THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
22 March 2021
Tremor International Ltd
("Tremor" or the "Company")
Tremor International Ltd (AIM: TRMR), a global leader in video advertising technologies, provides an update on current trading.
The Company's performance during the first quarter of 2021, which historically is the lowest quarter by revenue in the year, is significantly ahead of the same period in 2020, predominantly pre-pandemic. This continued sustainable organic growth is a clear endorsement of Tremor's strategy, executed by the Company's end-to-end technology platform together with strong demand inflow. Therefore, the Company now expects trading for the year ending 31 December 2021 to be significantly ahead of management expectations.
Tremor expects to report net revenue* of $55 million to $60 million, an increase of 71%-87% (Q1 2020: $32.1 million), and Adjusted EBITDA of $25 million to $28 million an increase of 46-51 times, (Q1 2020: $0.5 million), in the first quarter of the financial year. Programmatic net revenues are expected to grow by 84%-95% in Q1 2020.
This positive momentum continues to be underpinned by the successful execution of the Company's strategy, which focuses on video and data, with Tremor's core solutions of Connected TV, Private Marketplaces and its self-serve platform continuing to achieve significant traction.
*Net Revenue = Gross Revenue less media cost.
For further information please contact:
Tremor International Ltd
Ofer Druker, Chief Executive Officer
Sagi Niri, Chief Financial Officer
via Vigo Communications
Jonny Franklin-Adams / James Thompson (Corporate Finance)
Tim Redfern / Dicky Chambers (ECM)
Tel: +44 20 7220 0500
Stifel Nicolaus Europe Limited
Tel: +44 20 7710 7600
Tel: +44 20 7390 0230
Tremor is a global leader in advertising technologies operating across three core capabilities - Video, Data and CTV. Our unique approach is centred on offering a full stack of end-to-end software solutions which provides the Company with a major competitive advantage within the video advertising ecosystem.
Tremor Video helps advertisers deliver impactful brand stories across all screens through the power of innovative video technology combined with advanced audience data and captivating creative content. Tremor Video is one of the largest and most innovative video advertising companies in North America and globally, with offerings in CTV, in-stream, out-stream and in-app.
The media side of Tremor, Unruly, drives real business outcomes in multiscreen advertising. Its highly ranked programmatic platform efficiently and effectively delivers performance, quality, and actionable data to demand and supply-focused clients and partners. Tremor has a meaningful number of direct integrations with publishers, unique demand relationships with the world's biggest advertisers and privileged access to News Corp inventory. Unruly connects to the world's largest DSPs and is compatible with most AdAge top 100 brands.
Tremor International Ltd is headquartered in Israel and maintains offices throughout the US and Canada, Europe, Asia-Pacific and Australia and is traded on the London Stock Exchange (AIM: TRMR).
No Offer or Solicitation
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. This press release shall not constitute an offer to purchase any securities or a solicitation of an offer to sell any securities, and is issued pursuant to Rule 135e under the Securities Act.
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by the Company at the time these statements were made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable at the time made, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal Act) 2018 ("UK MAR").