Trading Update and Board Change

Vianet Group PLC

29 April 2026

 

29 April 2026

Vianet Group plc

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

Trading Update, Notice of Results, Proposed Final Dividend and Board Change

Vianet, the international provider of actionable data, business insights and payment solutions through its integrated ecosystem of connected hardware devices, software platforms and smart insights portals, is pleased to provide a trading update for the financial year ended 31 March 2026, and confirms that the Company's full-year results for the year ended 31 March 2026 will be published on Tuesday, 09 June 2026.

The Group has delivered a resilient financial performance in the year, underpinned by the strength of its recurring revenue model, and continued operational discipline, despite a more cautious customer investment environment as flagged in the Group's update in February.

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Financial Highlights

·      Turnover: £15.5 million (FY25: £15.3 million), demonstrating continued year-on-year steady growth.

·      Recurring revenue: £13.6 million representing 88% of total revenue, reinforcing the strength and visibility of the Group's business model.

·      Gross margin: Maintained at 69%, reflecting ongoing operational efficiency and pricing discipline.

·      Adjusted EBITA (pre-exceptional and share based payments): £3.61 million (FY25: £3.59 million), evidencing stable profitability.

·      Net cash: £0.44 million at year end (FY25: net debt of £0.38 million), which was ahead of expectations and reflected strong cash generation and balance sheet improvement.

·      Proposed final dividend: Increased to 2.0p per share, demonstrating confidence in the Group's financial position and future prospects.

·      Total dividend for FY26: 2.4p per share (interim: 0.4p paid January 2026), representing an 85% increase on FY25's total dividend of 1.3p per share, reflecting the Board's progressive dividend policy and growing confidence in the business.

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Operational Overview

Both the Smart Machines and Smart Zones divisions continued to expand their installed base through a combination of new contract wins and extensions with existing customers. As previously announced, while the Group experienced some delays in deployment and conversion of pipeline opportunities during the second half, reflecting timing delays rather than loss of contracts, overall demand for Vianet's solutions remains robust, supported by the clear value delivered to customers through enhanced operational insight and efficiency.

In addition, the Group's strategic focus on long-term contracts and recurring income continues to underpin performance, providing strong revenue visibility and resilience. This model positions the business well to benefit when customer investment cycles begin to normalise, and delayed deployments convert into revenue.

In the United States, the Group has continued to build its presence, securing key customer agreements and establishing a platform for future growth. The level of revenues in the year reflects the early stage of this expansion and the Board remains encouraged by the scale of the opportunity and the strength of the pipeline.

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Cash Generation and Capital Allocation

Vianet has delivered a standout cash performance this year, with its high-quality recurring revenue base and tight working capital discipline converting strongly into cash. The Group has crossed a significant threshold, moving from a net debt position of £0.38 million last year to a net cash balance of £0.44 million at year end. This cash-generative model is no accident. With 88% of revenues locked in under multi-year contracts, Vianet enjoys exceptional revenue visibility and predictability - a rare quality that funds continued investment in product innovation and geographic expansion, while simultaneously supporting a growing return to shareholders. Reflecting that confidence, the Board is proposing an increased final dividend of 2.0p per share - bringing the total FY26 dividend to 2.4p (including the 0.4p interim paid in January). This represents an 85% uplift on FY25's total of 1.3p, and underscores the Board's commitment to a progressive, sustainable dividend policy as the business scales.

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Leadership and Succession Planning

Progressing from the combined CEO - Chairman role implemented during the pandemic, Vianet enters its next chapter with a clear plan and the right leadership team in place. The Board has been engaged in a thorough and deliberate succession process - one designed to ensure continuity of momentum while equipping the Group with the leadership profile best suited to its next phase of growth: sharper operational execution, deeper customer engagement, and the scaling of its technology platforms.

The result of that process is the appointment of Craig Brocklehurst as Chief Executive Officer, effective 31 May 2026. Craig, who has a strong commercial instinct, has been a central figure within the business for several years, accumulating deep operational knowledge and an intimate understanding of the Group's customers, markets, and technology. He has been at the heart of several of Vianet's most significant milestones including the expansion of its recurring revenue base, the development of the hospitality and unattended retail platforms, and the cultivation of key long-term customer relationships. His track record of delivery makes him the natural choice to drive the Group forward.

As part of this transition, James Dickson, who has led the business with distinction, will step down as Chief Executive Officer and return to his role as Chairman of the Board. The Group will continue to draw on James's strategic insight, his relationships in the US market, and his enduring commitment to Vianet's success - ensuring this transition is truly additive.

The Board is mindful of best practice corporate governance and is confident this is a planned, orderly, handover that preserves leadership continuity while injecting fresh operational energy at the top. Craig's appointment is a powerful signal of the strength of Vianet's internal talent pipeline - and of a management team that is ready to deliver.

Additional Disclosures Required under the AIM Rules for Companies

In accordance with AIM Rule 17 and Schedule 2(g) of the AIM Rules, Craig Brocklehurst (aged 50) currently holds no other directorships.

Mr Brocklehurst does not have any previous directorships or partnerships of which he has been a director or partner over the last five years.

There is no further information to be disclosed in respect of the above appointment pursuant to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.

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Outlook

The Board remains confident in the Group's long-term prospects. The strength of Vianet's recurring revenue model, combined with a growing installed base and a healthy pipeline of opportunities, provides a solid platform for future growth.

As customer investment activity eventually normalises and delayed deployments convert, the Group is well positioned to capture improved momentum across both divisions. Ongoing investment in technology, alongside expansion in the US market, adds further potential to an already compelling growth trajectory.

The Board enters the new financial year with conviction - and a clear focus on delivering sustained, long-term value for shareholders.

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James Dickson, Chairman of Vianet, commented:

"This has been a year of genuine progress for Vianet. Our recurring revenue model has once again demonstrated its strength - converting reliably into cash, enabling us to move from a net debt position to a healthy net cash balance, and giving us the financial firepower to both invest in growth and increase returns to shareholders.

While some customers understandably took longer than anticipated to finalise deployment decisions, the underlying demand for what we do is real, growing, and not going away. Our pipeline gives us every reason to be optimistic.

I am also immensely proud to be announcing Craig Brocklehurst as our incoming Chief Executive Officer. Craig has been instrumental in building the Vianet of today - from the growth of our recurring revenue base to the development of our Smart Zones and Smart Machines platforms. He steps into this role with the trust of the Board, a deep understanding of our customers and markets, and a clear vision for where we go next. I look forward to supporting him as Chairman as we capitalise on the significant opportunity ahead."

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This announcement contains inside information.

Investor Presentation

The Vianet management team will provide a live presentation of the FY results via the Investor Meet Company ('IMC') platform on Tuesday 09 June 2026 at 10 am. The presentation is open to all existing and potential shareholders. Via your IMC dashboard questions can be submitted pre-event until 9am on the day or during the live presentation.
Investors can sign up to Investor Meet Company for free and add to meet VIANET GROUP PLC via: https://www.investormeetcompany.com/vianet-group-plc/register-investor

Enquiries:

Vianet Group PLC
James Dickson, Chairman Sarah Bentham, CFO	Tel: [phone] www.vianetplc.com
Cavendish Capital Markets Limited
Stephen Keys / Isaac Hooper	Tel: [phone]
Investor Enquiries:
Dale Bellis	Tel: [phone]
	www.cavendish.com

About Vianet

Vianet Group is a leading provider of IoT-driven data insights and payment solutions, combining smart device data with external sources to deliver actionable intelligence. Since joining AIM in 2006, the Group has expanded beyond its core beer monitoring roots into inventory solutions, vending telemetry, and contactless payment solutions for unattended retail.

Serving 300+ customers globally and processing data from over 250,000 connected devices daily, Vianet is a leading European B2B provider with over 85% recurring revenues and strong blue-chip relationships. The Group is also expanding its presence in the USA hospitality market, securing key contracts, and building a platform for future growth.

Its Smart Machines unattended retail division enables device-level connectivity and payments, while Smart Zones division integrates multiple devices through a central hub to deliver system-wide insights and inventory management solutions for hospitality operators.

For more information, visit www.vianetplc.com

 

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