Zoo Digital Group PLC Trading Update (7257L)
04 Maggio 2020 - 8:00AM
UK Regulatory
TIDMZOO
RNS Number : 7257L
Zoo Digital Group PLC
04 May 2020
4 May 2020
ZOO DIGITAL GROUP PLC
("ZOO", the "Group" or the "Company")
Trading Update
ZOO Digital Group plc, a world-leading provider of cloud-based
localisation and digital distribution services to the global
entertainment industry, today provides a further update with
regards to its trading for the financial year ended 31 March
2020.
The Group reiterates guidance given in its update of 23 March
2020 with revenue expected to be approximately $30m and EBITDA of
not less than $2.2m. Cash collection has been much stronger than
forecast and cash at the year-end was $0.7m.
Trading in the first weeks of the 2021 financial year has been
encouraging and we have built a pipeline of new business. Following
the temporary softening of sales experienced as customers
implemented business continuity plans and halted production on new
originals titles, as outlined on 23 March 2020, the Group has since
experienced a reassuring resumption in demand.
This resumption is underpinned by the continued industry
requirement for localisation and digital packaging, particularly in
relation to back catalogues. The majority of the localisation
orders to date have been for subtitling, but we are seeing
increasing demand for ZOOdubs, the cloud-based platform that
enables traditional dubbing services including voiceover, lip-sync
and audio description. Through the use of ZOOdubs dubbing projects
can continue during periods of lockdown. As a result, a number of
initial trial projects from a range of clients, both existing and
new, are underway.
Stuart Green, Chief Executive, of ZOO Digital said:
"Our proprietary cloud-based solutions have been designed from
the outset to enhance the efficiency of collaboration as the film
and TV entertainment industry has become increasingly globalised.
The current environment has encouraged industry change and the
investments made in prior periods to scale our business mean we are
well placed to meet our customers' needs."
The information communicated in this announcement includes
inside information for the purposes of Article 7 Regulation
596/2014.
For further enquiries please contact:
ZOO Digital Group plc +44 (0) 114 241 3700
Stuart Green - Chief Executive Officer
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Phillip Blundell - Chief Finance Officer
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Stifel Nicolaus Europe Limited
Fred Walsh +44 (0) 20 7710 7600
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Alma PR
Josh Royston / Helena Bogle +44 (0) 7780 901979
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About ZOO Digital Group plc:
ZOO Digital is a provider of services allowing TV and movie
content to be subtitled and dubbed in any language and prepared for
sale with all major online retailers. ZOO's clients are some of the
best-known brands in the world including major Hollywood studios,
global broadcasters and independent distributors.
ZOO's point of difference in the marketplace is its development
and use of innovative cloud technology. This ensures that content
is localised in any language and delivered to all the major online
platforms such as Amazon, iTunes, Google and Hulu with reduced time
to market, higher quality and lower costs. ZOO's agile, cloud-based
business model enables clients to respond to market trends, scale
easily with business growth and capitalise on new routes to market
in the fast moving and evolving digital industry.
ZOO operates from the entertainment hubs of Los Angeles and
London with a development and production centre in Sheffield. Its
full-service proposition includes digital distribution, subtitling
& captioning, metadata creation & localisation, dubbing,
artwork localisation, workflow and asset management.
www.zoodigital.com
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END
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