|Financial results stated in £m||12 months to June 30, 2018||12 months to June 30, 2017|
January 11 2019, London:Haymarket Media Group has today filed annual accounts showing an increase in EBITDAE to £3.5m (2017: £2.6m). This takes into account a significant investment in the company’s technology infrastructure – specifically in the development of an e-commerce platform in the company’s Automotive division. It also reflects the divestment of all non-automotive consumer brands.**
Kevin Costello, CEO of Haymarket Media Group, said: “This set of results underlines real momentum in deploying our strategy of creating a balanced portfolio of diverse revenue streams in our chosen markets.
“70% of our revenues now come from digital, data and live activity. Our revenues are now equitably split 50% between the UK and the rest of the world.
“Haymarket operates in a number of international territories including the UK, US, Asia, India and Germany. Focusing on core content sectors across business media, content solutions and the automotive markets, reaching carefully selected, highly engaged audiences.
Costello added: “A major focus has been de-leveraging our balance sheet. From a situation where we had £150m debt in 2012, we’re now effectively debt-free, which is liberating. We’re investing in innovative new revenue opportunities around paid content and events, as well as new e-commerce platforms – particularly in our Automotive division.”
For the first time since 1997, the company is not servicing any term debt. In March 2017, the Group announced the single largest investment in its history – a £50m investment – in developing the digital and e-commerce potential of its powerhouse Automotive brands, a UK retail marketplace now worth £85bn. This hit a significant milestone with the launch of a new What Car? New Car buying portal in 2018, which links car buyers to car dealers in a secure online environment.
Lord Heseltine, Chairman of Haymarket, says: “These are encouraging figures, despite the changes in the media landscape and the continued macroeconomic uncertainties, particularly around the impacts of Brexit.
“The results show a business in very sound financial shape and reflects the progress with our strategy, which continues to position us well for the future: investing in the company’s technology infrastructure to build diversified revenue streams around a raft of new opportunities.”
* Earnings before Interest, Tax, Depreciation, Amortisation and Exceptionals
**Haymarket recently announced the sale of PistonHeads, with the company’s focus now being on the new, nearly-new and classic car market. This is not reflected in this reported financial period.
Roxanne Newell, Communications Manager – email@example.com
About Haymarket Media Group:
Haymarket Media Group creates award-winning specialist content and services for international audiences. The company has more than 70 market-leading brands created by world-class experts in locations in the UK, the US, Hong Kong, Singapore, India and Germany.
Our consumer and professional brands connect people and communities across digital, mobile, print and live media platforms. Although Haymarket’s portfolio is diverse, its mission is the same across borders and markets: to deliver brand experiences which truly meet the needs of its audiences and clients.
Haymarket’s brands include What Car?, Autocar, Campaign, PRWeek, MyCME and Finance Asia.