Fonix Mobile PLC – FNX – Interim Results

Fonix Mobile PLC – FNX – Interim Results

Fonix, the UK focused mobile payments and messaging company, is pleased to announce its interim results for the six months to 31 December 2020, which show continued strong revenue and profit growth across all business segments.

Financial highlights

●    Revenue of £24.6m up by 25% (H1 2019: £19.7m).

●    Gross profit of £5.8m up by 22% (H1 2019: £4.8m).

●    Adjusted EBITDA[1] of £4.6m up by 28% (H1 2019: £3.6m).

●    Profit after tax of £2.7m (H1 2019: £2.8m).

●    Adjusted basic and diluted earnings per share for the period[2] of 3.6p (H1 2019: 2.9p).

●    Underlying operating cash inflow[3] for the period of £3.6m (H1 2019: £3.1m).

●    Underlying cash and cash equivalents at the period end of £3.6m (30 June 2020: £2.3m)[4].

●    Maiden interim dividend of 1.7p per share, amounting to £1.7m, to be paid in March 2021.

All financials are based on unaudited numbers.

Operational highlights

●   Fonix's three business segments of payments, messaging and managed services have each grown during the period, in line with expectations.

●   Fonix has continued to attract new customers during the period across the media, charity, gaming and digital services sectors and retains a robust pipeline of prospects, with over 20 customers added and no customers lost in the period.

●   A highlight of the period was the successful BBC Children in Need campaign in November which raised £13.9m in donations using our platform. The event was also the first in the UK where a £40 single donation was permitted by the mobile network operators.

Outlook

●   Fonix expects continued growth through 2021 from both existing clients and a strong pipeline of new business opportunities.

●   Despite the difficulties of the pandemic the business continues to operate remotely with no adverse effect on operational or technical planning.

●   The technical delivery team continues to focus efforts in a dual stream of platform resilience and performance combined with innovation and feature development. This ensures the business maintains the operational requirements to deliver some of the most high profile interactive campaigns and services in the UK as well as continuous cycles of feature development to enable revenue growth.

Rob Weisz, CEO, commented: "This has been an exciting period for Fonix with the IPO raising our profile, benefiting shareholders, partners and staff. We remain confident, through both our existing clients and pipeline of new clients, in the future success and growth of Fonix."

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