TIDMZIN
RNS Number : 7986A
Zinc Media Group PLC
07 February 2022
7 February 2022
Zinc Media Group plc
("Zinc Media" or the "Company" or the "Group")
Trading Update and Capital Markets Day
Zinc Media Group plc (AIM: ZIN), the TV and multimedia content
producer, is pleased to announce an unaudited trading update and
news of a forthcoming Capital Markets Day.
Trading update
Financial highlights:
-- Group Adjusted EBITDA in H2 2021 expected to be in the region
of GBP0.5m, ahead of management's expectations.
-- The Group generated Free Cash Flow (FCF) in H2 2021.
-- Cash at 31 December 2021 of GBP5.6m (31 December 2020: GBP6.8m).
-- The Group has already booked GBP9m of revenue which is
expected to be delivered in 2022 (January 2021: GBP9m), with an
additional GBP6m of commissions in highly advanced discussions
(January 2021: GBP5m), with a significant proportion anticipated to
begin production in Q2 2022.
-- The Group expects to publish its audited full year results in April 2022.
Programme highlights in H2 2021 include:
-- The Group's largest ever TV series commission, for Channel 5; and
-- The Group's first ever Advertiser Funded Programme (AFP) for Sky; and
-- Two new live action productions for Red Bull and Lego; and
-- Five recommissions for returning series; and
-- The Group's first commercially funded podcast series; and
-- A significant client funded development for one of the
world's biggest SVoD ("subscription video on demand") platforms,
which has the potential to lead to a series commission.
The new financial year has started positively with new business
wins across the Group. Tern TV has won a new series for BBC2 and
BBC Scotland. This is the first commission for Tern's new Head of
Factual Entertainment. Zinc Communicate has started the year
strongly, with the publishing business booking at high levels and
the branded content business winning a recommission for a sponsored
podcast series. The London and Manchester television business has
won a new commission for the next Norma Percy led series for the
BBC.
There have been some minor delays to domestic and international
commissions in the last eight weeks owing to the Omicron Covid
variant, but the Group expects to get these productions back on
track by the end of Q1.
The Group continues to refresh its business winning talent
across both Television and Zinc Communicate and has also improved
its online presence with an updated Group website at
www.zincmedia.com .
Mark Browning, Chief Executive Officer, commented:
"Despite a slower trading environment at the end of 2021 due to
the Omicron variant, I am pleased with the Group's performance. We
expect to report a strong H2 level of Adjusted EDITDA and be cash
generative in the second half of the year. This is a significant
achievement for the Group, as it validates the effectiveness of our
transformation plan and our potential to deliver healthy profits
and cash as revenues recover to pre-pandemic levels. Our pipeline
of highly advanced business is encouraging, including our client
funded development for a major global SVoD which positions the
company well for the future. Our strong cash position means we will
continue to invest in new talent and technology as we build for the
long term."
Capital Markets Day
Zinc will be hosting a Capital Markets Day later this month. The
Group's CEO Mark Browning will present new television production
market research, commissioned exclusively by Zinc Media,
demonstrating the opportunity for television production growth in
both the UK and international market. He will also present some of
the Group's latest television programmes including a selection
which are currently in development.
There will also be an opportunity to meet Zinc's new Managing
Director of Television, Tanya Shaw, and speak to the Group's
Chairman Chris Satterthwaite, as well as tour the production
facilities. There are no plans to share further financial
information and the presentation will not be live streamed.
The details of the Capital Markets Day are as follows:
Date: Wednesday 2(nd) March 2022
Time: 12:30 - 14:30 (UK time)
Location: 17 Dominion Street, London, EC2M 2EF
Dress Code: Informal
We ask for all attendees to register by Friday 11 February by
responding to zach.cohen@investor-focus.co.uk. The number of
permitted attendees may be limited.
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 Advisers and Broker) +44 (0) 20 7496 3000
Mark Taylor / George Tzimas
IFC Advisory Ltd (Financial PR) +44 (0) 20 3934 6630
Graham Herring / Zach Cohen
About Zinc Media Group
Zinc Media Group plc is a leading television and content
creation group.
The award-winning and critically acclaimed television labels
comprise Blakeway, Brook Lapping, Films of Record, Red Sauce,
Supercollider and Tern Television and produce programmes across a
wide range of factual genres for UK and international channels.
Zinc Communicate specialises in developing cross-platform
content for brands, businesses and partners. For further
information on Zinc Media please visit www.zincmedia.com
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END
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