Trading Update

RNS Number : 9533T

One Media iP Group PLC

30 November 2021

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

30 November 2021

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 audited full year ended 31 October 2021. These figures are unaudited.

Despite the world's general economic turbulence and the wider shifts in the music industry, the Company continues to trade in line with market expectations and expects to report revenues for year ending 31 October 2021 of circa £4.4m and EBITDA of £1.65m, an increase of 10% and 11% respectively on the prior year. One Media retains a healthy cash position with an unaudited cash balance of £2.6m and with £1.9m in structured debt as at 31 October 2021. Unfavourable foreign exchange rate movements have impacted the EBITDA vs the prior year.

The Company's full year results are expected to be released in March 2022.

Michael Infante, CEO of One Media iP, commented:  "Our cautious acquisition program and keeping to within the board's agreed range of multiples payable will serve the business well in the longer term. The music industry remains robust, in particular in the areas where One Media has been active. We have an ongoing pipeline of profitable and cash yielding opportunities where we would invest via the Harmony Ip initiative. We are confident of continued steady growth."

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This announcement contains inside information for the purposes of UK Market Abuse Regulation. 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	[phone] [phone]
Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray Jo Turner Ludovico Lazzaretti	[phone]
Cenkos Securities plc (Broker) Giles Balleny Max Gould Michael Johnson (Sales) Pete Flatt / PPR Publicity	[phone] [phone]

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 and TV whilst its video content is primarily viewed on YouTube where One Media operates over 20 YouTube channels as a certified partner. Additionally its www.tcat.media copyright infringement and digital music audit tool software TCAT, is used daily with major record labels and the world leading digital international distributor. Men & Motors its branded car channel is now available via YouTube www.youtube.com/channel/UCNLiybn_9jgQaV0NZlSRwCg

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.harmonyip.com/  

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.

 

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