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Highlights
- Return to Growth: MediaZest achieved positive EBITDA and improved cash flow in FY24, driven by a robust Q4.
- Recurring Revenue Surge: Annual recurring revenue grew to £0.9m, up from £0.7m in 2023.
- Expanding European Presence: Strong revenue growth from the Dutch subsidiary, led by automotive client demand.
MediaZest plc (LSE:MDZ), a leading provider of creative audio-visual solutions, has announced its audited results for the year ended 30 September 2024 (FY24), showing a return to year-on-year growth, positive EBITDA, and an improved cash position following a strong Q4 performance.
The company’s outlook for FY25 is optimistic, with a healthy forward order book and increased visibility into future revenue streams. The Board expects further financial improvements in the coming year as MediaZest continues expanding its reach and strengthening client relationships.
Operational Success and Key Projects
In FY24, MediaZest capitalized on strong client demand and long-term contracts:
- Digital Signage Rollouts: Major clients continued expanding installations across multiple locations, boosting revenue.
- Recurring Revenue Growth: Annual recurring revenue increased to approximately £0.9m, up from £0.7m in FY23.
- European Expansion: The Dutch subsidiary delivered significant revenue growth, especially in the automotive sector.
Key projects included:
- Pets at Home: Digital signage solutions now installed in 100+ UK stores.
- Lululemon Athletica: New store installations in Oslo, Stockholm, and Berlin, alongside UK projects.
- Kia & Hyundai: Continued showroom AV rollouts and maintenance across the Netherlands, Ireland, and Slovakia.
- First Rate Exchange Services: A successful “proof of concept” project for digital currency boards in UK post offices.
Positive Momentum Into FY25
With a strong Q4 performance, expanding recurring revenue streams, and growing demand in key sectors like retail and automotive, MediaZest enters FY25 in a strengthened position. The company’s ability to deliver high-quality AV solutions across Europe while cultivating long-term client relationships is expected to drive continued growth and profitability.
The Board remains confident in the company’s future prospects and anticipates further improvements in financial performance throughout 2025, as MediaZest leverages its momentum and capitalizes on emerging opportunities in the digital AV market.
