tech, and the Advertising Intelligence business whose sale to Nielsen Media Research Limited ("Nielsen") was completed on 2 January 2019, performed as anticipated. The company's net debt which stood at 28 million as at 31 December 2018 has been reduced as a result of the sale by approximately 20 million (after allowing for taxation and transaction costs).

Following the disposal of the advertising Intelligence business, Ebiquity is focussing as planned on becoming the global, leading independent marketing and media consultancy. The continuing consultancy businesses achieved revenue growth of 8% in 2018 and the Board is targeting a similar growth rate in the current year. In addition to driving revenue growth, the Company's recently strengthened management team will continue to concentrate on delivering scale benefits and operational alignment across the more focussed business. In the short term however, the Company's cost base will continue to reflect the need to fulfil contractual obligations to provide support services to Nielsen in relation to the disposed business. Therefore, the Board expects profitability for the continuing consultancy businesses in the current year to remain at a similar level to the year just ended.

Ebiquity believes it has significant market opportunities through its ability to respond to areas of growing importance to advertisers and to exploit current fundamental shifts in the marketplace. These include an increased focus on data-driven, evidence-based marketing; growing demand for media transparency; greater scrutiny of digital media investments; and understanding of the heightened complexity in advertising technology and data.

Ebiquity is planning to hold a capital markets day in the early summer.

Michael Karg, CEO, commented:

"We are pleased to have completed the sale of the Advertising Intelligence business to Nielsen after a protracted process in 2018. We look forward to continuing to drive growth globally in our core consulting business in Media, Analytics and Tech. The Group's management team is now focussed on seizing the significant market opportunities as well as on aligning our business following the divestiture."

12 February 2019

Enquiries:

Ebiquity plc

Michael Karg (Chief Executive Officer)

Alan Newman (Chief Financial and Operating Officer)

Via Instinctif Partners

Instinctif Partners

Matthew Smallwood

Guy Scarborough

020 7457 2020

Numis Securities Limited

Nick Westlake (NOMAD)

Matt Lewis

020 7260 1000


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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Ebiquity (EBQ)



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