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Martin Higginson of Immotion discusses their best ever results showing EBITDA profitability for the first time
Martin Higginson CEO of of Immotion #IMMO discusses their best ever results showing EBITDA profitability for the first time.
Highlights
· H1 2021 revenue £2.8m
· Near breakeven result in H1 - EBITDA loss £31k
· Outstanding performance in Q3 - revenue circa £3m, estimated EBITDA circa £0.6m, adjusted PBT breakeven[1]
· Six consecutive months of underlying EBITDA profit (April-September)
· Record Group results for June, July and August
· H2 expected to be strongly cash generative. Cash on hand £0.9m (30 June 2021: £0.6m)
· Location Based Entertainment ("LBE") division - almost all sites now open and trading
· H2 seeing growing revenue and contributions from Home Based Entertainment ("HBE") and Uvisan
· New LBE zoo offering in production for spring 2022 launch
· New HBE product - "Vodiac" - to be beta launched in Q4 2021
· Uvisan received first significant NHS order for 64 cabinets
About Immotion Group
Immotion Group aims to become a market leader in the western market sector of the “Out of Home” virtual reality market, with the objective of creating recurring revenues from a large installed base of Virtual Reality (“VR”) headsets across partner sites and ImmotionVR experience centres.