This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part
of
(“MediaZest”, the “Company”, or the “Group”)
Final Results
Financial Highlights:
Year ended 30 September 2025 FY25 FY24
£’000 £’000
Revenue 4,154 3,074
Gross Profit 2,346 1,595
Gross Margin 56% 52%
EBITDA1 331 14
Profit after tax/(Loss) 98 (214)
Earnings per share (pence)/(Loss) 0.0058 (0.0133)
Cash 99 64
1 EBITDA is defined as (Loss)/Profit before tax adding back finance costs, depreciation and amortization. See Accounting Policies for reconciliation from reported results to EBITDA.
Operational Highlights:
-- Delivered a strong last four months of FY25, with installations and roll
out programmes with long-standing clients within the year including:
#First Rate -significant new contract signed, providing digital currency board installations forFirst Rate's clients # Pets at Home –delivered solutions in multiple stores, including ongoing support and maintenance and content services # Lululemon Athletica -LED and audio solutions were provided for stores inBerlin ,Milan , and the newLondon flagship store inRegent Street # Arc'teryx - delivered LED solutions and digital community screens in six European Flagship stores -Chamonix ,Milan ,Stockholm ,Manchester , ParndorfAustria andBicester Village inOxfordshire . # Kia – work continued inIreland ,the Netherlands andSlovakia with digital signage solutions and associated ongoing support services delivered to additional dealerships in each territory # Hyundai - delivered digital signage solutions to support and promote EV ranges in dealerships within theUK # Duty Free – worked across the globe in multiple locations to support a large brand within these stores including digital signage solutions and local support hubs
-- Appointment of new Chairman, Keith Edelman , in June 2025
Post Year-End Highlights:
-- Successful restructuring of debt obligations, led by our new Chairman,
securing agreement from loan holders to write off £529,000 worth of
interest and leave a principal sum of £785,609 to repay over the next
six years
-- Raised gross proceeds of £215,000 with new and existing investors,
whilst bringing on Dr Graham Cooley as a new significant shareholder to
the Company
Notice of Investor Presentation
For further information please contact:
MediaZest Plc
www.mediazest.com
Geoff Robertson , Chief Executive Officer via Walbrook PR
SP Angel Corporate Finance LLP (Nomad) Tel: +44 (0)20 3470 0470
David Hignell / Adam Cowl Hybridan LLP (Corporate Broker) Tel: +44 (0)20 3764 2341
Claire Louise Noyce Oberon Capital (Corporate Broker) Tel: +44 (0)20 3179 5300
Nick Lovering / Adam Pollock
Walbrook PR (Media & Investor Relations) Tel: +44 (0)20 7933 8780 or
mediazest@walbrookpr.comPaul McManus / Lianne Applegarth Mob: +44 (0)7980 541 893 / +44 (0)7584
391 303 /
Alice Woodings
+44 (0)7407 804 654
About
MediaZest’s new AIM rule 26 investor site is now available to view on the Company website here: https://www.mediazest.com/about/investor-relations/
Chairman's Statement
for the Year Ended 30 September 2025
Introduction
The Board presents the consolidated audited results for the year ended
About
1. Retail - Major high street retail brands continue to transition to digital signage displays including window displays, self-service kiosks and large-scale displays, such as LED and videowalls.
2. Automotive - The role of technology in automotive showrooms has also evolved, with major automotive brands increasingly using audio-visual solutions on their sites.
3. Corporate Offices - Typical projects in this sector include hybrid meeting rooms, video conferencing technology and innovation centres.
During the last financial year, the Group worked with customers such as
Pets at Home, Lululemon Athletica, KIA, Hyundai,
Overview
The Board is delighted to report that the trading performance of the Group has improved significantly over the last year, as a result of new business wins in recent months and continued roll out programmes with existing clients. Recurring revenue streams grew strongly due to these wins.
Post year end, the Group significantly improved its balance sheet by successfully restructuring its debt obligations, securing agreement from loan holders to write off £529,000 worth of interest and leave a principal sum of £785,609 to repay over the next six years. This agreement is detailed below and includes cessation of interest charges on these principal amounts moving forwards.
Financial Review
The augmented FY25 trading performance reflects the roll out of key client projects during the year, including new business wins. Group revenues rose 35% to £4.154m (FY24: £3.074m).
At the beginning of the financial year, the Board targeted year-on-year revenue growth, alongside a return to net profitability and an increase in EBITDA profitability, and we are pleased to deliver against all these objectives.
We have also seen further growth in longer-term recurring revenue contracts, having concluded the financial year with a recurring annual run rate of approximately £1.2m, up from £0.9m as at
Year ended 30 September FY25 FY24 FY23 FY22 Revenues (£'000) 4,154 3,074 2,335 2,820
Group results for the year and Key Performance Indicators ("KPIs"):
-- Revenue for the year increased 35% to £4,154,000 (FY24: £3,074,000)
-- Gross profit increased 47% to £2,346,000 (up from FY24: £1,595,000)
-- Improving gross margin of 56% (FY24: 52%)
-- Administrative expenses excluding depreciation and amortisation
increased to £2,015,000 (FY24: £1,582,000)
-- EBITDA profit increased strongly to £331,000 (FY24: £14,000)
-- Profit After Tax improved to £98,000 (FY24: £214,000 Loss)
-- Basic and fully diluted earnings per share 0.0058 pence (FY24: 0.0133
pence loss per share)
-- Net assets of the Group were £689,000 (FY24: £591,000), with further
improvement post-year end following the debt restructuring detailed
below
-- Cash in hand at 30 September 2025 was £99,000 (FY24: £64,000)
Operational Review
FY25 was a strong year for the Company, with our best ever profit performance and multiple ongoing client engagements delivered and contracted into future years.
The last four months of FY25 were particularly fruitful across the client base, continuing installations and roll out programmes with long-standing clients including
Pets at Home,
The Group announced a significant new contract with
Throughout the year we continued to deliver solutions in multiple stores for
Pets at Home
, including ongoing support and maintenance and content services. LED and audio solutions were provided for
Lululemon Athletica
stores in
For
Arc'Teryx
we delivered LED solutions and digital community screens in six European Flagship stores -
Our work with
KIA
continued in
The Group also undertook work in Duty Free stores across much of the globe to support a large brand within these stores including digital signage solutions and local support hubs and installations using our partner network for those installs outside of EMEA.
In the corporate market, we deployed advance video conferencing solutions to a range of clients, including a refurbishment and refresh of the
New Chairman
In
Debt Restructure
Post year end, the Group has successfully restructured its debt obligations, having actively engaged with all its key debt holders (the "Debt Holders").
The Agreement, which was announced on
Fundraising
Post year end, an equity fundraising in
Outlook
The Board continues to believe that the outlook for the new financial year, which has already begun exceptionally strongly, is encouraging, building on the success of FY25.
Long-term project roll-outs with existing customers, notably
Our Dutch subsidiary continues to perform well and attract client interest, whilst we consistently seek new opportunities in
As previously stated, we believe that adding scale to the current operational business via potential M&A activity would unlock shareholder value. The Board therefore continues to evaluate potential acquisition targets that would further enhance the Group's business and be value accretive.
The Board remains confident in the outlook for the Group, and will target further year-on-year growth and increased profitability in FY26. The Group is targeting revenue for the year ending
Chairman
Consolidated Statement of Profit or Loss
for the Year Ended
2025 2024
CONTINUING OPERATIONS £'000 £'000
Revenue 4,154 3,074
Cost of sales (1,808) (1,479)
GROSS PROFIT 2,346 1,595
Administrative expenses (2,123) (1,655)
OPERATING PROFIT/(LOSS) 223 (60)
Finance costs (120) (151)
PROFIT/(LOSS) BEFORE INCOME TAX 103 (211)
Income tax (5) (3)
PROFIT/(LOSS) FOR THE YEAR 98 (214)
Profit/(loss) attributable to:
Owners of the parent 98 (214)
Earnings per share expressed
in pence per share:
Basic 0.0058 (0.0133)
Diluted 0.0058 (0.0133)
Consolidated Statement of Profit or Loss and Other Comprehensive Income for the Year Ended
2025 2024
£'000 £’000
PROFIT/(LOSS) FOR THE YEAR 98 (214)
OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 98 (214)
Total comprehensive income attributable to:
Owners of the parent 98 (214)
Consolidated Statement of Financial Position
2025 2024
ASSETS £'000 £'000
NON-CURRENT ASSETS
Goodwill 2,772 2,772
Owned
Intangible assets 9 -
Property, plant and equipment 90 56
Right-of-use
Property, plant and equipment 284 355
3,155 3,183
CURRENT ASSETS
Inventories 195 76
Trade and other receivables 1,641 649
Cash and cash equivalents 99 64
1,935 789
TOTAL ASSETS 5,090 3,972
EQUITY
SHAREHOLDERS' EQUITY
Called up share capital 3,686 3,686
Share premium 5,331 5,331
Share option reserve 146 146
Retained earnings (8,474) (8,572)
TOTAL EQUITY 689 591
LIABILITIES
NON-CURRENT LIABILITIES
Financial liabilities – borrowings and
lease liabilities 448 492
CURRENT LIABILITIES
Trade and other payables
2,670 1,412
Financial liabilities – borrowings and
lease liabilities 1,283 1,477
3,953 2,889
TOTAL LIABILITIES 4,401 3,381
TOTAL EQUITY AND LIABILITIES 5,090 3,972
Consolidated Statement of Changes in Equity for the Year Ended
Called up Share
share Retained Share option Total
capital earnings premium reserve equity
£'000 £'000 £'000 £'000 £'000
Balance at 1 October 2023 3,656 (8,358) 5,244 146 688
Changes in equity
Issue of share capital 30 - 87 - 117
Total comprehensive income - (214) - - (214)
Balance at 30 September 2024 3,686 (8,572) 5,331 146 591
Changes in equity
Total comprehensive income - 98 - - 98
Balance at 30 September 2025 3,686 (8,474) 5,331 146 689
Consolidated Statement of Cash Flows for the Year Ended
2025 2024
£'000 £'000
Cash flows from operating activities
Cash generated from operations 478 (108)
Net cash from operating activities 478 (108)
Cash flows from investing activities
Purchase of intangible fixed assets (10) -
Purchase of tangible fixed assets (70) (28)
Net cash (used in) investing activities (80) (28)
Cash flows from financing activities
Other loans receipt/(repayment) 30 13
Shareholder loan net (repayment)/receipt (79) 84
Bounce back loan (repayment) (10) (8)
Payment of lease liabilities (71) (7)
Proceeds of share issue - 120
Share issue costs - (3)
Invoice financing (repayment) (203) -
Interest paid (30) (39)
Net cash (used in)/from financing activities (363) 160
Increase in cash and cash equivalents 35 24
Cash and cash equivalents at beginning of year 64 40
Cash and cash equivalents at end of year 99 64
Notes to the Group Preliminary and Final Results Statement for the Year Ended
STATUTORY INFORMATION
ACCOUNTING POLICIES
Basis of preparation
The Group financial information set out in this Preliminary and Final Results Announcement does not constitute the Group's statutory financial statements for the years ended
The statutory accounts for the year ended
Alternative Performance Measure - EBITDA
This is defined as Profit/(Loss) before Tax, adjusted for finance costs, depreciation and amortisation. The company uses this as a valuable measurement of performance after administrative expenses are deducted, but before depreciation, amortisation, finance costs and tax are considered.
Operating profit/(loss)
This is defined as Profit before Tax, adjusted for finance cost.
These can be reconciled as follows:
2025 2024
2025 2024
£'000 £'000
Profit/(loss) on ordinary activities before taxation 103 (211)
Finance costs 120 151
Operating profit/(loss) 223 (60)
Administrative expenses – depreciation & amortisation 108 74
EBITDA 331 14
1. Going concern
The Group made a profit after tax of £98,000 and has net current liabilities of £2,018,000 at year end. The financial statements have been prepared on a going concern basis, which the Directors consider appropriate based on the following key judgment:
Critical judgment – basis for going concern
Management has concluded that the Group will continue to meet its liabilities as they fall due for at least 12 months from the date of approval of these financial statements. This assessment is based on contracted revenue, secured extensions of existing client projects, recurring income streams, and the impact of the debt restructuring and equity fundraising completed after the year end.
The Directors have considered financial projections covering the 12 - month period from the date of approval of the accounts, which incorporate:
1. revenue from contracts already won or contractually committed
2. the continuation of major roll - out projects with existing clients
3. recurring revenues that increased significantly during 2026.
Post year - end financing and debt restructuring
Following the year end, the balance sheet was significantly strengthened through both a restructuring of shareholder debt and an equity fundraising completed in
Management has engaged closely with key clients to understand their implementation plans for the coming year, particularly in relation to ongoing roll - outs and confirmed projects scheduled for delivery in the next 12 months.
Having reviewed the forecasts and the associated risks and sensitivities, the Directors are satisfied that the Group has adequate financial resources to continue operating for the foreseeable future. Accordingly, the financial statements are prepared on a going concern basis.
The financial statements do not include any adjustments that would arise if the going concern basis were inappropriate.
1. Segmental reporting
Revenue for the year can be analysed by customer location as follows:
2025 2024
£'000 £'000
UK and Channel Islands 3,127 2,652
Rest of Europe 784 422
Rest of World 243 -
4,154 3,074
An analysis of revenue by type is shown below:
2025 2024
£'000 £'000
Hardware and installation 2,933 2,529
Support and maintenance - recurring revenue 1,221 453
Other services (including software solutions) - 92
4,154 3,074
Analysis of revenue recognition
2025 2024
£'000 £'000
Recognised at a point in time 2,933 2,573
Recognised over time 1,221 501
4,154 3,074
Analysis of future obligations:
2025 2024
£'000 £'000
Performance obligations to be satisfied in the next year 1,774 402
Performance obligations to be satisfied in later years - -
1,774 402
Segmental information and results
The Chief Operating Decision Maker ('CODM'), who is responsible for the allocation of resources and assessing performance of the operating segments, has been identified as the Board. IFRS 8 requires operating segments to be identified on the basis of internal reports that are regularly reviewed by the Board. The Board have reviewed segmental information and concluded that there is only one operating segment.
The Group does not rely on any individual client, however there are three clients who have contributed over 10% of total revenue. The following revenues arose from sales to the Group's largest client, which account for 20% of overall revenue:
2025 2024
£'000 £'000
Goods and services 514 503
Service and maintenance 348 168
862 671
1. EARNINGS PER SHARE
2025 2024
Profit/(loss) £'000 £'000
Profit/(loss) for the purposes of basic and diluted earnings per
share being net loss attributable to equity shareholders 98 (214)
2025 2024
Number of shares Number Number
Weighted average number of ordinary shares for the
purposes of basic earnings per share 1,696,425,774 1,615,055,911
Number of dilutive shares under option or warrant - -
2025 2024
Weighted average number of ordinary shares for the 1,696,425,774 1,615,055,911
purposes of dilutive loss per share
Basic earnings per share is calculated by dividing the profit after tax attributed to ordinary shareholders of £98,000 (2024 loss: £214,000) by the weighted average number of shares during the year of 1,696,425,774 (2024: 1,615,055,911).
The diluted profit per share is identical to that used for basic profit per share as the options are "out of the money" and therefore anti-dilutive.
4. RECONCILIATION OF PROFIT/(LOSS) BEFORE INCOME TAX TO CASH GENERATED FROM OPERATIONS
Group
2025 2024
£'000 £'000
Profit/(loss) before income tax 103 (211)
Depreciation charges 108 74
Tax on ordinary activities - (3)
Finance costs 120 151
(Increase)/decrease in inventories 331 11
Increase in trade and other receivables (119) 21
Increase in trade and other payables (992) (244)
1,258 104
Cash generated from operations 478 (108)
5. CASH AND CASH EQUIVALENTS
2025 2024
£'000 £'000
Cash in hand 99 64
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