Digitalbox PLC FY2022 Trading Update and Notice of Results (4542M)
January 12 2023 - 1:00AM
UK Regulatory
TIDMDBOX
RNS Number : 4542M
Digitalbox PLC
12 January 2023
12 January 2023
Digitalbox plc
("Digitalbox" or the "Company")
FY2022 Trading Update and Notice of Results
Digitalbox plc (AIM: DBOX), the mobile-first digital media
business, which owns Entertainment Daily, The Daily Mash, The Tab
and The Poke, is pleased to provide the following trading update
ahead of the publication of its results for the twelve months to 31
December 2022. The Company expects to announce its results on 28
March 2023.
Despite the challenging conditions across the entire media
industry in Q4 2022 - traditionally the Company's most important
trading period - management action ensured the Company continued to
deliver very strong margins. As a result, Digitalbox expects
EBITDA* for the year ended 31 December 2022 to be comfortably ahead
of the GBP1m delivered in 2021 and broadly in line with the most
recent market guidance, despite the economic headwinds resulting in
revenue below market expectations. As at 31 December 2022, the
Company had more than GBP2.8m in gross cash.
James Carter, CEO, Digitalbox, said: "The end of 2022 was both
an exciting and turbulent period. We continued to deliver on our
strategy by acquiring The Poke and took on the challenge of
maximising profitability within a tightening economy. Our agile
approach to operating the business meant that we were pleased to
grow our margins and our EBITDA year on year.
"The Poke provides a major opportunity for expansion in future
years. After a pleasing start to life at Digitalbox, The Poke will
quickly benefit from being brought onto our Graphene platform as we
move into 2023. We are also finalising the acquisition of the
assets of TVGuide.co.uk, which we expect to be complete in the next
few months. We are conscious of the difficult economic conditions,
yet we are confident that our high-quality, popular brands will
remain strong and quickly benefit as economic conditions
improve."
*All EBITDA figures quoted are for Adjusted EBITDA, defined as
the profit from operations after deducting depreciation,
amortisation, share-based payments, acquisition and listing costs,
direct costs associated with business combinations and capital
restructure costs.
END
Market abuse regulation : This announcement contains inside
information for the purposes of Article 7 of Regulation (EU) No
596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR").
Enquiries:
Digitalbox c/o SEC Newgate
James Carter, CEO
Panmure Gordon Tel: 020 7886 2500
(Nominated Adviser, Financial Adviser & Joint
Broker )
Alina Vaskina / James Sinclair-Ford (Corporate
Advisory)
Rupert Dearden (Corporate Broking)
Leander Capital Partners (Joint Broker) Tel: 07786150915
Alex Davies
SEC Newgate (Financial Communications) Tel: 020 3757 6880
Robin Tozer / Molly Gretton / Harry Handyside digitalbox@secnewgate.co.uk
About Digitalbox plc
Based in Bath, UK, Digitalbox is a 'pure-play' digital media
business with the aim of profitable publishing at scale on mobile
platforms.
Digitalbox operates the following trading brands, "Entertainment
Daily", "The Daily Mash", "The Tab", and "The Poke". Entertainment
Daily produces and publishes online UK entertainment news covering
TV, showbiz and celebrity news. The Daily Mash produces and
publishes satirical news content. The Tab is the UK's biggest youth
culture site fuelled by students. The Poke expertly curates and
editorialises the funniest content from around the web and social
media.
Digitalbox generates revenue from the sale of advertising in and
around the content it publishes. The Group's optimisation for
mobile enables it to achieve revenues per session significantly
ahead of market norms for publishers on mobile.
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END
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