Aferian plc has reported significant growth momentum in the second half of 2024, with revenue expected to be approximately 20% higher compared to the first half of the year.
This growth has been driven by new business wins and increased sales orders, primarily fueled by growing market demand for enhanced video streaming experiences across multiple sectors.
“We are encouraged by the strong performance in the second half of the year, with increased sales orders and new business wins across the Group. Combined with our cost reduction efforts and improved cash flow, we are well-positioned to close the year on a positive note and drive sustained growth into the future,” said Mark Carlisle, CEO of Aferian plc.
The company’s improved performance in H2 has translated into positive financial metrics, with adjusted EBITDA expected to reach approximately $2 million. This improvement reflects both the revenue growth and the successful implementation of cost reduction measures initiated earlier in the year.
Looking at the bigger picture, Aferian’s strategic focus on meeting consumer demand for improved video streaming solutions continues to drive business expansion. The company anticipates a reduction in net debt by year-end, supported by realized cost savings and enhanced working capital management, which have contributed to improved free cash flow generation in the second half of the year.