GEAR4MUSIC (HOLDINGS) PLC

Earnings Release • Sep 6, 2024

National Storage Mechanism | Additional information

RNS Number : 1351D

Gear4music (Holdings) PLC

06 September 2024

6 September 2024

Gear4music (Holdings) plc

AGM Statement and Trading Update

Gear4music (Holdings) plc, ('Gear4music' or 'the Group') (LSE: G4M), the UK's largest retailer of musical instruments and music equipment, will hold its Annual General Meeting at 10.30am today.

At the meeting Gear4music's Executive Chair, Andrew Wass, will make the following statement:

"We are pleased to report that trading during the financial year to date has been in line with the Board's expectations.

Having successfully reduced our net debt and operating costs during FY24, during the early stages of FY25 we have focused on implementing the growth strategy outlined in June and expect this to start delivering results in the second half of this year.

We are well prepared operationally for the upcoming seasonal peak trading period, and the Board remains confident of the delivery of our medium and longer-term profitable growth strategy.

The Group intends to release a trading update for the six-month period ending 30 September 2024 on 22 October 2024, followed by half year results on 19 November 2024."

* Gear4music believes that consensus market expectations for the year ending 31 March 2025 prior to release of this announcement were revenues of £154.7 million, EBITDA of £11.7 million and PBT of £2.8 million.

ENDS

Enquiries:

Gear4music Andrew Wass, Executive Chair Gareth Bevan, Chief Executive Officer Chris Scott, Chief Financial Officer	+44 (0)20 3405 0205
Singer Capital Markets - Nominated Adviser and Sole Broker Peter Steel/Sam Butcher, Corporate Finance Tom Salvesen, Corporate Broking	+44 (0)20 7496 3000
Alma Strategic Communications - Financial PR Rebecca Sanders-Hewett Joe Pederzolli David Ison	+44 (0)20 3405 0205 Gear4music@almastrategic.com

About Gear4music (Holdings) plc

Operating from a Head Office in York, Distribution Centres in York, Bacup, Sweden, Germany, Ireland & Spain, and showrooms in York, Bacup, Sweden & Germany, the Group sells own-brand musical instruments and music equipment alongside premium third-party brands including Fender, Yamaha and Roland, to customers ranging from beginners to musical enthusiasts and professionals, in the UK, Europe and the Rest of the World.

Having developed its own e-commerce platform, with multilingual, multicurrency websites delivering to over 190 countries, the Group continues to build its overseas presence.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

AGMQKPBPPBKDBCK