Communicators

May 31, 2024 - Aspermont (ASX:ASP, FRA:00W), the market leader in B2B media for the global resource sectors is pleased to announce H1 results for HY24 and to confirm a 33rd consecutive quarter of growth in Subscription Revenues.

For the full half year report and commentary please see:

-          Half Yearly Report and Accounts (Full Report)

-          Aspermont Half-Year 24 Results Investor Presentation

H1 Financial Highlights

-          Subscriptions Revenue growth of 2% y-o-y to $4.9m.

-          Subscriptions Revenue now accounts for 62% of overall revenue.

-          Total Revenue was 15% lower y-o-y, at $8.0m.

-          Total Recurring Revenue improved by 4% y-o-y to 78%.

-          Gross Profit of $3.9m, with margins of 49%.

-          Reported and Normalised EBITDA of ($1.0m) and ($0.6m) respectively.

-          Reported and Normalised NPAT of ($1.7m) and ($1.4m) respectively.

-          Closing cash balance of $1.4m, with no long-term debt.

H1 Operational Announcements

-          Aspermont launches creative agency, Nexus.

-          Aspermont partners with Rick Rule.

-          Website upgrades across all media platforms.

Aspermont MD, Alex Kent, said:

“In fiscal year 2023, we introduced significant investment initiatives, bolstered our senior management teams, and enhanced both operational capacity and our technological leadership. Transitioning into fiscal year 2024, our primary aim is to capitalise on these advances, drive profitability and to achieve robust double-digit growth in subscription revenues. We prioritise revenue quality over volume, and we maintain our commitment to product development, particularly in data and intelligence. This year is dedicated to reinforcing our organic growth foundation to support long term growth.

Certainly, the first half of fiscal year 2024 presented some challenges. The death of our chairman and founder, Andrew Kent, in September, was a significant emotional and commercial blow now being overcome. The liquidation of our Blu Horseshoe business venture at the end of Q1 was disappointing. Adverse cyclical conditions in mining finance have been worse than expected and some temporary staff shortages in our subscriptions team hampered our operational efficiency and growth momentum in H1.

But, after eight years of restructuring, Aspermont is now resilient and able to withstand shocks. We are debt-free with ample cash reserves and solid fundamentals, and with an experienced management team accustomed to challenge, Aspermont is ideally positioned to deliver sustained growth.

Looking beyond the headline figures, our first half of 2024 was a building phase focused on new product development and on upgrading product quality. We successfully migrated all brands onto the new V5 platform ,which has improved audience engagement and  development. Furthermore, enhancements to our content offerings, and our successful recruitment of new senior management talent in Editorial, Research, and Data, boosts the underlying value proposition of our brands.

Our content production is improving at all levels, with positive audience response to those improvements. These advances lay the foundation for sustained organic revenue growth and we expect to continue our 33 consecutive quarter growth phase, with increased subscriptions growth in the second half of the year. With new data and intelligence products set for launch in Q4 we expect to upscale our growth momentum going forward.

During the first half of this year, we launched Nexus, our rebranded marketing agency to formalise the success of our multi-year pilot program. Over the second half of FY 24 we expect strong growth in Nexus, and continued momentum in Data Services. Re Live Events, we anticipate a second successful year for Future of Mining (Perth) and we are excited about the launch of Future of Mining (Asia), in partnership with the Singapore government and Singapore Stock Exchange, in September 2024.

Our partnership with Rick Rule, an esteemed shareholder, for our mining finance event series, particularly Mining Journal Select London in July, has attracted positive publicity while adding valuable knowledge capital.

Overall, our first half was a building period, and I am excited about several new levels of innovation at Aspermont. Having great people on our board who support our strategy gives us confidence. In the second half we will focus on balancing profitability as we build cash reserves to support a management team driving our long-term growth.”

Contact

Tel:  +61 8 6263 9100

Email: contact@aspermont.com

Website: www.aspermont.com

613-619 Wellington St, Perth, Western Australia 6000