7th Jun 2022 13:39
(Alliance News) - Videndum PLC on Tuesday outlined plans to grow revenue by over 50% and double its profit by 2025.
The Richmond, west London-based firm on Tuesday said it is "uniquely positioned right at the heart of the growing content creation market". The hardware and software provider for content creation is holding a capital markets day on Tuesday.
Videndum said it has an "ambition" to generate annual revenue of around GBP600 million and adjusted operating profit of over GBP100 million on an organic basis by 2025.
For 2021, back when it was named Vitec Group, it reported an adjusted operating profit of GBP46.2 million, on revenue of GBP394.3 million. Therefore it is working towards more than doubling profit and growing revenue by 52%.
Videndum noted its target market has grown since the emergence of the pandemic. In 2021, its market total addressable market in 2021 was GBP3 billion, up from GBP2 billion pre-pandemic. By 2025, it expects its TAM to be worth GBP4 billion.
Videndum also eyes improving margins through "operational excellence", and drew attention to its "strong M&A track record and clear capital allocation strategy".
"The group has transformed in the last ten years and is now uniquely positioned right at the heart of the growing content creation market. A product-driven business, Videndum's purpose is to help our customers capture and share exceptional content. We have leading, premium brands in a number of niche market segments," the company said.
Videndum shares were 4.4% higher at 1,365.44 pence each in London on Tuesday afternoon.
By Eric Cunha; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Videndum Plc