Despite all the challenges of COVID in the past six months, Motio has announced a very positive start to the 20-21 financial year.
In an official release to the ASX, CEO Adam Cadwallader, announced that the company had hit an underlying EBITDA of $301,177 whilst establishing the foundations to transition and scale the business in a challenging trading period.
“(It’s a) testament to a tremendous team effort – I am quietly optimistic about the outlook for our business in the second half – we are in a strong cash position, debt free and continue to be encouraged around future possibilities,” he said.
During the half, Motio undertook a successful capital raise, which ultimately strengthened our financial position and enabled investment in our business. We are now configured for growth, and we’re ready to pursue the opportunities that are emerging as the market regains confidence.
In addition, our audiences across Motio Health, Play and Go channels are continuing to strengthen as Australia builds confidence again in the advertising and media sector.
This has enabled Motio Media to continue to grow with the investment in the team well founded. Both Local and National sales are continuing to swell and programmatic revenues continue to show promise. The Software and Payments business offers an exciting addition to our future in the Motio Play business, and whilst early, customer feedback has been positive.
We are also working with our partners to ensure our transition away from the Rail sector is successful and seamless. We’re confident and on track as a business to deliver on our growth mission and diversify the business by mid-2021.
Cadwallader also noted crucial shareholder support during the half, for helping the business build on growth.
“I really want to thank our shareholders for continuing to help Motio grow,” he said.
“I am very pleased with the shareholder value that has been realised over the past 6 months,”
Our positive performance this half would not have been possible without the strong support of our Rail partners and suppliers, our team members and the Government stimulus that allowed Motio to pursue its goals and continue to deliver on its mission. We thank all involved for your ongoing support, and hope to share more positive news in a few months time.
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