AFRN Aferian Plc

AFERIAN PLC

("Aferian", the "Company" or the "Group")

Strong H2 trading

Aferian plc (LSE AIM: AFRN), the B2B video streaming solutions company, provides the following trading update for the year to 30 November 2024.

The Group has continued to win new business and has received increased sales orders in the second half of the year. In line with the Group's strategy, the key driver for this is the continued demand for improvements to the video streaming experience for consumers across multiple markets.

·      Strong H2 revenue growth - as a result, revenue in the second half of the year is expected to be approximately 20% higher than in the first half.

·      Positive adjusted EBITDA in H2 - revenue growth in H2 plus cost reduction actions taken earlier in the year means that adjusted EBITDA for the second half is expected to be approximately $2 million.

·      Net debt reduction - continue to expect a reduction to net debt by year-end, as cost savings and working capital initiatives implemented in the first half generate improvements in free cash flow during the second half of the year.

Mark Carlisle, CEO of Aferian plc, commented:

"We are encouraged by the strong performance in the second half of the year, with increased sales orders and new business wins across the Group. Combined with our cost reduction efforts and improved cash flow, we are well-positioned to close the year on a positive note and drive sustained growth into the future."

Aferian will provide a further trading update for the full financial year to 30 November 2024 in early December 2024.

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About Aferian plc 

Aferian plc (AIM: AFRN) is a B2B video streaming solutions company. Our end-to-end solutions bring live and on-demand video to every kind of screen. We create the forward-thinking solutions that our customers need to drive subscriber engagement, audience satisfaction, and revenue growth.

It is our belief that successful media companies and services will be those that are most consumer-centric, data driven and flexible to change. We focus on innovating technologies that enable our customers stay ahead of evolving viewer demand by providing smarter, more cost-effective ways of delivering end-to-end modern TV and video experiences to consumers. By anticipating technological and behavioural audience trends, our software solutions empower our customers to heighten viewer enjoyment, drive growth in audience share and ultimately their profitability.

Aferian plc is traded on the London Stock Exchange's AIM stock market (AIM: symbol AFRN). Headquartered in Cambridge, UK, the Company operates across the USA, Europe and Asia. For more information, please visit www.aferian.com.