Trading Update
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Ingenta plc (AIM: ING), a leading software and services provider to the publishing and media industries, is pleased to provide the following trading update for the year ended 31 December 2023.
The Group expects to report the following headline figures:
| 2023 (subject to audit) | 2022 (audited) | % Change | |
|---|---|---|---|
| Revenue | £10.8m | £10.5m | 3% |
| Adjusted EBITDA | £2.2m | £2.0m | 10% |
| EBITDA | £2.0m | £1.6m | 25% |
| Profit before tax | £1.7m | £1.2m | 42% |
| Year-end cash balance | £2.7m | £2.4m | 13% |
| Earnings per share | 13.6 pence | 9.02 pence | 51% |
| Full year dividend | 4.1 pence | 3.45 pence | 16% |
In line with the previously stated intention to implement a progressive dividend policy, the Board intends to pay a final dividend of at least 2.6 pence (2022: 2.25 pence) per ordinary share for the 2023 financial year, subject to shareholder approval at the 2024 AGM.
Scott Winner, Chief Executive Officer, commented:
"2023 represents another year of revenue growth for the Group and encouragingly this has been generated from new customer wins on our Edify digital content distribution platform. New sales activity was weighted to the second half of the year but we successfully deployed 2 sites in the first half and commenced a further 4 in the second half of 2023. These multi-year deals accounted for approximately £0.5m of implementation revenues in 2023 and will drive our recurring revenue into 2024 and beyond.
Elsewhere in the business, I'm delighted to report the addition of 3 new customers onto our IP management platform. These deals are for music and media partners across the globe and add further momentum behind our expansion into adjacent vertical markets."
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