Company Update Including Two New Contract Wins
Sydney, July 14, 2015 AEST (ABN Newswire) - Leading big data solutions company Invigor Group Limited (
ASX:IVO) ("Invigor") provides the following update on business performance and preliminary financial results.
Highlights:
- Two additional contract wins for Insights Retail with major international brands
- Preferred supplier with major distribution group
- Insights Retail pipeline continues growing with major brands, retailers and distributors
- Insights Visitor pipeline growing strongly with potential deals with major retailers, shopping centres, convention centres and local government
- Shopping Ninja - more than 3,000 downloads since June launch
- Preliminary results for half year ended 30 June 2015 - $3.4m revenue, $100K EBITDA
- Revised full year guidance
Insights Retail
Invigor has secured two new major contract commitments with international brands for Insights Retail. This follows recent contract wins in the consumer electronics and alcoholic beverage sectors. Invigor is also expecting an imminent deal with a major distribution group and a subsequent announcement will be made in due course. The combined annualised revenue from these customers is more than $500,000. The pipeline of customers continues to build for Insights Retail with over 20 brands, retailers and distributors.
Insights Visitor
The Company's Mobile & Consumer Analytics division has progressed substantially with its Insights Visitor platform. Recently announced partnerships with Cisco and Ruckus Wireless together with an imminent partnership with HP's Aruba Networks have placed the product as compatible with over 75% of the Wi-Fi hardware market. Integration with additional data sets and sensors is seeing Insights Visitor positioned as the premier analytics platform.
Insights Visitor was the subject of a keynote speech by Group Director Daniel Sekers at the Australian Smart Communities Association national summit. The platform was highlighted at the forefront of its field of providing in-depth analytics and value creation for bricks and mortar businesses. This was on the back of the recent announcement of Insights Visitor's deployment to Sunshine Coast Council where Invigor is demonstrating the application of data analytics within the Council's place making activities.
Currently the Company is working on several projects considered highly prospective in the areas of retail, hotels and restaurants, hospitality, tourism, events and local government. The potential annualised value of these deals is in excess of $2.0m.
Shopping Ninja
Following the June launch of Invigor's first consumer product Shopping Ninja, the personalised online shopping assistant has achieved more than 3,000 downloads with over 15,000 visitors to the website.
Shopping Ninja has been featured in Channel 7 and Channel 9 news programs recently and continues to sign up retailers with Invigor earning commission for the sales assisted by the platform.
Preliminary results for the half year ended 30 June 2015
Invigor expects to report revenue of approximately $3.4m and EBITDA of $100,000 for the half year ended 30 June 2015. These results remain subject to finalising the 30 June 2015 half year financial report, including finalisation of a review of asset carrying values, and completion of the review by the Company's auditor. The final half year results will be released in late August 2015.
Guidance
Whilst the Company has now seen a significant increase in the uptake of its products and is growing strongly, as can be seen from above the pipeline of opportunities, the delays experienced in bringing the products to market will result in lower revenue for FY15. We now expect revenue to be in the range of $6.0 to $7.0m with EBITDA forecast to be in the range of $0.5m to $1.0m for the year ending 31 December 2015.
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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