Edison Investment Research - Goodwood Capital (GWC) FY17 results and revised KOMs

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Edison Investment Research

Fiona Orford-Williams

FY17 results and revised KOMs

Snakk Media (SNK) has published its FY17 results and reset its FY18 key operating milestones (KOMs). While revenues were a shade ahead of the prior year, the operating loss widened considerably from NZ$1.0m to NZ$3.3m, reflecting the investment made in repositioning the business. With a broader range of revenue streams and a reduced cost base kicking in more strongly from Q218, financial performance may start to improve. In early May, the Manji Family Trust subscribed at a premium to additional shares to help fund working capital and now holds 17.2% of the equity.

02/06/2017 3 EN

Underlying

Goodwood Capital

Snakk Media Limited. Snakk Media Limited is engaged in the provision of end-to-end mobile media solutions. The Company offers mobile phone enabled promotions and marketing services. The Company is in the business of developing and implementing mobile marketing campaigns that enable brands and advertising agencies to find and reach customers using applications, games and social media on smartphones, tablets and other mobile devices. The Company's smart products and technology platforms enable it to deliver smartphone, tablet and cross-screen advertising campaigns. It offers a range of media products to target audiences through data, including location, content and social signals. It offers various location solutions that enable mobile geo-location campaigns delivery. Its video offering includes video formats, such as Smart In-Banner Video and Zero Load High Definition (HD) Video. The Company offers TV Sync, which is a multi-screen product to match mobile campaigns with television commercials.

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NZSNKE0001S9 NZX New Zealand

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Fiona Orford-Williams

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FY17 results and revised KOMs

Snakk Media - Broadening out the offering

Snakk Media - Loss significantly reduced to near breakeven

Snakk Media - Improved cash performance

Record - AUME momentum and a sharper focus

Actinogen Medical - Funding in place through key catalysts

Henderson Opportunities Trust - A differentiated exposure to smaller companies

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