Last checked at 9 Nov 2020 07:00
One Media iP Group Plc - Trading UpdateOne Media iP Group Plc - Trading Update
PR Newswire
London, November 8
9 November 2020
One Media iP Group Plc
("One Media” or the "Company")
Trading Update
One Media iP Group Plc (AIM: OMIP), the digital music rights acquirer, publisher and distributor, is pleased to provide the following update on trading for the full year ended 31 October 2020.
Countering the ongoing wider macro challenges, the Company continues to trade in line with market expectations and expects to report revenues for year of circa £4m and EBITDA of £1.4m, an increase of 14% and 30% respectively on the prior year. One Media retains a healthy cash position with an unaudited cash balance of £6.7m as at 31 October 2020.
Following the recent successful fundraising in August 2020, the Company continues to evaluate acquisition opportunities to be executed primarily through its Harmony IP asset release programme and full catalogue acquisitions.
The Company’s full year results are expected to be released in March 2021.
Michael Infante, CEO of One Media iP, commented: “Based on the Group’s strong performance to date and the continued growth in music streaming, the Board is confident in the outlook for the business as we remain focused on exploring further acquisition opportunities.
“We are also encouraged to observe that the sector continues to attract significant investment from outside of the industry, which we believe will help to build further interest in our business and strategy. We look forward to keeping the market updated as we continue to deliver on our growth strategy.”
-Ends-
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged the release of this information is Michael Infante, Chief Executive Officer of the Company.
| One Media iP Group Plc Michael Infante - CEO Claire Blunt – Chairman | +44 (0)175 378 5500 +44 (0)175 378 5501 |
| Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray Jo Turner Ludovico Lazzaretti | +44 (0)20 7213 0880 |
| Cenkos Securities plc (Broker) Max Hartley Max Gould Michael Johnson (Sales) | +44 (0)20 7397 8900 |
| Yellow Jersey PR (PR & IR) Charles Goodwin Annabel Atkins | +44 (0)20 3004 9512 |
About One Media iP Group Plc
One Media is a digital music rights acquirer, publisher and distributor. The Group specialises in purchasing and monetising intellectual property rights with proven, repeat income streams. One Media adds value to its content by maximising its availability in over 600 digital stores globally, including Apple Music, YouTube, Amazon and Spotify.
One Media’s music is also widely used for synchronisation in film, TV and digital gaming whilst its video content is primarily viewed on YouTube where One Media operates over 20 YouTube channels as a certified partner.
One Media is listed on the London Stock Exchange on the AIM index, under the symbol ‘OMIP’.
For further information, please visit www.omip.co.uk and www.tcat.media
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company’s future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.