Information on Avidly Plc’s revenue and profitability in January–March 2020

Information on Avidly Plc’s revenue and profitability in January–March 2020

Avidly Plc, inside information, 12 May 2020 at 9.00 am EEST

Avidly Plc has moved forward with the preparation of a contemplated rights issue of up to EUR 2.5 million, as announced on 26 March 2020. The company intends to resolve on the rights issue as well as disclose explicit terms and conditions of the rights issue and a basic information document compliant with the Finnish Securities Markets Act by this mid-May.

As part of the preparations for the rights issue, Avidly discloses new financial information on Avidly Group’s revenue and profitability for January–March 2020 through this company release. The financial information presented on this company release is unaudited.

CEO Jesse Maula:

“During the first quarter, we began to see the first results of a profitability project which we have launched for our business. Avidly group’s unaudited revenue for the first quarter of the ongoing year was around EUR 6.7 million, with EBITDA being close to the break-even point.”

Due to the uncertain state of the world economy, the company's business has nevertheless low predictability, and Avidly will thus not provide an estimate on revenue and operating result for 2020 at this stage. We closely monitor the impacts of the coronavirus pandemic on our customers’ businesses and on our own demand outlook and will adjust our operations as necessary.

Avidly complies with half-yearly reporting. The company will not publish business reviews for the first three and nine-month periods of the year concerning key information on the company’s financial situation and development.

This release contains information which Avidly Plc makes public pursuant to the EU Market Abuse Regulation, article 17.

AVIDLY PLC
BOARD OF DIRECTORS

Additional information:
Jesse Maula, CEO, Tel. +358 40 548 0248
Hans Parvikoski, CFO, Tel. +358 40 586 6154

Oaklins Merasco Oy acts as Avidly Plc’s Certified Advisor, tel. +358 9 6129 670

Avidly is Finland’s leading marketing and communications service provider and a leading marketing automation company in the Nordics, listed on the Nasdaq First North Growth marketplace in Helsinki. We create an atmosphere for growth to take our customers forward. We are a team of around 230 navigators and explorers, makers and shakers in 16 locations in Finland, Sweden, Norway, Denmark and Germany. Read more: investors.avidlyagency.com/en

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