PERFORM GROUP OUTPERFORMS
29th February, 2012 at 09:02:45
Well placed for a bumper year ahead
Sports digital media company Perform Group Plc has presented a strong set of full year results for the twelve months ending December 31, 2011 showing an impressive 53% revenue growth and indicating strong momentum for the year ahead driven by new customers that include Premiership Rugby, Al Jazeera Sport and the Norwegian Professional Football League.
Group key performance indicators include:
- Revenue of £ 103.2 million (2010: £ 67.4 million), an increase of 53 percent.
- *Adjusted EBITDA of £ 18.47million (2010: £ 10.35 million), up 79 percent
- *Adjusted Profit after tax amounted to £ 14.7 million (2010: £ 10.1 million), up 45 percent
- Profit after tax of £ 3.7 million (2010: £ 9.4 million), down 61 percent
* Adjusted exclude exceptional costs associated with IPO, acquisitions, share based payments, joint venture profits and amortisation of acquisition intangibles.
- Watch&Bet licencees increased by 12% from 23 to 35
- ePlayer territories increased from 13 to 20
- ePlayer total video on demand streams viewed is up 240% from 1.1 million to 3.6 million
- ePlayer average monthly unique users up by 220 percent
- Video and data subscribers grew 126% to 375 000 (2010: 249 000), with SMS and data subscriptions being the principal driver.
- Subscription revenues increased by 19% to £ 9.5m (2010: £ 8.0 million), primarily attributed to the launch of LIVESPORT.tv channels and subscriber growth to the Group's own and client branded products, helped by the launch of new mobile and tablet services for Goal.com and clients such as FoxSoccer.tv and Tennistv.com.
- ePlayer reached no 1 in comScore rankings in UK, France, Turkey and Italy. Was placed 2nd in Spain and the US and 3rd in Germany.
The company will continue on its future growth and expansion strategy following its acquisitions of Goal.com, Spox media GmBH and mediasports Digital GmBH in the German market and WatchandTrade Ltd, Global Sports Media B.V. and an additional 11% interest bringing to 88% in Sportal Australia Pty Ltd (see previous reports).
Seventy% of the group's revenues are now generated from outside of the United Kingdom and PERFORM reports a strong start to its 2012 fiscal year with £ 90 million already contracted.
Oliver Slipper, joint chief executive officer of Perform Group plc commented:
These results highlight the strong operational and financial performance we have delivered since coming to market. We've reported substantial increases in revenues and earnings whilst significantly expanding our rights portfolio, licensees, video streams and subscriber numbers.
The opportunities for long-term sustainable growth are significant. The exciting developments in mobile and connected technology, innovation in digital sports rights and international expansion offer ever greater prospects. We will continue to augment this with strategic acquisitions, consolidating our position as the world's leading digital sports business.
We remain confident that we will deliver strong full year revenue and EBITDA growth in line with the Board's expectations.
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