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ME Group - Revolution rollout set to climb from 180 to 250 machines a month

January 2024

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  • Epic Code:
  • MEGP
  • Price:
  • 127p
MEGP’s update for FY23 confirmed strong H2 trading in its Photobooth and Laundry operations and it expects to hit the top end of its full-year guidance. Sales are “not less than £298m” (+15% year on year), EBITDA is “significantly above £100m” (+19%) and pretax profit is “no less than £67m”  (+46%). Best of all is an acceleration in roll-out rates. Wash.ME’s installation rate grew to 180 by the period end and looks set to climb to 250 per month next year. Meanwhile, 547 next-generation multi-service photobooths were installed to date in France with new features including ‘Mobile to Print,’ user personalisation services using AI and photo filters with more features expected shortly.   Clearly the wind is back in its sails af ...

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