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Hostmore (LSE: MORE)

Last close As at 19/04/2024

20.20

▲ −0.80 (−3.81%)

Market capitalisation

GBP25m

Latest Insights

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Consumer | Update

Hostmore — Back on track

Consumer | Update

Hostmore — Ready to party

Consumer | Flash note

Hostmore — Delivering on its plans

Consumer | Initiation

Hostmore — Full menu!
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Sector

Consumer

Balance Sheet

Forecast net debt (£m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (12.2) 55.4 (36.1)
Relative (10.3) 57.4 (36.8)
52 week high/low 36.7p/12.1p

Financials

Hostmore has reassured with confirmation that, despite sector operating challenges, its like-for-like (l-f-l) revenues since 23 May are as expected in its May update, which assumed up to 8% lower l-f-l dine-in volumes on 2019 for the rest of 2022, mitigated by pricing. Organic expansion is also on track with the new 63rd+1st in Edinburgh part of five openings planned this year, while newly enhanced banking facilities reinforce a strong balance sheet. Despite the downward revision to our current year forecasts given May’s cautious update, for FY23 Friday’s rejuvenation prospects in likely improving conditions and clear growth opportunities drive our newly introduced expectation of a sharp rebound. Hostmore’s rating of 4x FY23e EV/EBITDA is low against an average of c 7x for peers.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2020A 129.1 23.5 (12.2) N/A N/A N/A
2021A 159.0 43.0 7.1 5.06 4.0 0.6
2022E N/A N/A N/A N/A N/A N/A
2023E N/A N/A N/A N/A N/A N/A

Research

Update

Consumer

Hostmore — Ready to party

Flash note

Consumer

Hostmore — Delivering on its plans

Consumer

Update

Hostmore — Back on track

Initiation

Consumer

Hostmore — Full menu!

Thematics

thematic

Consumer

ConsumerWatch – At least someone loves me

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media

thematic

Consumer

ConsumerWatch – Falling into the fall

thematic

Consumer

ConsumerWatch – Making the most of the summer
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