30 March 2023

Visum Technologies PLC

("Visum," the "Company," or the "Group")

Half-Year Results

Visum Technologies PLC (AQUIS: VIS), a video technology company focussed on the global leisure market, announces its unaudited Half-Year Results for the period ended 31 December 2022. A copy of the Half-Year Results is available on the Company's website at: https://visumtechnologies.net/.

Financial Overview

•     Loss of £457,088 in the period under review with revenues of £119,930

•     Total net asset position £2,741,141 (2021: £2,998,214).

Operational overview

•     In November 2022, the company opened its first US location in partnership with DEI at the TILT 360 Chicago. 

Post period end

•     In March 2023, the Company completed a Fee Share Agreement with Terra Nova Capital Partners to provide debt financing for rides & attractions.

•     In April 2023, the Company will reopen its existing sites in Europa Park and Linnanmaki.

•     The company intends to open a second location at Europa Park in mid-summer 2023.

   Marc Dixon, Chief Executive Officer of Visum, said:

Given the challenging trading conditions and market uncertainty, the Company has been prudent with our resources and focused on securing contract wins.

Visum's recent contract with Terra Nova Capital will allow us to help current and potential clients secure financing for their rides or attractions and provide the company with another revenue stream.

The company continues to look at mergers and acquisitions to strengthen further our value proposition in the travel and leisure sector.

We will continue to update the market as these, and other developments are available.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation. The person who arranged for the release of this announcement on behalf of the Company was Marc Dixon, Chief Executive Officer of the Company, and the Directors of the Company are responsible for releasing this announcement.

Andy Edge, Chairman of Visum, said:

Having successfully listed the company in June 2022, the business worked hard to secure new installations for its video capture technology. However, given the relatively late listing in the calendar year, most of the 2022 season had passed, and new revenue stream opportunities were limited. Computer chip shortages exacerbated the short-term challenges for the business to grow its income via the core technology last season.

Over the last few months, the CEO has focused on finding new opportunities for video imaging technology, prudently managing the monthly cash run rate, and exploring new revenue streams to broaden potential income opportunities. The opportunity to offer complimentary but mutually supportive products and services offers much more scope for revenue growth in 2023 and beyond.

The IPO listing fees clearly significantly impact the net loss position in the half-year results. The board remains confident that given new opportunities that we believe exist, both within the core business and outside of it, with adequate funding, the business can grow in 2023 and beyond. Given that a large proportion of the listing costs have now been covered, we expect the financial position to improve in the next 6 months.

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About Visum Technologies PLC

Visum Technologies is an AQUIS-quoted provider of video capture technology services. The Company specialises in video solutions for the travel and leisure market. The Company has an experienced management team who have deployed systems across this sector for over 50 years of combined experience.

www.visumtechnologies.net