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Amino Technologies to provide a live presentation on Thursday, 13th August

Amino Technologies plc (LON:AMO), has today announced that management will provide a live presentation relating to the Interim results for the six months ended 31st May 2020 via the Investor Meet Company platform on Thursday, 13th August at 4.30pm.

The Company is committed to ensuring that there are appropriate communication structures for all elements of its shareholder base so that its strategy, business model and performance are clearly understood.

·     The online presentation is open to all existing and potential shareholders. 
·     Questions can be submitted pre-event via your IMC dashboard or at any time during the live presentation via the “Ask a Question” function. Although the Company may not be in a position to answer every question it receives, it will address the most prominent within the confines of information already disclosed to the market. Responses to the Q&A from the live presentation will be published at the earliest opportunity on the Investor Meet Company platform. 
·     Investor feedback can also be submitted directly to management post-event to ensure the Company can understand the views of all elements of its shareholder base. 

Investors can sign up to Investor Meet Company for free and add to meet Amino Technologies plc via:

https://www.investormeetcompany.com/amino-technologies-plc/register-investor

Investors who have already registered and added to meet the Company will be automatically invited.

Amino Technologies is a new breed of Media Tech business, focused on enabling operators to meet the challenge of the rapidly converging worlds of broadcast and next-generation streaming services. We believe the operators that will succeed will be those that allow consumers to control how, when and where they “watch TV” and consume video. The smart operator will enable each consumer to define what TV means to them.

It is our mission to anticipate the technological and consumer behavioural trends so that we can keep on creating the solutions that enable operators and media companies to drive growth in engagement and profitability while embracing the inevitable disruption to the video market. The Group meets these challenges through combining its award-winning IP/cloud platforms and deep deployment expertise to create solutions that enable our customers to design and deliver innovative and profitable next-generation video experiences.

Financial summary

   
$m unless otherwise stated H1 2020H1 2019Change
Revenue 38.034.610%
Adjusted gross profit (1) 19.015.424%
Adjusted gross profit margin (%) 50.1%44.5%6pp
Adjusted operating profit 4.24.7(11%)
Adjusted profit before tax (1) 3.94.7(17%)
Adjusted basic earnings per share (US cents)(1) 4.88c6.12c(21%)
Statutory gross profit 19.215.920%
Statutory operating profit 0.72.1(68%)
Statutory profit before tax 0.52.2(79%)
Statutory basic earnings per share (US cents) 0.92c2.94c(69%)
Net cash 2.119.3 
Interim dividend per share (GBP pence) 1.68p 
      

Strategic and operational highlights

Transformation to software-led strategy leading to improved quality of earnings
Strong platform to capitalise on changing market dynamics
o  Well diversified business: TV Solutions (Amino) and streaming / online video (24i)o  Accelerated use of streaming services globally
Continuing to win new business (particularly OTT streaming) with new and existing customers
Managing the impact of Covid-19
o  Health and well-being of people and customers top priorityo  Supply chain disruption minimised by close collaboration with customers and supplierso  Factory capacity at manufacturing partners back to pre-Covid-19 levels
Amino device business continues to generate cash
Investment in product development for long-term profitable growth
o  24i: end-to-end platform deployment in the Netherlandso  SmartVideo: first deployment outside EMEAo  AminoOS: Android TV device deployments; Amazon Prime certification; and Disney+

Financial highlights

Revenues up 10%, reflecting focus on software-led strategy
o  Software and services revenues now account for 26% group revenues (H119: 10%)o  Recurring revenues doubled to c.$10m
Adjusted operating profit decreased by 11%, as expected, as a result of ongoing investment into 24i next generation platform and delays to some customer orders due to Covid-19 lockdown conditions
Adjusted cash flow from operations was $4.8m (H1 2019: $8.1m) reflecting the impact on working capital from the mix of orders from customers with longer payment terms than at the end of FY 2019
Managing liquidity carefully: $4.3m gross cash; $13m undrawn credit facilities
Well diversified business continues to deliver strong margins

Current trading and outlook

Visibility of orders and sales pipeline support management’s FY20 revenue expectations
However, it is possible that new business wins in H2 2020 may be impacted by any further negative Covid-19 impacts on the global economy and potential knock on impact for our customers and our supply chain

Karen Bach, Non-Executive Chairman, said:

“Amino has a clear strategy: in the long term, to focus on software-led business, and in the near term, to place the needs and wellbeing of customers and employees above all else.  This has supported a resilient performance during Covid-19, with significant growth in software-led and recurring revenues, and an excellent improvement in gross margins given the macro backdrop.

Our goal is to provide our operator, broadcast and media customers with enabling technologies that fulfil and anticipate consumer-led expectations and requirements. The Board is confident that Amino has the right foundation to meet its goals, and expect to make further progress in the second half of the year.”

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