28 Jan 2016 07:00
Date: | 28 January 2016 |
On behalf of: | NetPlay TV plc ('the Company') along with its subsidiaries (the 'Group' or 'NetPlay' or 'NetPlay TV') |
Embargoed until: | 0700hrs |
NetPlay TV plc
Trading Update
NetPlay TV plc, the interactive gaming company, provides the following trading update for the year ended 31 December 2015.
The Board is pleased to report that the Group's KPIs remain strong and the Group continues to be highly cash generative. As such, it expects that overall 2015 Net Revenue and Group Adjusted EBITDA* will be in-line with market expectations.
2015 has been a milestone year for the Group in terms of both strategic and operational achievements, whilst also being the first full calendar year following the introduction of the Point of Consumption (POC) duty.
POC Mitigation
Following the successful implementation of the Group's revised marketing strategy and previously announced POC mitigation programme, the Board is pleased to announce that it has been successful in offsetting a significant proportion of the POC impact.
Key Television Broadcast Relationships Extended
During 2015 and the early part of 2016 the Group secured contract extensions until 2019 with both of its key broadcast partners, ITV and Channel 5. The relationships with these terrestrial broadcasters are core to NetPlay's marketing strategy, and these continue to be an important and unique source of customer acquisition for the Group.
Acquisition of Digital Marketing Business
The Group acquired in August 2015 the trade and assets of Otherside Inc, a digital marketing business, which has benefited the Group in number of key areas. Most importantly it has allowed the Group to diversify its revenue stream, as well as supporting the Group's expanding digital strategy across its brand portfolio. Trading for this business post-acquisition has been strong, and with the integration largely complete, the Board expects to realise further synergies from the Group's existing gaming operations.
NetPlay continues to pursue a strategy of actively considering all relevant acquisition opportunities as part of our focus on increasing shareholder value.
Enquiries:
NetPlay TV plc | www.netplaytv.com |
Bjarke Larsen, Chief Executive Officer Akshay Kumar, Group Finance Director
| Via Redleaf |
Redleaf Communications | Tel: 020 7382 4730 |
Rebecca Sanders-Hewett Sarah Fabietti Susie Hudson | netplay@redleafpr.com |
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Shore Capital (Nominated Adviser and Broker) | Tel: 020 7408 4090 |
Stephane Auton Edward Mansfield
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Notes to Editors:
About NetPlay TV plc
NetPlay TV plc is admitted to trading on the AIM market of the London Stock Exchange (NPT). The Group operates a number of interactive gaming services under a UK remote operating license and Alderney gaming license, including SuperCasino.com, Jackpot247.com and Vernons.com. Its TV services can also be viewed 24 hours a day live on Sky Channel 862, and every evening on ITV and Channel 5.
The Company is focused on the delivery of a converged interactive gaming experience allowing its players to interact with its games on a variety of platforms, TV, internet, mobile and tablet from a common integrated wallet.
* Adjusted EBITDA is a non-GAAP, company specific measure and excludes acquisition related costs, reorganisation and other expenses, impairment of intangible assets and share based payment charges from continuing operations.