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On today's Vox Markets Podcast: Martin Higginson of Immotion explains their improving financials in their recent trading update
Martin Higginson CEO of Immotion Group #IMMO explains their improving financials in their recent trading update.
H1 outcome and July trading update summary - see full release HERE
H1 outcome and July trading update Immotion, the UK immersive entertainment company, is pleased to confirm that it expects its unaudited H1 results to show a near EBITDA breakeven outcome on revenue of circa £2.7m*.
As previously announced, June 2021 was our best ever monthly result with unaudited Group EBITDA of £126k on revenue of £850k (an uplift on the previously estimated figures), driven largely by the strong performance of the core Location-Based Entertainment ("LBE") business.
We are further pleased to confirm that the second half of 2021 has started very strongly with July being yet another record month. Unaudited Group revenue was £1m, with unaudited EBITDA at circa £200k, a considerable increase versus June, taking the company into overall EBITDA profitability for the year to date.
The growth in revenue in July (versus June) has been driven by improved trading in our LBE division, which benefitted from school holidays in both the USA and UK, driving LBE revenue to £922k (vs £732k in June).
Immotion Group aims to become the market leader in "out of home" Immersive Entertainment Experiences, by combining best in class Virtual Reality ("VR") content with cutting edge motion platforms; offering consumers in high traffic leisure destinations, (such as shopping malls and family entertainment centres) state of the art VR experiences.