Interim Results for the Six Month to 30 June 2026

Aeorema Communications Plc

22 September 2026

Aeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media

22 September 2026

Aeorema Communications plc

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

Interim Results for the Six Months Ended 30 June 2026

Record Half Year Profit and Record Revenue and Profit Expected for FY2026

Aeorema Communications plc (AIM: AEO), a leading strategic communications group, is pleased to announce its unaudited interim results for the six months ended 30 June 2026 ("6M 2026" or the "Period"), which include record profit for a six-month period with record revenue and profit expected for the full year.

Profit before tax, excluding non-trading foreign exchange gains and losses, increased 200% to £1.5 million for the Period (6M 2025: £0.5 million), the highest profit achieved by the Group in any six-month period since its admission to AIM in 2002.

Figures for the six months ended 30 June 2025 ("6M 2025") are presented for comparative purposes. On 26 March 2025, the Company announced that it would be changing its year end from 30 June to 31 December and accordingly would be extending the year ending 30 June 2025 to an 18-month period running from 1 July 2024 to 31 December 2025. The Company subsequently announced unaudited interim results for the 12 months ended 30 June 2025 and audited results for the 18-month period ended 31 December 2025.

Financial Highlights

•	Revenue increased by 32.5% to £17.5 million (6M 2025: £13.2 million)
•	Profit before tax, excluding non-trading foreign exchange gains and losses, increased by 200% to £1.5 million (6M 2025: £0.5 million)
•	Reported profit before taxation of £1.5 million (6M 2025: £0.5 million)
•	Strong cash position with £4.8 million at 30 June 2026 (30 June 2025: £3.1 million)
•	Average cash balance during the 12 months ended 30 June 2026 of £3.1 million (12 months ended 30 June 2025: £2.1 million)
•	Benefits of the restructuring and operational changes undertaken during 2025 clearly reflected in the significant improvement in profitability

Operational Highlights

•	Record-breaking Cannes Lions 2026, delivering 17 activations and record contracted Cannes-related revenue
•	Landmark three-year contract secured to deliver Climate Week NYC in 2026, 2027 and 2028, strengthening medium-term revenue visibility and reinforcing the Group's position in large-scale global event delivery
•	Continued expansion of year-round client partnerships, including first activations at SXSW in Austin and POSSIBLE Miami
•	Growing contribution from North America, supporting deeper relationships with major global brands and creating additional opportunities across the international events calendar
•	Cheerful Twentyfirst named Experiential Agency of the Year at the 2026 Conference News Agency Awards and Creative Team of the Year for the seventh time

Post Period End

•	1 pence per share final dividend in respect of the 18 months ended 31 December 2025 paid on 10 July 2026
•	New share buyback programme launched on 13 August 2026, reflecting the Board's confidence in the Group's financial position and future prospects
	o  A total of 65,000 ordinary shares acquired under the programme to date at an average price of 64 pence per share
•	Cash balances of £2.9 million as at the date of this announcement

Outlook

•	Further to the upgrade announced on 15 September 2026, positive developments across a number of projects, including increasing project scope, have resulted in a further improvement in the Group's expectations for FY2026. The Board now expects revenue to be no less than £23.0 million (previous guidance of no less than £22.6 million) and profit before tax, excluding non-trading foreign exchange gains and losses, to be no less than £1.06 million (previous guidance of no less than £1.0 million). On this basis, FY2026 is expected to deliver record annual revenue and profit for the Group
•	Advanced planning and activation discussions for Cannes Lions 2027, together with a growing pipeline of opportunities across the wider global events calendar, are providing encouraging visibility into the next financial year
•	With a more efficient operating model, strong balance sheet and continued opportunities to deepen relationships with leading global brands, the Board remains confident in the Group's prospects for FY2026 and beyond
•	Board currently intends, subject to full-year performance and financial position, to recommend a final dividend for FY2026; no interim dividend declared in respect of the Period

Chairman's Statement

I am pleased to present Aeorema's interim results for the six months ended 30 June 2026, a period in which the Group delivered record half-year profit alongside strong revenue growth.

Revenue increased by 32.5% to £17.5 million (6M 2025: £13.2 million), while profit before tax, excluding non-trading foreign exchange gains and losses, increased by 200% to £1.5 million (6M 2025: £0.5 million), the highest profit achieved by the Group in any six-month period since its admission to AIM in 2002. This represents a significant milestone for the Group and demonstrates the significant progress made over the past 12 months.

During 2025, we undertook a substantial cost reduction and rebalancing programme designed to create a leaner, more senior-weighted and efficient operating model. I am pleased to say that the benefits of those changes are now clearly being reflected in the Group's financial performance and its ability to convert revenue growth into significantly improved profitability.

Our cash position also remains strong, with a balance of £4.8 million at 30 June 2026 (30 June 2025: £3.1 million) and an average cash balance over the 12 months ended 30 June 2026 of £3.1 million (12 months ended 30 June 2025: £2.1 million). This financial strength provides the Group with the flexibility to continue investing in growth while maintaining our commitment to delivering appropriate returns to shareholders.

The Board has not declared an interim dividend in respect of the Period but remains committed to shareholder returns and, subject to the Group's full-year performance and financial position, currently intends to recommend a final dividend in respect of the year ending 31 December 2026.

Alongside this, during the Period, the Company acquired and subsequently cancelled 257,500 ordinary shares under its previous share buyback programme. Following the Period end, on 13 August 2026, the Company launched a new share buyback programme. Since the launch of the programme, the Company has acquired 65,000 ordinary shares at an average price of 64 pence per share. The programme reflects the Board's confidence in the Group's financial strength and future prospects and its view that, where appropriate, share purchases can represent an attractive means of delivering value to continuing shareholders.

Operationally, Cannes Lions was again a particular highlight. The Group delivered its biggest Cannes Lions to date in June, building on the record level of contracted client activity announced earlier in the year. Importantly, advanced planning and activation discussions for Cannes Lions 2027 are already taking place, providing encouraging early visibility for next year's event.

The strategic importance of Cannes extends well beyond the event itself. The relationships we develop and deepen there are increasingly providing a platform from which to work with clients throughout the year and across the wider global events calendar.

Our first activations at SXSW in Austin and POSSIBLE Miami during the Period are good examples of this strategy in action. These projects demonstrate our ability to broaden established client relationships into other major events, creating additional opportunities and supporting deeper, longer-term partnerships.

The strength of our position in North America was further demonstrated in June by the award of a three-year contract to deliver Climate Week NYC in 2026, 2027 and 2028. The contract strengthens medium-term revenue visibility and reflects the Group's growing credentials in delivering major international events for leading organisations.

North America continues to be an important contributor to the Group's growth. Many of the major global brands with which we work are based there, and our established presence in the region provides us with proximity to key decision makers and an important platform from which to deepen those relationships.

While North America is an important growth market, our ambitions remain global. We continue to see opportunities to grow both existing and new client relationships around the world, while retaining the creativity and agility that differentiate Aeorema from many larger agencies.

That differentiation was recognised during the Period, with Cheerful Twentyfirst named Experiential Agency of the Year at the 2026 Conference News Agency Awards and Creative Team of the Year for the seventh time. These awards reflect the quality and consistency of the work being delivered by the team and our ability to compete successfully with much larger international agencies.

Alongside this operational progress, the Group is increasingly focused on larger, more complex and strategically important engagements, while operating with a leaner and more efficient cost base. We believe this combination provides a stronger platform from which to convert high-quality revenue into sustainable earnings growth.

Looking to the rest of the year, investors should note the unusual weighting of trading during FY2026. As previously highlighted, the Group's revenue has historically followed an approximate 60:40 H1/H2 split, whereas FY2026 is expected to be significantly more weighted towards the first half. This reflects the record performance at Cannes Lions together with the timing of a small number of major, long-standing events that take place on a biennial basis. In FY2026, a greater proportion of these events took place during the first half, whereas in the prior year they were more heavily concentrated in the second half. Accordingly, the exceptional level of profitability achieved during the first half should not be extrapolated directly across the full year.

Notwithstanding this weighting, trading remains robust, client engagement continues to be strong, and we are seeing encouraging opportunities across our core markets and the wider global events calendar.

Against this backdrop, the outlook for the full year has continued to strengthen. Further to the material upgrade in expectations announced on 15 September 2026, positive developments across a number of live projects, including increases in project scope, have led the Board to further increase its expectations for the year ending 31 December 2026. Revenue is now expected to be no less than £23.0 million (previous guidance of no less than £22.6 million), while profit before tax, excluding non-trading foreign exchange gains and losses, is expected to be no less than £1.06 million (previous guidance of no less than £1.0 million). On the basis of these expectations, FY2026 is now expected to deliver both record annual revenue and record annual profit for the Group..

Looking further ahead, the early level of engagement around Cannes Lions 2027, together with continued opportunities to broaden client relationships across the international events calendar, provides encouraging visibility beyond the current financial year.

With a more efficient operating model, a strong balance sheet, deepening relationships with leading global brands and a growing portfolio of opportunities around the world, the Board believes Aeorema is well positioned to deliver sustainable, profitable growth.

On behalf of the Board, I would like to thank our teams across the Group for their continued hard work and creativity, our clients for their trust and our shareholders for their ongoing support.

Mike Hale

Chairman

22 September 2026

AEOREMA COMMUNICATIONS PLC

CONDENSED CONSOLIDATED INCOME STATEMENT

For the period ended 30 June 2026

		Unaudited 6 Months to 30 June  2026	Unaudited 6 Months to 30 June  2025	Audited 18 Months to 31 December 2025
	Notes	£	£	£
Continuing Operations
Revenue		17,543,792	13,206,029	29,466,709
Cost of sales		(14,483,942)	(11,150,480)	(24,611,722)
Gross profit		3,059,850	2,055,549	4,854,987
Administrative expenses		(1,570,410)	(1,588,120)	(4,454,732)
Operating profit / (loss)		1,489,440	467,429	400,255
Finance income		29,387	31,670	77,878
Finance costs		(10,264)	(13,962)	(41,173)
Profit / (loss) before taxation, loss on liquidation and non-trading foreign exchange (losses) / gains		1,508,563	485,137	436,960
Non-trading foreign exchange (losses) / gains		(38,848)	-	(250,949)
Loss on liquidation		-	-	(15,830)
Profit before taxation		1,469,715	485,137	170,181
Taxation	4	(452,451)	(140,888)	12,021
Profit / (loss) for the period from continuing operations		1,017,264	344,249	182,202
Other comprehensive income
Items that may be reclassified to profit or loss
Exchange differences on translation of foreign entities		3,764	(178,324)	88,549
Other comprehensive income for the period		3,764	(178,324)	88,549
Total comprehensive income for the period after taxation		1,021,028	165,925	270,751
Basic and diluted earnings per share from continuing operations
Basic (pence)	5	10.64	3.55	1.89
Diluted (pence)	5	9.96	3.39	1.86

AEOREMA COMMUNICATIONS PLC

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

For the period ended 30 June 2026

	Unaudited As at 30 June  2026	Unaudited As at  30 June  2025	Audited As at 31 December 2025
	£	£	£
Non-current assets
Intangible assets	564,348	564,348	564,348
Property, plant and equipment	306,303	351,546	371,514
Right-to-use assets	316,574	443,378	379,976
Deferred taxation	-	-	38,809
	1,187,225	1,359,272	1,354,647
Current assets
Trade and other receivables	4,187,164	6,288,111	4,611,885
Corporation tax receivable	96,295	81,189	-
Cash and cash equivalents	4,774,910	3,101,576	2,189,580
	9,058,369	9,470,876	6,801,465
Total assets	10,245,594	10,830,148	8,156,112
Current liabilities
Trade and other payables	5,876,023	7,359,907	5,011,960
Lease liabilities	125,786	119,661	122,679
Current tax payable	-	-	26,251
Provisions	-	35,000	-
	6,001,809	7,514,568	5,160,890
Non-current liabilities
Lease liabilities	255,212	381,091	319,055
Provisions	49,284	31,500	40,392
Deferred taxation	413,642	185,735	-
	718,138	598,326	359,447
Total liabilities	6,719,947	8,112,894	5,520,337
Net assets	3,525,647	2,717,254	2,635,775
Equity attributable to equity holder:
Share capital	1,179,438	1,211,625	1,211,625
Share premium	47,451	47,451	47,451
Merger reserve	16,650	16,650	16,650
Other reserve	431,600	350,038	398,738
Capital redemption reserve	289,999	257,812	257,812
Foreign translation reserve	(84,563)	(304,855)	(88,327)
Retained earnings	1,645,072	1,138,533	791,826
Total equity	3,525,647	2,717,254	2,635,775

AEOREMA COMMUNICATIONS PLC

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the period ended 30 June 2026

	Share capital		Share premium	Merger reserve	Other reserve	Capital redemption reserve	Foreign translation reserve	Retained earnings	Total equity
	£		£	£	£	£	£	£	£
At 1 January 2025	1,211,625		47,451	16,650	307,758	257,812	(126,531)	1,085,074	2,799,839
Comprehensive income for the period	-		-	-	-	-	-	344,249	344,249
Dividend paid								(290,790)	(290,790)
Foreign currency translation	-		-	-	-	-	(178,324)	-	(178,324)
Share-based payments	-		-	-	42,280	-	-	-	42,280
At 30 June 2025	1,211,625		47,451	16,650	350,038	257,812	(304,855)	1,138,533	2,717,254
Comprehensive income for the period	-		-	-	-	-	-	(55,917)	(55,917)
Dividend paid								(290,790)	(290,790)
Foreign currency translation	-		-	-	-	-	216,528	-	216,528
Share-based payments	-		-	-	48,700	-	-	-	48,700
At 31 December 2025	1,211,625		47,451	16,650	398,738	257,812	(88,327)	791,826	2,635,775
Comprehensive income for the period	-		-	-	-	-	-	1,017,264	1,017,264
Foreign currency translation	-		-	-	-	-	3,764	-	3,764
Share-based payments	-		-	-	32,862	-	-	-	32,862
Share buyback and cancellation	(32,187)		-	-	-	32,187	-	(164,018)	(164,018)
At 30 June 2026	1,179,438		47,451	16,650	431,600	289,999	(84,563)	1,645,072	3,525,647

AEOREMA COMMUNICATIONS PLC

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

For the period ended 30 June 2026

		Unaudited 6 Months to 30 June  2026	Unaudited 6 Months to 30 June  2025	Audited 18 Months to 31 December 2025
		£	£	£
Cash flow from operating activities
Profit before taxation		1,469,715	485,137	170,181
Adjustments for:
Depreciation of property, plant and equipment		76,882	65,838	194,693
Depreciation of right-of-use assets		63,402	63,402	190,206
Loss on disposal of fixed assets		-	-	2,621
Share-based payment		32,862	42,280	95,929
Interest on lease liabilities		10,264	13,962	40,719
Finance income		(29,387)	(31,670)	(77,878)
Exchange rate differences on translation		3,764	(178,325)	88,549
Operating cash flow before movement in working capital		1,627,502	460,624	705,020
Increase / (decrease) in trade and other payables		872,955	2,396,116	(376,196)
Decrease / (increase) in trade and other receivables		424,721	58,759	(189,866)
Cash generated / (used in) from operating activities		2,925,178	2,915,499	138,958
Taxation paid		(122,546)	(183,469)	(145,200)
Cash flow from investing activities
Finance income		29,387	31,670	77,878
Purchase of property, plant and equipment		(11,671)	(56,147)	(224,001)
Repayment of leasing liabilities		(71,000)	(71,000)	(213,000)
Net cash used in investing activities		(53,284)	(95,477)	(359,123)
Cash flow from financing activities
Shares issued		-	-	44,950
Dividends paid to owners of the company		-	(290,790)	(581,580)
Repayment of borrowings		-	-	(27,778)
Share buyback		(164,018)	-	-
Net cash used in financing activities		(164,018)	(290,790)	(564,408)
Net increase / (decrease) in cash and cash equivalents		2,585,330	2,345,763	(929,773)
Cash and cash equivalents at beginning of period		2,189,580	755,813	3,119,353
Cash and cash equivalents at end of period		4,774,910	3,101,576	2,189,580

AEOREMA COMMUNICATIONS PLC

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the period ended 30 June 2026

1.    General information

Aeorema Communications plc is a public limited company incorporated within the United Kingdom. The company is domiciled in the United Kingdom and its principal place of business is 87 New Cavendish Street, London, W1W 6XD. The Company's ordinary shares are traded on the AIM market of the London Stock Exchange.

These condensed consolidated unaudited interim financial statements for the 6 month period ending 30 June 2026 (including comparatives for the unaudited 6 month period ended 30 June 2025 and audited 18 month period ended 31 December 2025) were approved by the board of directors on 22 September 2026.

The financial information set out in this interim report does not constitute statutory accounts for the purposes of section 434 of the Companies Act (2006). The Group's statutory financial statements for the 18 month period ended 31 December 2025, prepared under International Financial Reporting Standards (IFRS), have been filed with the Registrar of Companies. The auditor's report for those financial statements was unqualified and did not contain a statement under section 498 (2) or section 498 (3) of the Companies Act (2006).

The interim financial statements have been prepared using the accounting policies set out in the Group's 2025 statutory accounts and have not been audited.

Copies of the annual statutory financial statements and the interim report can be found on our website at www.aeorema.com.

2.    Basis of preparation

These condensed consolidated interim financial statements for the 6 month period ended 30 June 2026 have been prepared in accordance with IAS 34, 'Interim Financial Reporting' as adopted by the United Kingdom. The interim condensed consolidated financial statements should be read in conjunction with the annual financial statements for the 18 month period ended 31 December 2025, which have been prepared in accordance with IFRS as adopted by the United Kingdom.

3.    Revenue and segmental results

The Company uses several factors in identifying and analysing reportable segments, including the basis of organisation such as differences in products and geographical areas. The Board of Directors, being the chief operating decision makers, has determined that for the 6 month period ended 30 June 2026 there is only one reportable operating segment.

4.    Income tax charge

Income period tax is accrued based on the estimated average annual effective income tax rate of 25 per cent (2025: 25 per cent).

5.    Earnings per share

Basic earnings per share is calculated by dividing the profit attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year.

Diluted earnings per share are calculated by dividing the profit attributable to ordinary owners of the parent by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would have been issued on the conversion of all dilutive potential ordinary shares into ordinary shares.

The following reflects the income and share data used and dilutive earnings per share computations:

	Unaudited 6 Months to 30 June  2026	Unaudited 6 Months to 30 June  2025	Audited 18 Months to 31 December 2025
Profit / (loss) for the year attributable to owners of the Company	1,017,264	£344,249	£182,202
Number of shares
Basic weighted average number of shares	9,564,250	9,693,000	9,649,944
Effect of dilutive share options	648,940	470,814	144,278
Diluted weighted average number of shares	10,213,190	10,163,814	9,794,222

6.    Dividends

During the interim period no dividend was declared or paid to holders of the Company's ordinary shares.

During the 6 month period ended 30 June 2025 a final dividend of 3 pence per share was paid in respect of the year ended 30 June 2024.

An interim dividend of 3 pence per share in respect of the 12 month period ended 30 June 2025 was declared and paid in November 2025.

7.    Share Capital and Reserves

During the 6 month period ended 30 June 2026, the Company purchased and cancelled 257,500 ordinary shares of 12.5p each.

The shares were acquired at an average price of 65 pence per share, for a total cash consideration of £164,018 before transaction costs.

Following the cancellation of these shares, the Company's issued share capital as at 30 June 2026 consisted of 9,435,500 ordinary shares of 12.5p each, representing a total nominal share capital value of £1,179,438.

8.    Related party transactions

The Group has a related party relationship with its subsidiaries and its directors. Transactions between Group companies, which are related parties, have been eliminated on consolidation and are therefore not included in these consolidated interim financial statements.

	Unaudited As at 30 June  2026	Unaudited As at 30 June  2025	Audited As at 31 December 2025
	£	£	£
Subsidiaries
Amounts owed by/(to) subsidiaries	588,199	747,404	573,382
Amounts owed by/(to) subsidiaries	588,199	747,404	573,382

The compensation of key management (including directors) of the Group is as follows:

	Unaudited 6 Months to 30 June  2026	Unaudited 6 Months to 30 June  2025	Audited 18 Months to 31 December 2025
	£	£	£
Short-term employee benefits	231,831	220,784	644,711
Post-employment benefits	9,000	9,000	27,000
	240,831	229,784	671,711

For further information visit www.aeorema.com or contact:

Aeorema Communications plc Andrew Harvey	Tel: +44 (0) 20 7291 0444
Allenby Capital Limited (Nominated Advisor and Broker)
John Depasquale / Liz Kirchner (Corporate Finance) Kelly Gardiner / Joscelin Pinnington / Lauren Wright (Sales and Corporate Broking)	Tel: +44 (0) 20 3328 5656
Redbine Ltd (Financial PR) Paul Dulieu	aeorema@redbine.co.uk

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