LBG Media (LBG) Trading update summary

Financial performance

• Revenue grew 13% to £43.9m in H1 25, with adjusted EBITDA up 16% to £12.2m.

• Net cash and cash equivalents rose to £32.9m, with strong cash conversion over 100%.

• Direct revenue (content and campaigns for brands) increased by 8%.

• Indirect revenue (ad placements with partners/platforms) increased by 17%.

Strategic and operational highlights

• US expansion delivered significant wins, including the first US client exceeding $1m.

• Global audience reached 520m, up from 494m in H1 24.

• The business model is diversified, targeting young adults through multiple brands and platforms.

• Engagement remains central, with content distributed across major social platforms and owned sites.

Outlook and guidance

• Board expects FY25 revenue to increase by approximately 10%, maintaining previous guidance.

• Confidence is supported by US momentum, a healthy pipeline, and strong audience engagement.

• Half-year results will be announced on 24 June 2025.