8 Oct 2018 07:00
8 October 2018
AMINO TECHNOLOGIES PLC
("Amino", the "Company" or the "Group")
Trading update
Amino Technologies plc (LSE: AMO), the global provider of media and entertainment technology solutions to network operators, provides the following trading update for the year ending 30 November 2018 ("FY2018").
Amino expects adjusted profit before tax for FY2018 to be c.$11.5 million, reflecting an intensification of external macroeconomic headwinds. This has resulted in lower than anticipated orders and higher than expected component price increases in the second half of the year.
We have seen customer decisions on orders delayed in the second half because of instability in the economies of certain emerging markets in which we operate, planned trade tariffs in the US which although do not yet impact Amino's products directly, have created confusion among our customers, and the diversity and depth of change in the industry. In addition, we expect component prices to continue to increase in the near future.
Cashflow remains strong and net cash at 30 November 2018 is expected to be higher than at 31 May 2018.
In spite of the external market headwinds facing the Company in the short term, the Board maintains its current commitment to increase Amino's dividend by no less than 10% for the full year. The Board also intends to maintain the FY2018 dividend level in absolute terms for a further two years at least.
This commitment reflects the Board's confidence in Amino's cash generation, market position and three long-term strategic growth drivers - IP/Cloud TV Everywhere, Operator Ready Android TV and Upcycling Legacy devices to next generation TV experiences.
Keith Todd CBE, Non-Executive Chairman, said:
"The Board remains confident in the strength and strategic direction of the Company and has committed to continue its dividend policy for this financial year and maintain this dividend level for at least two years thereafter. The diversity and depth of change in our industry this year has created difficult trading conditions in the short term, however the Company remains well positioned to take advantage of the all IP future, and remains profitable and cash generative."
This announcement is released by Amino Technologies plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Mark Carlisle, Chief Financial Officer.
For further information please contact:
Amino Technologies PLC | +44 (0)1954 234100 |
Donald McGarva, Chief Executive Officer |
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Mark Carlisle, Chief Financial Officer |
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finnCap Ltd (NOMAD and Joint Broker) | +44 (0)20 7220 0500 |
Matt Goode / Carl Holmes / Simon Hicks (Corporate Finance) Tim Redfern / Richard Chambers (Equity Capital Markets) |
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Liberum Capital Limited (Joint Broker) | +44 (0)20 3100 2000 |
Cameron Duncan / Bidhi Bhoma |
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FTI Consulting LLP (Financial PR) | +44 (0)20 3727 1000 |
Jamie Ricketts / Alex Le May / Darius Alexander / Chris Birt |
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About Amino Technologies plc
Amino is a global leader in media and entertainment technology solutions and an IPTV pioneer, working with over 250 operators in 100-plus countries. Drawing on more than 20 years' experience delivering IP/cloud innovation, Amino enables operators to meet the challenges they face as broadcast TV and online video moves to an all-IP future with managed over-the-top (OTT) offerings. We are expert in software, hardware and cloud implementation - able to deploy our own leading-edge technologies and integrate these with third-party and 'upcycled' legacy systems. At the forefront of the evolution of TV Everywhere, Amino helps operators to provide the features and functionality modern consumers are looking for in a multiscreen, multi-device entertainment world.
Having deployed over 10 million customer premise devices and the software necessary to link the back end to the user interface, we understand the issues operators face. We partner with operators to deliver end-to-end, operator-ready solutions that enable next-generation customer experiences. We 'upcycle' existing infrastructure to support more advanced services and integrate seamlessly with new technologies to form a unified ecosystem. The result is a fresh consumer offering based on a consistent user experience across all screens, building brand reputation, stemming churn, growing subscribers and increasing average revenue per user (ARPU).
Amino Communications is a wholly-owned subsidiary of Amino Technologies PLC and listed on the London Stock Exchange Alternative Investment Market (AIM: symbol AMO), with headquarters in Cambridge, United Kingdom, and global offices in California, Finland, Hong Kong and Portugal. For more details, visit www.aminocom.com