AFERIAN PLC
("Aferian", the "Company" or the "Group")
Strong H2
trading
Aferian plc (LSE AIM: AFRN), the B2B
video streaming solutions company, provides the following trading
update for the year to 30 November 2024.
The Group has continued to win new
business and has received increased sales orders in the second half
of the year. In line with the Group's strategy, the key driver for
this is the continued demand for improvements to the video
streaming experience for consumers across multiple
markets.
· Strong H2 revenue
growth - as a result, revenue in the
second half of the year is expected to be approximately 20% higher
than in the first half.
· Positive adjusted EBITDA in
H2 - revenue growth in H2 plus cost
reduction actions taken earlier in the year means that adjusted
EBITDA for the second half is expected to be approximately $2
million.
· Net debt
reduction - continue to expect a
reduction to net debt by year-end, as cost savings and working
capital initiatives implemented in the first half generate
improvements in free cash flow during the second half of the
year.
Mark Carlisle, CEO of Aferian plc,
commented:
"We are encouraged by the strong
performance in the second half of the year, with increased sales
orders and new business wins across the Group. Combined with our
cost reduction efforts and improved cash flow, we are
well-positioned to close the year on a positive note and drive
sustained growth into the future."
Aferian will provide a further
trading update for the full financial year to 30 November 2024 in
early December 2024.
For
further information please contact:
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Aferian plc
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+44 (0)1954 234100
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Mark Carlisle, Chief Executive
Officer
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Investec plc (NOMAD and Broker)
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+44 (0)20 7597 5970
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David Anderson / Patrick Robb / Nick
Prowting
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About Aferian plc
Aferian plc (AIM: AFRN) is a
B2B video streaming solutions company. Our end-to-end solutions
bring live and on-demand video to every kind of screen. We create
the forward-thinking solutions that our customers need to drive
subscriber engagement, audience satisfaction, and revenue
growth.
It is our belief that successful
media companies and services will be those that are most
consumer-centric, data driven and flexible to change. We focus on
innovating technologies that enable our customers stay ahead of
evolving viewer demand by providing smarter, more cost-effective
ways of delivering end-to-end modern TV and video experiences to
consumers. By anticipating technological and behavioural audience
trends, our software solutions empower our customers to heighten
viewer enjoyment, drive growth in audience share and ultimately
their profitability.
Aferian plc is traded on the London
Stock Exchange's AIM stock market (AIM: symbol AFRN). Headquartered
in Cambridge, UK, the Company operates across the USA, Europe and
Asia. For more information, please
visit www.aferian.com.
