EBITDA break-even in sight
H1 results were affected by the write-down of a large receivable and a slow Q1. However, momentum accelerated in Q2, there is a healthy sales pipeline and, with £1m cost savings identified, 7digital is on track to turn EBITDA positive from H216. Continued growth in monthly recurring revenue (MRR) should become more visible in H216 and reaching EBITDA break-even could provide the necessary catalyst for a re-rating.7Digital Group has three divisions: Content, Licensing and Creative. The Content division includes the sales of digital music downloads by Co. direct to consumers, and one off projects from record labels. Licensing is the core of Co.'s business, providing the platform and rights management personnel through which its business-to-business customers can create their own streamed music services, either standalone or bundled into their device or product offering. Co.'s Creative division is engaged in the creation of audio and video programming for broadcasters, receiving commissions from BBC's national radio networks, commercial radio stations and other broadcasters such as Sky Television.
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