ME Group International PLC Trading Update (2196G)
14 Novembro 2022 - 4:00AM
UK Regulatory
TIDMMEGP
RNS Number : 2196G
ME Group International PLC
14 November 2022
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 as
amended by regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310.Upon the publication of this announcement,
this inside information is now considered to be in the public
domain.
14 November 2022
ME Group International plc
("ME Group" or "the Group")
Trading Update
Continued positive trading momentum, with upgraded FY22
outlook
ME Group International plc (MEGP.L), the instant-service
equipment group, announces an update on the Group's trading for the
financial year ended 31 October 2022 ("FY22").
Trading Update
The Group's first-half performance was ahead of the Board's
expectations, with a strong recovery seen across Continental
Europe. This positive trading momentum continued throughout the
second half, with stronger consumer demand for all the Group's
services. Trading with the Asian market continued to remain more
subdued due to pandemic restrictions remaining in place for longer
than in the Group's other operating regions.
As a consequence of the trading momentum, the Board now expects
its FY22 financial performance to be ahead of its previously
revised expectations. Revenue is now expected to approximately be
between GBP256 million and GBP262 million (previously management
expectations were GBP257 million). EBITDA is expected to be between
GBP82 million and GBP85 million (previously GBP79 million to GBP84
million). Adjusted profit before tax (before exceptional items) is
expected to be in the range of GBP52 million to GBP54 million
(previously GBP47 million and GBP50 million).
Financial Position
At 31 October 2022, the Group continues to be highly cash
generative, with a strong net cash position of approximately
GBP38.2 million. This is net of dividends paid during the year to
date which amounted to GBP25.7 million.
Preliminary results
The Group will publish its results for the financial year ended
31 October 2022 towards the end of February 2023.
ENQUIRIES
ME Group International plc +44 (0) 1372 453 399
Serge Crasnianski, CEO
Stéphane Gibon, CFO
Hudson Sandler +44 (0) 20 7796 4133
Wendy Baker / Nick Moore me-group@hudsonsandler.com
NOTES TO EDITORS
Me Group International plc (LSE: MEGP) operates, sells and
services a wide range of instant-service vending equipment,
primarily aimed at the consumer market.
The Group operates vending units across 20 countries and its
technological innovation is focused on four principal areas:
-- Photo.ME - Photobooths and integrated biometric identification solutions
-- Wash.ME - Unattended laundry services and launderettes
-- Print.ME - High-quality digital printing kiosks
-- Feed.ME - Vending equipment for the food service market
The Group entered the self-service fresh fruit juice equipment
market in April 2019, with the acquisition of Sempa, and the
acquisition of SGER (Resto'clock) in June 2021, a French Pizza
vending equipment company for the self-service food equipment
market. Feed.ME will become a key business area - alongside
photobooths and identification (Photo.ME), laundry (Wash.ME), and
printing kiosks (Print.ME) - and is a significant part of the
Group's future growth strategy.
In addition, the Group operates other vending equipment such as
children's rides, amusement machines, and business service
equipment.
Whilst the Group both sells and services this equipment, the
majority of units are owned, operated and maintained by ME Group
International plc. The Group pays the site owner a commission based
on turnover, which varies depending on the country, location and
type of the machine.
The Group has built long-term relationships with major site
owners and its equipment is generally sited in prime locations in
areas of high footfall such as supermarkets, shopping malls
(indoors and outdoors), public transport hubs, and administration
buildings (City Halls, Police etc.). Equipment is maintained and
serviced by an established network of 650 field engineers.
In August 2022, the Group changed its name from Photo-Me
International plc to ME Group International plc to better reflect
the Group's diversification focus and business strategy.
ME Group's shares have been listed on the London Stock Exchange
since 1962.
For further information: www.me-group.com .
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END
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