Matomy Media Group Ltd Trading Update and Preliminary Interim Results (6839K)

TIDMMTMY

RNS Number : 6839K

Matomy Media Group Ltd

11 July 2017

Trading Update and Preliminary Interim Results

Matomy's H1 Adjusted EBITDA* Grew Considerably

Group Adjusted EBITDA and revenue for the first half-year expected to have increased by approximately 60% and 15%, respectively, outperforming expectations

Global media company Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA), is pleased to announce its preliminary, unaudited consolidated Group results for the first half of 2017. Adjusted EBITDA for the first half-year is expected to be in the range of $9.0-9.5 million, and revenues for the first half-year to be in the range of $140-144 million.

Main business and operating highlights for H1

   --    Adjusted EBITDA increased by approximately 60% (H1 2016: $5.7 million); 
   --    revenues increased approximately 15% (H1 2016: $124 million); 

-- increased focus on programmatic mobile advertising and domain monetization business activities;

   --    continued efforts to raise Matomy's programmatic in-app video market share and revenues; and 
   --    reduction in capitalization expenses is improving period-on-period EBITDA growth. 

Matomy expects to see most of the benefits from its new strategic focus and sale of non-core businesses in the second half of 2017 through 2018. On a pro forma basis (i.e., without the contribution and costs related to the non-core businesses Matomy recently exited), Matomy's core businesses would have shown an even higher increase in Adjusted EBITDA for the first half of 2017 in comparison to the prior comparative period.

Matomy CEO Sagi Niri commented, "We are pleased to see that our decisive strategic actions over the past 18 months are beginning to flow through to stronger financial performance, with expected growth in EBITDA for FY17. As we continue to execute our plans, and especially our recent significant strategic changes, we remain confident for our performance during the rest of the year."

Matomy Chairman and Co-Founder of the Viola Group Harel Beit-On said, "We are delighted that Matomy is able to report such positive news for the first half-year. We are pleased with the success of our focus and strategic decisions, and remain optimistic about Matomy's full-year performance."

The data presented in this first-half 2017 flash report are unaudited and should not be treated as final. The term "Group" in this flash report refers to the figures of Matomy and its consolidated affiliates in accordance with US GAAP.

*Adjusted EBITDA

Adjusted EBITDA is a non-GAAP financial measure that Matomy defines as net income before taxes on income, financial expenses (income), net, equity losses of affiliated companies, net, depreciation and amortization, share-based compensation expenses and exceptional items. Adjusted EBITDA is a key measure Matomy uses to understand and evaluate its core operating performance and trends, to prepare and approve its annual budget, to develop short- and long-term operating plans and to determine bonus payments to management. In particular, Matomy believes that by excluding share-based compensation expenses, adjusted EBITDA provides a useful measure for period-to-period comparisons of Matomy's core business.

Forward-looking statements

Certain statements in this report are forward-looking. Although the Group believes that the expectations reflected in these forward-looking statements are reasonable, we can give no assurance that these expectations will be fulfilled. Because these statements contain risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements.

About Matomy:

Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) Matomy is a global media company with a portfolio of superior data-driven platforms for mobile, video, domain and email advertising. By providing customized performance and programmatic solutions supported by internal media capabilities, big data analytics, and optimization technology, Matomy empowers advertising and media partners to meet their evolving growth-driven goals. Matomy's programmatic platforms include Mobfox for mobile, Optimatic for video, and the mobile, self-serve demand-side platform myDSP. Founded in 2007 with headquarters in Tel Aviv and 11 offices around the world, Matomy is dual-listed on the London and Tel Aviv Stock Exchanges. Learn more about Matomy at http://www.matomy.com.

The information contained within this announcement is deemed by Matomy to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014

Media Contact:

Justine Rosin

[e-mail]

UK: [phone] | USA: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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July 11, 2017 02:00 ET (06:00 GMT)