Trading Update

4 February 2020

SEC Newgate S.p.A.

("SEC Newgate" or the "Group")

Trading Update

SEC Newgate (AIM: SECG), the international communications, advocacy and research group, today provides an update on Group trading for the year ended 31 December 2019, based on year-end preliminary figures.

Following the merger of SEC S.p.A. and Porta Communications Plc, which completed in September 2019, SEC Newgate expects to report results for the combined Group in line with management expectations, with consolidated total turnover in excess of Euro 47 million (unaudited), consolidated unadjusted Operating Profit of c. Euro 2.3 million (unaudited) and consolidated unadjusted Profit Before Tax of c. Euro 1.6 million (unaudited and subject to year-end adjustments). Consolidated Net Debt at 31 December 2019 was c. Euro 9.0 million (unaudited and excluding the impact of IFRS 16 adjustments).

Fiorenzo Tagliabue, Group CEO of SEC Newgate, commented:

"The unaudited consolidated figures reflect the significant progress we have made since the merger in September 2019.  Our three-year Strategic Plan is being implemented, an example of which was our replacement €3 million banking facility secured with Deutsche Bank S.p.A., on preferable terms with no security or covenants, reflecting the improved financial stability of the Group. 

"Our agile teams are now working together across the communications spectrum building and protecting brands, reputations and business.  We are committed to creating positive change for our people, clients and shareholders and have had a strong start to the new financial year."

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

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Further information:

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Notes to Editors

·           Further information is available at www.secnewgate.com 

·           On 3 September 2019, SEC S.p.A. and Porta Communications Plc merged to create SEC Newgate S.p.A.

The Group's principal brands are:  ACH SEC Global (Spain); Cambre Associates (Belgium); Cambre Maroc (Morocco); Clai (France); Kohl PR (Germany); Martis Consulting (Poland); SEC Latam (Colombia); Newgate Communications (Abu Dhabi, Australia, Greater China, Singapore, UK); Newington (UK); Publicasity (UK); SEC Newgate S.p.A. (Italy); and 2112 (UK).