Final Results

7 March 2025

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

MediaZest Plc

(“MediaZest”, the “Company”, or the “Group”)

Final Results

32% increase in revenues and return to EBITDA profitability

MediaZest plc (AIM: MDZ), the creative audio-visual solutions provider, announces its consolidated audited results for the year ended 30 September 2024 (“FY24”), which showed a return to year-on-year growth, a return to positive EBITDA and an improved cash position following a strong Q4 trading performance.

Outlook for FY25 is positive with a strong forward order book and encouraging forward visibility into the new financial year. The Board expects to see further improvement in the Company’s financial performance in 2025.

Financial Highlights

1EBITDA is defined as (Loss)/Profit before tax adding back Finance costs, depreciation and amortisation

Operational Highlights

Geoff Robertson, Chief Executive Officer of MediaZest, commented: “We are delighted with MediaZest’s strong performance in the second half of the year, and the growing momentum we have brought into the new financial year. Our order book and overall forward visibility is encouraging and we look to continue this momentum throughout 2025.”

Notice of Investor Presentation

Geoff Robertson, Chief Executive Officer, will provide a live presentation in relation to the Company’s Final Results via the Investor Meet Company platform on Wednesday 19 March 2025 at 11am GMT. The presentation is open to all existing and potential shareholders. Investors can sign up to Investor Meet Company for free and register here: https://www.investormeetcompany.com/mediazest-plc/register-investor

For further information please contact:

About MediaZest (www.mediazest.com)

MediaZest is a creative audio-visual solutions provider that specialises in delivering innovative digital signage and audio systems to leading retailers, brand owners and corporations. The Group offers an integrated service from content creation and system design to installation, technical support, and maintenance. MediaZest was admitted to the London Stock Exchange's AIM in February 2005.

MediaZest’s new AIM rule 26 investor site is now available to view on the Company website here: https://www.mediazest.com/about/investor-relations/

MediaZest Plc

Chairman’s statement

The Board presents the consolidated audited results for the year ended 30 September 2024 for MediaZest plc ("MDZ" or the “Company”) and its wholly owned subsidiary companies MediaZest International Ltd ("MDZI") and MediaZest International BV ("MDZBV") which together constitute the "Group".

About MediaZest

MediaZest is a creative audio-visual solutions provider that specialises in delivering innovative digital signage and audio systems. The Group offers an integrated service from content creation and system design to installation, technical support, and maintenance and operates in three core sectors:

During the last financial year the Group worked with customers such as Pets at Home, Lululemon Athletica, KIA, Hyundai, First Rate Exchange Services, Wincanton, Harrods, Arc'Teryx and Castore.

Overview

The Board is delighted to report to shareholders that the trading performance of the Group has significantly improved over the last year. MediaZest has returned to year-on-year revenue growth, has delivered a return to profitability at the EBITDA level, and has made further improvement in the Company's overall cash position following a strong trading performance in 2024.

Financial Review

The improved FY24 trading performance, showing a 32% increase in revenues to £3.074m (FY23: £2.335m), reflects the resumption of key client projects in FY24, following a period of uncertainty within the macro-economic environment, which impacted decision making regarding quantum and the timing of the roll out of digital signage and audio systems in FY23.

At the beginning of the financial year, the Board targeted a return to year-on-year growth, alongside a return to EBITDA profitability, and we are pleased to deliver against these objectives.

We are particularly pleased to see further growth in longer-term recurring revenue contracts, having ended the financial year with a recurring annual run rate of approximately £0.9m, up from £0.7m as at September 2023.

Group results for the year and Key Performance Indicators ("KPIs")

Operational Review

FY24 saw strong client demand for our audio-visual solutions return across the three key sectors that MediaZest focusses on, namely Retail, Automotive, and Corporate Office spaces. A number of large-scale deployments had been delayed in FY23 and it was reassuring to see a number of well-known brands roll-out new digital signage displays across multiple locations during the financial year. Our long-term client base remains consistent, and we enter the new financial year with a greater degree of visibility on further roll-out programmes expected during 2025.

We continue to be encouraged by new project opportunities within our existing client base, as well as seeing incoming opportunities with new potential customers as a result of additional investment in our marketing activities.

As noted throughout the year. we have been particularly active delivering projects for a number of our key customers. In FY24 we saw the continued roll-out of digital signage solutions for Pets at Home, with our solutions now in place in over 100 stores across the UK. We also completed installation for Lululemon Athletica within the UK as well as in new stores in Oslo, Stockholm and Berlin. Both Hyundai and Kia are major clients within the automotive industry and we have installed new digital signage for the former across dealerships in the UK and with the latter in three territories across Europe.

Shortly after the end of the financial year, we announced the completion of a "proof of concept" project with First Rate Exchange Services ("FRES") whereby we installed digital currency boards across 50 UK Post Office locations. These boards offer customers daily live exchange rates, supporting marketing materials and offers relating to the Post Office's foreign currency exchange services.

Our European subsidiary in the Netherlands continues to deliver strong revenue growth driven by automotive customer demand and other projects.

Outlook

As a Board we continue to believe that the outlook for the new financial year is encouraging. We have returned to year-on-year revenue growth and we see this momentum continuing into FY25. We have good visibility on ongoing long-term project roll-outs with existing customers, with several confirmed substantial projects in the new financial year.

Going into 2025, recurring revenue streams have been robust with growth expected to continue in FY25.

Initial feedback from the "proof of concept" contract with FRES is that the project has been successful, demonstrating that digital currency boards are an effective alternative to the current static displays. We believe this could present a significant opportunity for MediaZest, given that FRES provides rate boards to approximately 1,500 Post Office branches and supplies currency exchange services to a range of clients including John Lewis, Hays Travel, and TUI.

We continue to seek new opportunities in Europe and our Dutch subsidiary continues to perform well and attract client interest.

As previously stated, we believe that adding scale to the current operational business via potential M&A activity would unlock shareholder value. The Board therefore continues to evaluate potential acquisition targets that would further enhance the Group's business.

The Board remains confident in the outlook for the business, and we will target further year-on-year growth and a return to profitability at the pre-tax level in FY25, having already recorded a positive EBITDA performance in FY24.

The new financial year has started well and we remain very positive about the Group's future.

Lance O'NeillChairman6 March 2025

Consolidated Statement of Profit or Loss

for the Year Ended 30 September 2024

Consolidated Statement of Profit or Loss and Other Comprehensive Income

for the Year Ended 30 September 2024

Consolidated Statement of Financial Position

30 September 2024

Consolidated Statement of Changes in Equity

for the Year Ended 30 September 2024

Consolidated Statement of Cash Flows

for the Year Ended 30 September 2023

Notes to the Consolidated Financial Statements

for the Year Ended 30 September 2024

The financial information set out in this announcement does not constitute statutory accounts as defined in section 435 of the Companies Act 2006.The financial information for the period ended 30 September 2023 is derived from the statutory accounts for that year which have been delivered to the Registrar of Companies.  The auditors reported on those accounts; their  report was (i) unqualified, (ii) did not contain a statement under section 498(2) or 498(3) of the Companies Act 2006 and (iii) drew attention by way of emphasis to a material uncertainty related to going concern.The statutory accounts for the year ended 30 September 2024 have not yet been delivered to the Registrar of Companies. The auditors reported on those accounts; their report was (i) unqualified, (ii) did not contain a statement under section 498(2) or 498(3) of the Companies Act 2006, and (iii) did not draw attention by way of emphasis to any matters. The 2024 accounts will be delivered to the Registrar of Companies following the Company's Annual General Meeting, details of which will be announced shortly.

The Group made a loss after tax of £214,000 and has net current liabilities of £2,100,000. The financial statements are prepared on a going concern basis which the Directors believe to be appropriate for the following reasons:

The Directors have considered financial projections based upon known future invoicing, existing contracts, the pipeline of new business and the increasing number of opportunities it is currently working on in 2025, the expected macroeconomic environment and prior year trading.

Several substantial new contracts have been won during the new financial year, ongoing roll out projects with existing clients continue apace, and recurring revenues have grown significantly in the second half of calendar year 2024.

Management has engaged with clients where possible to understand their plans for the coming year and the likely timing of those plans. Several have indicated substantial projects which they expect to work with the Company to deliver in the next 12 months, however as always, timing remains difficult to predict.

The Directors have received written confirmation from the holders of the shareholder loans that these liabilities will not be called within 12 months of signing these financial statements unless the company has sufficient cash resources with which to make such payments.

These forecasts indicate that the Company will generate sufficient cash resources to meet its liabilities as they fall due over the 12-month period from the date of the approval of the accounts. As a result the Directors consider that it is appropriate to draw up the accounts on a going concern basis. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

Revenue for the year can be analysed by customer location as follows:

Segmental information and results

The Chief Operating Decision Maker ('CODM'), who is responsible for the allocation of resources and assessing performance of the operating segments, has been identified as the Board. IFRS 8 requires operating segments to be identified on the basis of internal reports that are regularly reviewed by the Board. The Board have reviewed segmental information and concluded that there is only one operating segment.

The Group does not rely on any individual client, however there is one client who has contributed over 10% of total revenue. The following revenues arose from sales to the Group's largest client:

Basic earnings per share is calculated by dividing the loss after tax attributed to ordinary shareholders of £214,000 (2023 loss: £553,000) by the weighted average number of shares during the year of 1,615,055,911 (2023: 1,396,425,774).

The diluted loss per share is identical to that used for basic loss per share as the options are "out of the money" and therefore anti-dilutive.