Deepverge PLC Trading Update (0065V)
05 Agosto 2022 - 3:00AM
UK Regulatory
TIDMDVRG
RNS Number : 0065V
Deepverge PLC
05 August 2022
5 August 2022
DeepVerge PLC
("DeepVerge" or "the Company" or "the Group")
Trading Update
H1 unaudited revenues grew 95% to GBP6.47m (2021 H1:
GBP3.32m)
Full year revenues, weighted to H2, expected to exceed
GBP18m
DeepVerge plc (AIM: DVRG), announces that t he Company's
unaudited revenues in H1 2022 grew by 95% to GBP6.47m (H1 2021:
GBP3.32m). Orders to August of GBP8.87m are booked for delivery in
H2 (H2 2021: GBP3.91m). The Board conservatively expects revenue to
be in excess of GBP18m for the full year to 31 December 2022 ,
which is below current market expectations, leading to a smaller
projected EBITDA figure, a modest reduction in gross margins and a
slight increase in overheads.
Group
-- H1 Group revenues up 95% to GBP6.47m (2021 H1: GBP3.32m)
-- Orders up 128% for delivery in H2 exceed GBP8.87m (2021: GBP3.91m)
-- Full year sales weighted to H2 are expected to exceed GBP18m (2021: GBP9.3m)
Modern Water
-- GBP6.5m of orders secured to end of July, up 116% in one month (June 30 2022 RNS: GBP3m)
-- In addition, multiple GBP1m+ installation bids remain outstanding for site installations
Labskin and Skin Trust Club
-- GBP1m+ Skin Trust Club sales in H1
-- 27,000 club members
-- 42.5% with skin conditions
-- 24 skin care clients joined the marketplace
-- 300+ products added to marketplace
-- 200+ products to be added shortly
-- 84,000+ visits to site per month and growing
-- 6% conversion rate to Skin Trust Club Membership
Recently, the Company has been remarkably successful in
converting its significant prospect pipeline into firm orders, for
delivery in 2022, as evidenced by GBP 6.5m worth of deals in China,
South Asia, India and Africa (RNS 30 June[i], 18 July[ii] and 1
August[iii]). However, there remains uncertainty as to whether the
conversion rate, over the next few months, of prospects into orders
for delivery this calendar year will meet previously expected
levels.
Gerard Brandon, CEO DeepVerge plc, commented:
"H1 2022 has been another exceptional fast growth period for
DeepVerge. Modern Water is in the right place at the right time, to
deal with the global water crisis. Also, Skin Trust Club has hit a
rich vein of consumer desire to take control by personalising the
skin care industry which can be seen by the rush of skin care
products being added to the Skin Trust Club marketplace, that only
began in Q1 this year.
Although full year 2022 revenues might be lower than previously
guided, sales and orders continue to rapidly expand across all
divisions in the current macroeconomic and geopolitical
environment. We have taken a prudent stance to guide the market on
year-end revenue and will provide further updates as
necessary."
+44 (0) 7340 055
DeepVerge plc Gerard Brandon, CEO 648
SPARK Advisory Partners Limited Neil Baldwin/Andrew +44 (0) 113 370
(Nominated Adviser) Emmott 8974
--------------------- -----------------
Turner Pope Investments (TPI) Andy Thacker/James +44 (0) 20 3657
Limited (Broker) Pope 0050
--------------------- -----------------
Market Abuse Regulation (MAR) Disclosure
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
About DeepVerge plc (www.deepverge.com)
DeepVerge is an environmental and life science group of
companies that develops and applies AI and IoT technology to
analytical instruments for the analysis and identification of
bacteria, virus and toxins; Utilising artificial intelligent data
analytics to scientifically prove the impact of skincare product
claims on skin.
[i]
https://polaris.brighterir.com/public/deepverge_plc/news/rns/story/xo15n1r
[ii]
https://polaris.brighterir.com/public/deepverge_plc/news/rns/story/wvjql0w
[iii]
https://polaris.brighterir.com/public/deepverge_plc/news/rns/story/wvjlmzw
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