Positive trading update and first acquisition29 Oct 2020 11:08
Elixirr International plc (AIM:ELIX), an established, global award-winning challenger consultancy, is pleased to announce the acquisition of the entire issued share capital of digital marketing firm Coast Digital Limited ("Coast Digital") for a maximum consideration of approximately £3.8 million plus an additional cash payment based on working capital at completion (the "Acquisition").
Highlights:
· Coast Digital is a UK-based digital marketing firm with 48 employees
· In the year ended 30 April 2020, Coast Digital recorded profit before tax of £0.85 million
· The Acquisition extends Elixirr's existing digital capabilities, enabling us to offer a full-service digital capability to our clients
· Coast Digital has an excellent reputation in the market - its clients rate it 26% higher than the competition and it has won numerous awards, including three awards in the Drum Recommends Digital Awards 2020
· First acquisition since IPO and fully in line with our 'House of Brands' strategy
· Immediately earnings enhancing
19 October 2020
ELIXIRR INTERNATIONAL PLC
("Elixirr", the "Company" or the "Group")
Trading Update
Elixirr International plc (AIM:ELIX), an established, global award-winning challenger consultancy, is pleased to provide an update on current trading.
Trading since 30 June 2020 has continued to be strong with the Group recording another record revenue month in September 2020, following previous record revenue months in June and July 2020.
As a result, Adjusted EBITDA for the year ending 31 December 2020 is now expected to be in excess of £9.25m on an IFRS 16 basis. On an IAS 17 basis, Adjusted EBITDA is expected to be in excess of £8.75m compared to a market expectation of £7.8m.
As at 30 September 2020, the Group had no debt with cash balances totalling £16.8m.