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Pin to quick picksEagle Eye Regulatory News (EYE)

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AGM Statement

18 Nov 2021 07:00

RNS Number : 7503S
Eagle Eye Solutions Group PLC
18 November 2021
 

 

18 November 2021

 

Eagle Eye Solutions Group plc

("Eagle Eye", the "Group", or the "Company")

 

AGM Statement

 

Expanding customer relationships deliver revenue and EBITDA growth

Eagle Eye, a leading SaaS technology company that creates digital connections enabling personalised, real-time marketing through coupons, loyalty, apps, subscriptions and gift services, is pleased to provide the following trading update, ahead of the Company's Annual General Meeting ("AGM") to be held at 1.00 p.m. today.

 

The Group has had a positive start to the financial year, delivering revenue growth of 35% in Q1 versus the prior year, an increase from the Q4 FY21 growth of 27%. As a result, the Board now expects adjusted EBITDA for the full year ending 30 June 2022 to be comfortably ahead of management expectations. This strong start to the financial year will allow the business to increase its investment in people to support future growth and capitalise on the global shift towards personalised digital marketing by retailers.

 

This strong performance has principally been driven by the significant customers won in prior periods moving into the transactional phase, including Woolworths, Staples US Retail and Virgin Red. The Group's broadening client base has delivered revenue growth across all of its major geographical regions of North America, UK & Europe and Australia & New Zealand.

 

In Q1, the Group has continued to deliver new customer wins and deepened its existing relationships, with highlights including the expansion of the Pret a Manger coffee subscription service into France and in the USA, the selection of Eagle Eye by Halfords Group plc as a partner to deliver a customer engagement solution with a targeted launch in early 2022, and a trial with existing customer, Asda, for a new loyalty programme, Asda Rewards.

 

Following the full lifting of lockdown in the UK in July 2021, the Group has seen a normalisation within its Food & Beverage and Non-Grocery revenue. The Group is now actively developing new brand customer discussions to capitalise on its significantly expanded hospitality network in which brands can offer promotions.

 

Balance sheet

 

We are delighted to announce a new three year £5m funding facility with Silicon Valley Bank, with up to an additional £2.5m available, subject to credit approval at the time, should there be an appropriate investment opportunity. This provides the business with security and flexibility over its financing options to deliver on its growth aspirations. Cash management continues to be strong with headroom ahead of management expectations.

 

Confident outlook

 

The Group is focused on delivering sustainable and profitable growth. This continues to be achieved through new customer wins and deepening the relationships with existing customers. The Group's sales pipeline continues to grow, both in the UK and internationally and, the Group has a proven ability to grow its existing customer relationships considerably over time through expanded use of the AIR platform.

 

To support these dual growth channels, the Group will continue to extend the capabilities of AIR to ensure it has the digital marketing solutions its customers require. The Group will carefully invest in increased sales and marketing activities, alongside its partner strategy, to capitalise on the strong starts made in the North American and Australian markets.

 

Having delivered a successful Q1 and with a record sales pipeline, the Board looks to the future with growing confidence.

 

 

Notes:

All financials based on unaudited figures.

Adjusted EBITDA excludes share-based payment charges along with depreciation, amortisation, interest and tax from the measure of profit.

 

 

 

For further information, please contact:

 

Tim Mason, Chief Executive Officer

Lucy Sharman-Munday, Chief Financial Officer

 

 

 

Tel: 0844 824 3686

Investec (Nominated Advisor and Joint Broker)

Corporate Finance: David Anderson / Sebastian Lawrence

Corporate Broking: Sara Hale / Will Brinkley / Charlotte Young

 

Tel: 020 7597 5970

 

Shore Capital (Joint Broker)

Corporate Finance: Hugh Morgan / Daniel Bush

Corporate Broking: Henry Willcocks

Tel: 020 7408 4090

 

Alma PR

Caroline Forde / Robyn Fisher / Molly Gretton

 

Tel: 020 3405 0205

 

About Eagle Eye

 

Eagle Eye is a leading SaaS technology company transforming marketing by creating digital connections that enable personalised performance marketing in real time through coupons, loyalty, apps, subscriptions and gift services.

Eagle Eye AIR enables the secure issuance and redemption of digital offers and rewards at scale, across multiple channels, enabling a single customer view. We create a network between merchants, brands and audiences to enable customer acquisition, interaction and retention at lower cost whilst driving marketing innovation.

The Company's current customer base comprises leading names in UK Grocery, Retail, Leisure and Food & Beverage sectors, including Asda, Sainsbury's, Tesco, Waitrose and John Lewis & Partners, Virgin Red, JD Sports, Pret A Manger, Greggs, Mitchells & Butlers, Pizza Express; in North America, Loblaws, Shoppers Drug Mart, Southeastern Grocers and Staples US Retail and in Australia & New Zealand, Woolworths Group and The Warehouse Group.

 

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.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
AGMFFLFUWEFSEIF
Date   Source Headline
9th Feb 20177:00 amRNSIssue of Equity
6th Feb 20177:00 amRNSExtension of credit facility
2nd Feb 20174:08 pmRNSHolding(s) in Company
31st Jan 20177:00 amRNSTrading Update
17th Jan 20177:00 amRNSDirectorate Change
18th Nov 201612:17 pmRNSResult of AGM
18th Nov 20167:00 amRNSAGM Trading Update
21st Oct 20165:36 pmRNS2016 Annual Report & Accounts and Notice of AGM
28th Sep 20161:14 pmRNSNotification of Transactions by a Director/PDMR
23rd Sep 20162:21 pmRNSIssue of Share Options
21st Sep 20167:00 amRNSPreliminary Results
13th Sep 20165:48 pmRNSHolding(s) in Company
9th Sep 20167:00 amRNSStrategic Board changes
24th Jun 20167:00 amRNSEagle Eye secures credit facility with Barclays
16th Jun 20169:49 amRNSDirector Dealings
10th Jun 20167:00 amRNSPre-close trading update
26th May 20167:00 amRNSAppointment of Chief Sales Officer
5th Apr 20167:00 amRNSDirector/PDMR Shareholding
11th Mar 20167:00 amRNSDirector/PDMR Shareholding
10th Mar 20167:00 amRNSInterim Results
2nd Mar 20167:00 amRNSAppointment of NOMAD and Corporate Broker
2nd Mar 20167:00 amRNSNotice of Results
1st Mar 20167:00 amRNSRetirement of Non-Executive Director
3rd Feb 20167:00 amRNSTrading Update
3rd Feb 20167:00 amRNSEagle Eye wins a multi-year contract with Loblaw
15th Jan 201610:31 amRNSHolding(s) in Company
14th Jan 20169:03 amRNSIssue of Share Options
5th Jan 20167:00 amRNSAppointment of Chairman
2nd Dec 20157:00 amRNSCapital Markets Day
17th Nov 20151:15 pmRNSResult of AGM
17th Nov 20157:00 amRNSAGM Trading Update
21st Oct 20157:00 amRNS2015 Annual Report & Accounts and Notice of AGM
22nd Sep 20157:00 amRNSDirector Dealing and Issue of Shares
16th Sep 20157:00 amRNSPreliminary Results
11th Sep 20151:01 pmRNSNotice of Results
7th Jul 20157:00 amRNSPre-close trading update
7th Jul 20157:00 amRNSMulti-year contract with Sainsbury's
19th Mar 20154:33 pmRNSHolding(s) in Company
17th Mar 201511:25 amRNSHolding(s) in Company
12th Mar 20151:48 pmRNSResults of Placing
12th Mar 20157:00 amRNSProposed placing to raise approximately GBP4.0 m
12th Mar 20157:00 amRNSInterim Results
4th Mar 20157:00 amRNSNotice of Interim Results
2nd Mar 20151:41 pmRNSHolding(s) in Company
27th Feb 20157:12 amRNSHolding(s) in Company
9th Feb 20157:00 amRNSEagle Eye & TGCS partnership signs 2 year contract
20th Jan 20157:00 amRNSTrading Update
16th Dec 20144:34 pmRNSIssue of Share Options
4th Dec 20147:00 amRNSCapital Markets Day
18th Nov 20142:16 pmRNSResult of AGM

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