Tremor International Ltd (AIM: TRMR), a global leader in video advertising technologies, provides an update on trading for the year ended 31 December 2020.
The Company's record revenue and profit growth in the second half of 2020 continued through to the year-end, with trading in the month of December at a record high and materially exceeding the Company's expectations. Therefore, Tremor expects trading for the year ended 31 December 2020 to be ahead of the ranges outlined in its most recent trading statement on 30 November. These were revenues, net revenue* and Adjusted EBITDA in the ranges of $390-400 million, $171-175 million and $50-52 million respectively.
Tremor now expects to report revenues of $404-408 million, net revenues of $179-181 million and Adjusted EBITDA of $58-60 million for the year ended 31 December 2020. In addition, the Company had net cash at 31 December 2020 of c. $96 million (30 June 2020: $78 million).
This trading performance demonstrates a 72% growth in revenues for Q4 2020 compared to Q4 2019 and 50% growth in the second half of 2020, compared to H2 2019, underpinned by traction across Tremor's key growth drivers, the performance of which is summarised in the following table.
The board and management of Tremor believe that the growth demonstrated in the second half of 2020 is set to continue through 2021, despite the ongoing uncertainty and impacts relating to the COVID-19 pandemic. It is clear that Tremor's strategy to focus on video, data and Connected TV - which is complemented by its end-to-end technology platform and broadened geographic footprint - is coming into fruition. The business is now fully integrated and set to deliver sustained growth.