TIDMZIN
RNS Number : 0831P
Zinc Media Group PLC
07 February 2023
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation.
7 February 2023
Zinc Media Group plc
("Zinc " or the "Group")
Trading Update
Zinc Media Group plc (AIM: ZIN), the award-winning television,
brand and audio production group, is pleased to announce that the
Group has performed very well s ince its previous trading update on
21 November 2022 , delivering strong financial performance to the
end of FY22 and starting the year in its strongest position in five
years, with several high value new commissions and an excellent
pipeline of further opportunities. The Group expects to report its
audited results for FY22 by the end of April.
Financial highlights:
-- R evenue and Adjusted EBITDA for FY22 are expected to be
ahead of current market expectations , with the Group profitable
(at EBITDA level) during the second half of the year
-- S trong Q4 performance boosted by T he Edge which had its best trading year ever
-- A positive outlook for the financial year ahead with:
o GBP 15m revenue booked and anticipated to be delivered in FY23
(7 February 2022: GBP9m for delivery in FY22), an increase of GBP9m
since the trading update in November 2022
o GBP12m of highly advanced revenue on the pipeline for delivery
in FY23 ( 7 February 2022: GBP6m )
o The Edge with record pre- booked revenue for the year
ahead
-- R obust balance sheet with cash of GBP3.8m as at 2 February 2023
Mark Browning, Chief Executive Officer, commented :
" This is the s trongest start to a financial year during my
time at Zinc and comes off the back of our expected over
performance against market expectations for FY22. The Group has an
excellent pipeline and a high amount of revenue at contracting or
highly advanced stage for FY23. The Edge is performing ahead of
initial expectations, and we have launched another new TV label
which will further diversify our product and client base in FY23
and FY24. Our latest series from Brook Lapping, Putin vs The West ,
is a timely reminder that Zinc Media Group produces some of the
world's most watched and most talked about television."
New commissions and other operational highlights:
-- Tern TV starts the year in production with ten returning series.
-- The latest series from Brook Lapping, Putin vs The West,
premiered on the BBC and iPlayer last week and led the news agenda
on its day of release. The series explores the decisions which led
to the war in Ukraine and included access to David Cameron, Teresa
May, Boris Johnson and Volodymyr Zelensky, along with the Director
of the CIA.
-- Launch of Atomic Television, a new TV production label based
in Bristol specialising in premium specialist factual within the
genres of history, science and adventure which will pitch in to the
lucrative US market, alongside the UK.
-- Red Sauce starts the year producing its first commission for
Channel 4, a potential returning series, plus a returning series
for UKTV.
-- The Edge's strong performance in Q4 came from all parts of
the business and included a significant production for the global
agency McCann, in addition to continued growth within its long-term
client base.
Further information can be found at:
https://www.zincmedia.com/news/
For further information, please contact:
Zinc Media Group plc +44 (0) 20 7878 2311
Mark Browning, CEO / Will Sawyer, CFO
www.zincmedia.com
Singer Capital Markets (Nominated Adviser and Broker) +44 (0) 20
7496 3000
James Moat / George Tzimas / Alex Emslie
IFC Advisory Ltd (Financial PR) +44 (0) 20 3934 6630
Graham Herring / Zach Cohen
About Zinc Media Group
Zinc Media Group plc is a premium television and content
creation group.
The award-winning and critically acclaimed television labels now
comprise Brook Lapping, Red Sauce, Supercollider, Tern Television,
Rex and Atomic, along with Bumblebee Post Production, and produce
programmes across a wide range of factual genres for UK and
international broadcasters.
Zinc Communicate specialises in developing cross-platform
content for brands, businesses, and rights holders.
The Edge Picture Company produces film content for brands and
corporates in the UK, Qatar and other international markets.
For further information on Zinc Media please visit
www.zincmedia.com .
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END
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