Artilium PLC Trading Update (4433O)
February 09 2016 - 02:00AM
UK Regulatory
TIDMARTA
RNS Number : 4433O
Artilium PLC
09 February 2016
Artilium plc
("Artilium" or the "Company")
Trading Update
Artilium plc (AIM: ARTA), the AIM quoted provider of innovative
telecommunication software and solutions, provides the following
update on trading.
In the final results statement for the year ended 30 June 2015,
released on 29 October 2015, the Company stated that the investment
made in improving the fundamentals of the Group's performance,
together with the recent acquisitions, would form the basis of the
next phase of the business which would see growth in our customer
base and revenues from our software products. The Company still
believes that the positive impact from work already undertaken will
manifest itself but is disappointed to see that the impact has been
slower than expected to date in the year ended 30 June 2016.
A number of high margin projects for customers of Artilium have
been delayed which has impacted the Group's performance at both the
revenue and EBITDA levels. These projects are still expected to
complete and so their impact has been delayed rather than lost. In
conjunction with this, there have been delays to the start dates of
a number of United Telecom's new MVNOs. Again, these projects are
contracted and expected to complete in due course. The early stages
of MVNOs are lower margin than more established ones due to the
cost that has to be incurred in the early stages to secure
customers to the platform.
As a result of the delays in the implementation of a number of
projects the Company now expects to report revenue of approximately
EUR4.3 million and adjusted LBITDA of approximately EUR0.3 million
for the six months ended 31 December 2015. The directors are of the
opinion that these results will lead to year end revenues of
between EUR10 million and EUR11 million (2015: EUR7.7 million) and
expect adjusted EBITDA for the year ended 30 June 2016 to be
similar to the year ended 30 June 2015.
The Company expects to announce its half year results on 21
March 2016. The Company continues to explore further complimentary
acquisition opportunities.
Bart Weijermars, Artilium's CEO, said:
"While the pace of growth is somewhat slower than expected, the
Company is making steady progress and is pleased to see that the
order book is considerably stronger than this time last year. New
opportunities in the machine to machine ("M2M") market are being
developed from which we expect further growth going forward and we
are investing in additional platform capabilities to capture this
growing market. The Directors remain confident of the long term
prospects of the Company and look forward to updating the market
with respect to continued contract and revenue progress in due
course."
For further information please contact:
Artilium PLC +32 (0)50230300
Bart Weijermars - Chief Executive
Officer
finnCap Ltd
Jonny Franklin-Adams & Scott
Mathieson (corporate finance)
Joanna Scott (corporate broking) +44 20 7220 0500
About Artilium
Artilium is a demonstrated leader in the development of next
generation communication technologies. Artilium's strategy focuses
on supporting its customers to successfully grow their business by
providing flexible, cost effective and innovative solutions.
Artilium's innovation-driven strategy empowers telecom operators
around the globe to face the tremendous challenges ahead. We
combine next-generation technology with traditional telecom
environments to create exciting new business opportunities for our
customers. This ensures that our customers are able to keep up with
rapidly evolving market demands while simultaneously growing their
businesses.
ARTA(R) is the real-time Authentication, Authorization and
Accounting (AAA) software that brings a full suite of new
functionalities to telecom Operators and virtual Operators. Thanks
to ARTA(R) value-added services portfolio, including for instance
AAA of voice, text and data services, VoIP, 3G and 4G compliance,
mobile payments and location-based services, our partners are more
than ready to meet future customer needs.
Today, multiple renowned national and international
telecommunication companies rely on Artilium to deliver voice, text
and data services to about 1.5 million end users every day.
Artilium's "Pay-As-You-Grow" model allows us to scale our
solutions to the exact needs of our customers. As a latest
innovation, Artilium offers its product suite from the Cloud as a
PAAS (Platform As A Service), yielding ARTA's scalability,
flexibility and proven stability.
Artilium PLC is a publicly listed software company on the London
Stock Exchange (LSE/AIM: ARTA).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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