MediaZest Plc - Final Results

MediaZest Plc - Final Results

PR Newswire

LONDON, United Kingdom, February 27

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

27 February 2026

MediaZest Plc

("MediaZest", the "Company", or the "Group")

Final Results

MediaZest plc (AIM: MDZ), the creative audio-visual solutions provider, announces its consolidated audited results for the year ended 30 September 2025 ("FY25"), a period of considerable growth, with a substantial improvement in EBITDA performance and an enhanced cash position following a strong trading performance in FY25.

Financial Highlights:

Year ended 30 September 2025	FY25	FY24
	£'000	£'000
Revenue	4,154	3,074
Gross Profit	2,346	1,595
Gross Margin	56%	52%
EBITDA 1	331	14
Profit after tax/(Loss)	98	(214)
Earnings per share (pence)/(Loss)	0.0058	(0.0133)
Cash	99	64

1EBITDA is defined as (Loss)/Profit before tax adding back finance costs, depreciation and amortization. See Accounting Policies for reconciliation from reported results to EBITDA.

Operational Highlights:

• Delivered a strong last four months of FY25, with installations and roll out programmes with long-standing clients within the year including:

• First Rate - significant new contract signed, providing digital currency board installations for First Rate's clients
• Pets at Home - delivered solutions in multiple stores, including ongoing support and maintenance and content services
• Lululemon Athletica - LED and audio solutions were provided for stores in Berlin, Milan, and the new London flagship store in Regent Street
• Arc'teryx- delivered LED solutions and digital community screens in six European Flagship stores - Chamonix, Milan, Stockholm, Manchester, Parndorf Austria and Bicester Village in Oxfordshire.
• Kia -work continued in Ireland, the Netherlands and Slovakia with digital signage solutions and associated ongoing support services delivered to additional dealerships in each territory
• Hyundai- delivered digital signage solutions to support and promote EV ranges in dealerships within the UK
• Duty Free- worked across the globe in multiple locations to support a large brand within these stores including digital signage solutions and local support hubs
  

• Appointment of new Chairman, Keith Edelman, in June 2025

Post Year-End Highlights:

• Successful restructuring of debt obligations, led by our new Chairman, securing agreement from loan holders to write off £529,000 worth of interest and leave a principal sum of £785,609 to repay over the next six years
• Raised gross proceeds of £215,000 with new and existing investors, whilst bringing on Dr Graham Cooley as a new significant shareholder to the Company

Geoff Robertson, Chief Executive Officer of MediaZest, commented: " We are extremely pleased with the strong performance the Company has delivered in FY25, working with our long-standing clients. It's been pleasing to see the strong long-term demand continue across all three core sectors with our outlook for FY26 remaining strong, targeting more year-on-year growth and further increased profitability in FY26."

Notice of Investor Presentation

Geoff Robertson, Chief Executive Officer, and Keith Edelman, Chairman, will provide a live presentation in relation to the Company's Final Results via the Investor Meet Company platform on Wednesday 11 March 2026 at 11am GMT. The presentation is open to all existing and potential shareholders. Investors can sign up to Investor Meet Company for free and register here: https://www.investormeetcompany.com/mediazest-plc/register-investor.

For further information please contact:

MediaZest Plc		www.mediazest.com
Geoff Robertson, Chief Executive Officer		via Walbrook PR
SP Angel Corporate Finance LLP (Nomad)		Tel: [phone]
David Hignell / Adam Cowl
Hybridan LLP (Corporate Broker)		Tel: [phone]
Claire Louise Noyce
Oberon Capital (Corporate Broker)		Tel: [phone]
Nick Lovering / Adam Pollock
Walbrook PR (Media & Investor Relations)	Tel: [phone]or [e-mail]
Paul McManus / Lianne Applegarth Alice Woodings		Mob: [phone] / [phone]

About MediaZest ( www.mediazest.com)

MediaZest is a creative audio-visual solutions provider that specialises in delivering innovative digital signage and audio systems to leading retailers, brand owners and corporations. The Group offers an integrated service from content creation and system design to installation, technical support, and maintenance. MediaZest was admitted to the London Stock Exchange's AIM in February 2005.

MediaZest's new AIM rule 26 investor site is now available to view on the Company website here: https://www.mediazest.com/about/investor-relations/

MediaZest plc

Chairman's Statement

for the Year Ended 30 September 2025

Introduction

The Board presents the consolidated audited results for the year ended 30 September 2025 ("FY25") for MediaZest plc ("MDZ", or the "Group", or the "Company") and its wholly owned subsidiary companies MediaZest International Ltd ("MDZI") and MediaZest International BV ("MDZBV") which together constitute the Group.

About MediaZest

MediaZest is a creative audio-visual solutions provider that specialises in delivering innovative digital signage and audio systems. The Group offers an integrated service from content creation and system design to installation, technical support, and maintenance and operates in three core sectors:

1. Retail- Major high street retail brands continue to transition to digital signage displays including window displays, self-service kiosks and large-scale displays, such as LED and videowalls.

2. Automotive- The role of technology in automotive showrooms has also evolved, with major automotive brands increasingly using audio-visual solutions on their sites.

3. Corporate Offices- Typical projects in this sector include hybrid meeting rooms, video conferencing technology and innovation centres.

During the last financial year, the Group worked with customers such as Pets at Home, Lululemon Athletica, KIA, Hyundai, First Rate Exchange Services ('First Rate'), Wincanton, Harrods, Arc'Teryxand Castore, whilst also completing multiple projects for a large consumer brand in Duty Free Shops across Europe, Middle East, Africa and Asia Pacific.

Overview

The Board is delighted to report that the trading performance of the Group has improved significantly over the last year, as a result of new business wins in recent months and continued roll out programmes with existing clients. Recurring revenue streams grew strongly due to these wins.

MediaZest has maintained year-on-year revenue growth, delivered a return to net profitability, with a substantial improvement in EBITDA profit (see definition in Accounting Policies), and has further improved the Company's overall cash position following a strong trading performance in FY25.

Post year end, the Group significantly improved its balance sheet by successfully restructuring its debt obligations, securing agreement from loan holders to write off £529,000 worth of interest and leave a principal sum of £785,609 to repay over the next six years. This agreement is detailed below and includes cessation of interest charges on these principal amounts moving forwards.

Financial Review

The augmented FY25 trading performance reflects the roll out of key client projects during the year, including new business wins. Group revenues rose 35% to £4.154m (FY24: £3.074m).

At the beginning of the financial year, the Board targeted year-on-year revenue growth, alongside a return to net profitability and an increase in EBITDA profitability, and we are pleased to deliver against all these objectives.

We have also seen further growth in longer-term recurring revenue contracts, having concluded the financial year with a recurring annual run rate of approximately £1.2m, up from £0.9m as at September 2024.

Year ended 30 September	FY25	FY24	FY23	FY22
Revenues (£'000)	4,154	3,074	2,335	2,820

Group results for the year and Key Performance Indicators ("KPIs"):

• Revenue for the year increased 35% to £4,154,000 (FY24: £3,074,000)
• Gross profit increased 47% to £2,346,000 (up from FY24: £1,595,000)
• Improving gross margin of 56% (FY24: 52%)
• Administrative expenses excluding depreciation and amortisation increased to £2,015,000 (FY24: £1,582,000)
• EBITDA profit increased strongly to £331,000 (FY24: £14,000)
• Profit After Tax improved to £98,000 (FY24: £214,000 Loss)
• Basic and fully diluted earnings per share 0.0058 pence (FY24: 0.0133 pence loss per share)
• Net assets of the Group were £689,000 (FY24: £591,000), with further improvement post-year end following the debt restructuring detailed below
• Cash in hand at 30 September 2025 was £99,000 (FY24: £64,000)

Operational Review

FY25 was a strong year for the Company, with our best ever profit performance and multiple ongoing client engagements delivered and contracted into future years.

The last four months of FY25 were particularly fruitful across the client base, continuing installations and roll out programmes with long-standing clients including Pets at Home, First Rate, Lululemon Athletica, Arc'teryxand Kia, generating approximately £1.8m in revenue, with a low-six figure net profit after tax.

The Group announced a significant new contract with First Ratein July 2025 to provide digital currency board installations for First Rate's clients. This included deployments across approximately 1,200 locations in the UK representing a significant investment by First Rate over the next five years in its business, predominantly delivered in the next 24 months. The roll out of this solution follows the successful completion of a "proof of concept" project with First Rate, which the Company announced in November 2024. First Rate and MediaZest are working together to develop and deploy solutions for multiple First Rate clients as part of this partnership, as First Rate continues to deliver innovative solutions to those clients as the leading foreign currency provider in the UK.

Throughout the year we continued to deliver solutions in multiple stores for Pets at Home, including ongoing support and maintenance and content services. LED and audio solutions were provided for Lululemon Athleticastores in Berlin, Milan, and the new London flagship store in Regent Street as MediaZest continues to work with them across Europe.

For Arc'Teryxwe delivered LED solutions and digital community screens in six European Flagship stores - Chamonix, Milan, Stockholm, Manchester, Parndorf Austria and Bicester Village in Oxfordshire.

Our work with KIAcontinued in Ireland, the Netherlands and Slovakia with digital signage solutions and associated ongoing support services delivered to additional dealerships in each territory. We continued to work with Hyundaiin the UK, delivering digital signage solutions to support and promote their EV ranges in dealerships and providing ongoing support for several solutions in the dealer network.

The Group also undertook work in Duty Freestores across much of the globe to support a large brand within these stores including digital signage solutions and local support hubs and installations using our partner network for those installs outside of EMEA.

In the corporate market, we deployed advance video conferencing solutions to a range of clients, including a refurbishment and refresh of the UK HQ of a global luxury fashion brand in Summer 2025.

New Chairman

In June 2025, the Group announced the appointment of Keith Edelman as Chairman of the Company with immediate effect. Keith succeeded Lance O'Neill, who retired from the Board, having been Chairman for over 18 years. Keith has over 40 years industry experience, working with FTSE 100, 250, AIM-listed and privately held companies across retail, hospitality, infrastructure, finance, sport, and digital sectors.

Debt Restructure

Post year end, the Group has successfully restructured its debt obligations, having actively engaged with all its key debt holders (the "Debt Holders").

MediaZest has also repaid the invoice discounting facility in full during the year and reached an agreement (the "Agreement") with shareholders and/or Debt Holders on existing loans and outstanding interest.

The Agreement, which was announced on 9 December 2025, will write off £529,000 worth of interest and leave a principal sum of £785,609 to repay over the next six years, concluding in FY31. Importantly, interest charges have ceased moving forwards. This restructuring will allow the Group to invest further in its improvement and growth.

Fundraising

Post year end, an equity fundraising in February 2026 raised £215,000 before fees via the issue of 358,334,950 ordinary shares of 0.01p in the capital of the Company to new and existing investors at a price of 0.06p per placing share.

Outlook

The Board continues to believe that the outlook for the new financial year, which has already begun exceptionally strongly, is encouraging, building on the success of FY25.

Long-term project roll-outs with existing customers, notably First Rate and our Duty Free client, are amongst several confirmed substantial projects in the new financial year. Recurring revenue streams continue to grow accordingly to support these projects.

Our Dutch subsidiary continues to perform well and attract client interest, whilst we consistently seek new opportunities in Europe.

As previously stated, we believe that adding scale to the current operational business via potential M&A activity would unlock shareholder value. The Board therefore continues to evaluate potential acquisition targets that would further enhance the Group's business and be value accretive.

The Board remains confident in the outlook for the Group, and will target further year-on-year growth and increased profitability in FY26. The Group is targeting revenue for the year ending 30 September 2026 of £5 million for the first time in its history and associated profit after tax in excess of £250,000.

Keith Edelman

Chairman

26 February 2026

Consolidated Statement of Profit or Loss

for the Year Ended 30 September 2025

		2025	2024
CONTINUING OPERATIONS		£'000	£'000
Revenue		4,154	3,074
Cost of sales		(1,808)	(1,479)
GROSS PROFIT		2,346	1,595
Administrative expenses		(2,123)	(1,655)
OPERATING PROFIT/(LOSS)		223	(60)
Finance costs		(120)	(151)
PROFIT/(LOSS) BEFORE INCOME TAX		103	(211)
Income tax		(5)	(3)
PROFIT/(LOSS) FOR THE YEAR		98	(214)
Profit/(loss) attributable to:
Owners of the parent		98	(214)
Earnings per share expressed
in pence per share:
Basic		0.0058	(0.0133)
Diluted		0.0058	(0.0133)

Consolidated Statement of Profit or Loss and Other Comprehensive Income for the Year Ended 30 September 2025

	2025	2024
	£'000	£'000
PROFIT/(LOSS) FOR THE YEAR	98	(214)
OTHER COMPREHENSIVE INCOME	-	-
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	98	(214)
Total comprehensive income attributable to:
Owners of the parent	98	(214)

Consolidated Statement of Financial Position

30 September 2025

		2025	2024
ASSETS		£'000	£'000
NON-CURRENT ASSETS
Goodwill		2,772	2,772
Owned
Intangible assets		9	-
Property, plant and equipment		90	56
Right-of-use
Property, plant and equipment		284	355
		3,155	3,183
CURRENT ASSETS
Inventories		195	76
Trade and other receivables		1,641	649
Cash and cash equivalents		99	64
		1,935	789
TOTAL ASSETS		5,090	3,972
EQUITY SHAREHOLDERS' EQUITY
Called up share capital		3,686	3,686
Share premium		5,331	5,331
Share option reserve		146	146
Retained earnings		(8,474)	(8,572)
TOTAL EQUITY		689	591
LIABILITIES NON-CURRENT LIABILITIES
Financial liabilities - borrowings and
lease liabilities		448	492
CURRENT LIABILITIES
Trade and other payables Financial liabilities - borrowings and		2,670	1,412
lease liabilities		1,283	1,477
		3,953	2,889
TOTAL LIABILITIES		4,401	3,381
TOTAL EQUITY AND LIABILITIES		5,090	3,972

Consolidated Statement of Changes in Equity for the Year Ended 30 September 2025

	Called up			Share
	share	Retained	Share	option	Total
	capital	earnings	premium	reserve	equity
	£'000	£'000	£'000	£'000	£'000
Balance at 1 October 2023	3,656	(8,358)	5,244	146	688
Changes in equity
Issue of share capital	30	-	87	-	117
Total comprehensive income	-	(214)	-	-	(214)
Balance at 30 September 2024	3,686	(8,572)	5,331	146	591
Changes in equity
Total comprehensive income	-	98	-	-	98
Balance at 30 September 2025	3,686	(8,474)	5,331	146	689

Consolidated Statement of Cash Flows for the Year Ended 30 September 2025

		2025	2024
		£'000	£'000
Cash flows from operating activities
Cash generated from operations		478	(108)
Net cash from operating activities		478	(108)
Cash flows from investing activities
Purchase of intangible fixed assets		(10)	-
Purchase of tangible fixed assets		(70)	(28)
Net cash (used in) investing activities		(80)	(28)
Cash flows from financing activities
Other loans receipt/(repayment)		30	13
Shareholder loan net (repayment)/receipt		(79)	84
Bounce back loan (repayment)		(10)	(8)
Payment of lease liabilities		(71)	(7)
Proceeds of share issue		-	120
Share issue costs		-	(3)
Invoice financing (repayment)		(203)	-
Interest paid		(30)	(39)
Net cash (used in)/from financing activities		(363)	160
Increase in cash and cash equivalents		35	24
Cash and cash equivalents at beginning of year		64	40
Cash and cash equivalents at end of year		99	64

Notes to the Group Preliminary and Final Results Statement for the Year Ended 30 September 2025

STATUTORY INFORMATION

MediaZest plc is a public limited company which is listed on the AIM market of the London Stock Exchange, limited by shares; domiciled and incorporated in London, United Kingdom, under company registration number 05151799. The principal place of business, as well as registered office, is 9 Woking Business Park, Albert Drive, Woking, Surrey GU21 5JY.

ACCOUNTING POLICIES

Basis of preparation

The Group financial information set out in this Preliminary and Final Results Announcement does not constitute the Group's statutory financial statements for the years ended 30 September 2025 or 2024. The financial information has been extracted from the Group's statutory financial statements for the years ended 30 September 2025 and 2024. The auditors have reported on those financial statements; their report was unqualified, did not include references to any matters to which the auditors drew attention by way of emphasis and did not contain a statement under Section 498(2) or (3) of the Companies Act 2006.

The statutory accounts for the year ended 30 September 2025 will be filed with the Registrar of Companies. The statutory accounts for the year ended 30 September 2024 have been filed with the Registrar of Companies. The report of the auditors on those statutory accounts was also unqualified, and also did not contain a statement under section 498(2) or (3) of the Act.

Alternative Performance Measure - EBITDA

This is defined as Profit/(Loss) before Tax, adjusted for finance costs, depreciation and amortisation. The company uses this as a valuable measurement of performance after administrative expenses are deducted, but before depreciation, amortisation, finance costs and tax are considered.

Operating profit/(loss)

This is defined as Profit before Tax, adjusted for finance cost.

These can be reconciled as follows:

		2025	2024
		2025 £'000	2024 £'000
Profit/(loss) on ordinary activities before taxation		103	(211)
Finance costs		120	151
Operating profit/(loss)		223	(60)
Administrative expenses - depreciation & amortisation		108	74
EBITDA		331	14

1. Going concern

The Group made a profit after tax of £98,000 and has net current liabilities of £2,018,000 at year end. The financial statements have been prepared on a going concern basis, which the Directors consider appropriate based on the following key judgment:

Critical judgment - basis for going concern

Management has concluded that the Group will continue to meet its liabilities as they fall due for at least 12 months from the date of approval of these financial statements. This assessment is based on contracted revenue, secured extensions of existing client projects, recurring income streams, and the impact of the debt restructuring and equity fundraising completed after the year end.

The Directors have considered financial projections covering the 12 - month period from the date of approval of the accounts, which incorporate:

1. revenue from contracts already won or contractually committed

2. the continuation of major roll - out projects with existing clients

3. recurring revenues that increased significantly during 2026.

Post year - end financing and debt restructuring

Following the year end, the balance sheet was significantly strengthened through both a restructuring of shareholder debt and an equity fundraising completed in February 2026. Under the restructuring, £529,000 of accrued interest was written off and the remaining principal of £785,609 will be repaid over six years, concluding in FY31. Should there be a default in the agreed payment plan, and the Company fails to remediate with the shareholder, the balance becomes repayable on demand. Interest charges ceased from 1 May 2025. These actions provide improved liquidity and the ability to invest in operational delivery and growth.

Management has engaged closely with key clients to understand their implementation plans for the coming year, particularly in relation to ongoing roll - outs and confirmed projects scheduled for delivery in the next 12 months.

Having reviewed the forecasts and the associated risks and sensitivities, the Directors are satisfied that the Group has adequate financial resources to continue operating for the foreseeable future. Accordingly, the financial statements are prepared on a going concern basis.

The financial statements do not include any adjustments that would arise if the going concern basis were inappropriate.

2. Segmental reporting

Revenue for the year can be analysed by customer location as follows:

		2025		2024
		£'000		£'000
UK and Channel Islands		3,127		2,652
Rest of Europe		784		422
Rest of World		243		-
		4,154		3,074
An analysis of revenue by type is shown below:
		2025		2024
		£'000		£'000
Hardware and installation		2,933		2,529
Support and maintenance - recurring revenue		1,221		453
Other services (including software solutions)		-		92
		4,154		3,074
Analysis of revenue recognition
		2025		2024
		£'000		£'000
Recognised at a point in time		2,933		2,573
Recognised over time		1,221		501
		4,154		3,074
Analysis of future obligations:
		2025		2024
		£'000		£'000
Performance obligations to be satisfied in the next year		1,774		402
Performance obligations to be satisfied in later years		-		-
		1,774		402

Segmental information and results

The Chief Operating Decision Maker ('CODM'), who is responsible for the allocation of resources and assessing performance of the operating segments, has been identified as the Board. IFRS 8 requires operating segments to be identified on the basis of internal reports that are regularly reviewed by the Board. The Board have reviewed segmental information and concluded that there is only one operating segment.

The Group does not rely on any individual client, however there are three clients who have contributed over 10% of total revenue. The following revenues arose from sales to the Group's largest client, which account for 20% of overall revenue:

		2025			2024
		£'000			£'000
Goods and services		514			503
Service and maintenance		348			168
		862			671

3. EARNINGS PER SHARE

		2025	2024
Profit/(loss)		£'000	£'000
Profit/(loss) for the purposes of basic and diluted earnings per share being net loss attributable to equity shareholders		98	(214)

		2025	2024
Number of shares		Number	Number
Weighted average number of ordinary shares for the purposes of basic earnings per share		1,696,425,774	1,615,055,911
Number of dilutive shares under option or warrant		-	-
		2025	2024
Weighted average number of ordinary shares for the purposes of dilutive loss per share		1,696,425,774	1,615,055,911

Basic earnings per share is calculated by dividing the profit after tax attributed to ordinary shareholders of £98,000 (2024 loss: £214,000) by the weighted average number of shares during the year of 1,696,425,774 (2024: 1,615,055,911).

The diluted profit per share is identical to that used for basic profit per share as the options are "out of the money" and therefore anti-dilutive.

4. RECONCILIATION OF PROFIT/(LOSS) BEFORE INCOME TAX TO CASH GENERATED FROM OPERATIONS

Group
		2025	2024
		£'000	£'000
Profit/(loss) before income tax		103	(211)
Depreciation charges		108	74
Tax on ordinary activities		-	(3)
Finance costs		120	151
(Increase)/decrease in inventories		331	11
Increase in trade and other receivables		(119)	21
Increase in trade and other payables		(992)	(244)
		1,258	104
Cash generated from operations		478	(108)

5. CASH AND CASH EQUIVALENTS

		2025	2024
		£'000	£'000
Cash in hand		99	64

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