10 February 2021
("Ingenta" or the "Group")
Ingenta plc (AIM: ING), a leading software and services provider to the publishing and media industry, provides the following trading update for the year ended 31 December 2020.
The Group expects to report revenue of approximately £10.1m (2019: £10.9m) and adjusted EBITDA of approximately £1.2m (2019: £1.3m). Closing year end cash balances were £2.3m (2019: £2.6m).
The Board confirms its intention to pay a dividend of at least 1.5 pence per ordinary share for the 2020 financial year, subject to shareholder approval at the 2021 AGM. Depending on the regulatory environment, the Group expects to announce its final results for the year ended 31 December 2020 in May 2021.
Scott Winner, Chief Executive Officer, commented:
"2020 has been a challenging year but I'm pleased with the resilience the Group has shown across all our products and services. Although sales activity has been hampered by general economic uncertainty, Ingenta has managed to confirm several new deals which will enhance recurring revenue over the coming years.
As announced in October 2020, within our Edify content platform, we secured 3 new customers, 2 of which also went live during the year thanks to our recently streamlined implementation methodology. The commercial and intellectual property product had another 3 customer go lives during 2020.
Encouragingly, our existing customers have also looked to strengthen their relationships with Ingenta and we were also delighted to announce a significant multiyear Vista as a Service hosting arrangement with a global publishing partner in October 2020. It is anticipated a similar offering will be attractive to other publishers as they look to concentrate on core activities rather than manage complex IT infrastructure requirements."
For further information contact:
+44 (0) 1865 397 800
Cenkos Securities plc
+44 (0) 20 7397 8900
Certain of the information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.