Photo-Me International plc reports 2021 revenue up nearly 20%
Photo-Me International plc reported full-year 2021 revenue was up 15.1% to £214.4 million (2020: £186.3 million), as the group benefited from the easing of COVID-19 restrictions compared with prior year. EBITDA increased by 57.2% to £65.1 million, compared to £41.4 million in 2020.
Among the highlights the company cited:
· Strong performance with a progressive recovery in demand for vending services seen across most key markets.
· Photo booth revenue up 15.2%, driven by a strong performance in France and Japan
· Revenue from Revolution laundry units was up 26.6%, and the total number of Revolution units in operation was up 19.1%
· Launch of ME Group, new corporate brand strategy to reflect the diversification of operations
“Despite the ongoing impact of COVID-19, our proven and resilient business model has enabled the group to make progress towards returning to its pre-pandemic performance, across all business areas including photo booth,” said Serge Crasnianski, CEO & Deputy Chairman. “This progress was underpinned by our market-leading position, our established and long-term partnerships which gives the Group good revenue visibility and year-on-year recurring revenue streams.
“Reported total revenue and profit before tax for the year were at the upper end of our expectations, having benefitted strongly from the recovery that followed the easing of restrictions across our key markets,” he added. “This performance is testament to the expertise and hard work of our teams around the world and their impressive skill and adaptability.
“Following the launch of our new corporate brand strategy, ME Group, we are looking forward to the next chapter of our growth as we enter our 60th year. Our growth strategy is focused on continued innovation and diversification, including the use of the best available technology to commercialize our next generation photobooths (Photo.ME), continuing to expand our laundry operations (Wash.ME), and growing our food vending operations (Feed.ME) to become a leader in France by the end of next year.”
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Reported |
|
|
|
12 months ended |
12 months ended |
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Revenue |
£214.4m |
£186.3m |
|
EBITDA (excluding associates)1 |
£65.1m |
£41.4m |
|
Profit before tax2 |
£28.6m |
£(27.8)m |
|
Profit after tax |
£21.9m |
£(24.9)m |
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Cash generated from operations |
£66.1m |
£51.8m |
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Gross cash |
£98.4m |
£106.2m |
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Net Cash |
£34.9m |
£22.3m |
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Earnings per share (diluted) |
5.77p |
N/A |
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Total dividend per ordinary share |
2.89p |
N/A |
1 EBITDA is Reported profit before tax, total depreciation and amortisation, other net gain, finance cost and revenue.
2 Includes impairments and provisions