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Taptica Int. Ltd (TRMR)

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Thursday 04 January, 2018

Taptica Int. Ltd

Trading and Business Update

RNS Number : 9123A
Taptica International Ltd
04 January 2018
 

4 January 2018

 

Taptica International Ltd

("Taptica" or the "Company")

 

Trading and Business Update

Company to report EBITDA ahead of market expectations with Tremor Video DSP achieving profitability ahead of schedule

 

Taptica (AIM: TAP), a global end-to-end mobile advertising platform for advertising agencies and brands, provides the following update on trading for the year to 31 December 2017.

 

As stated in the Company's interim results announcement on 26 September 2017, Taptica had been working closely with the Tremor Video DSP team, since the acquisition in August 2017, and was confident that the unit would achieve its targets for FY 2017. During the fourth quarter of the year, the progress of the integration accelerated and was completed ahead of schedule. The Company installed new management alongside the existing team, set targets and budgets, and established cost control measures. Taptica also finalised the strategic plan and vision for Tremor Video DSP to be implemented over the next three years. As a result, Tremor Video DSP performed better than anticipated, including achieving profitability during 2017 rather than in 2018 as initially expected.

 

Taptica also continued to expand its Tier 1 client base as well as increase its business with its existing household-name clients. The growth was driven by the significant contribution to revenues from the Company's newly established international offices, primarily in the Asia-Pacific region, and, in particular, by the strong performance of Adinnovation in Japan, in which Taptica acquired a majority stake in 2017.

 

As a consequence, the Company expects to report adjusted EBITDA for FY 2017 ahead of market expectations and revenue broadly in line with market expectations demonstrating a higher-than-expected EBITDA margin. The Company remains confident of delivering solid year-on-year EBITDA growth for 2018 in line with market expectations.

 

The Company looks forward to providing a further update at the time of the full year results in March 2018.

 

This Announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR").

 

For further details:

 

Taptica

+972 3 545 3900 

Hagai Tal, Chief Executive Officer 

 

 

finnCap (Nomad and Joint Broker)

+44 20 7220 0500

Jonny Franklin-Adams, James Thompson - Corporate Finance

Tim Redfern, Richard Chambers - Corporate Broking

 

 

Berenberg (Joint Broker)

+44 20 3207 7800

Chris Bowman, Mark Whitmore

 

 

 

Luther Pendragon (Financial PR adviser)

   9100 7618 20 44+

Harry Chathli, Claire Norbury  

 

 

 

 

 

About Taptica

 

Taptica is a global end-to-end mobile advertising platform that helps the world's top brands reach their most valuable users with the widest range of traffic sources available today, including social. Its proprietary technology leverages big data and, combined with state-of-the-art machine learning, enables quality media targeting at scale. Taptica creates a single arena in which brands can scale and engage more relevantly with mobile audiences, staying ahead of the competition. It works with more than 600 advertisers including Amazon, Disney, Facebook, Twitter, OpenTable, Expedia, Lyft and Zynga. Taptica is headquartered in Israel with offices in San Francisco, New York, Beijing, Seoul and London. Taptica is traded on the London Stock Exchange (AIM: TAP).


This information is provided by RNS
The company news service from the London Stock Exchange
 
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