Centaur Media is an international provider of business information, training and specialist consultancy. Its Xeim and The Lawyer business units serve the marketing and legal sectors respectively and offer customers a wide range of products and services to help them add value by raising standards for insight, interaction and impact.
More Centaur Media content >Investment summary
Centaur is making good progress towards management’s MAP23 goals for FY23 revenues of £45m and adjusted EBITDA margins of 23%, both of which should be achieved under our modelled scenario, despite potential headwinds of rising costs. Iterative improvements in the client offering and a greater emphasis on cross-selling underpin the forecast top-line growth, funded from the cash-positive balance sheet. A group-wide data strategy is now being implemented to support scaling of the operations beyond the MAP23 horizon. The group now has an additional non-executive director, Richard Staveley, who is an advisor to Harwood Capital (23.8% shareholding) and a fund manager at Rockwood (5.9%). The valuation remains at a marked discount to peers.
Y/E Dec |
Revenue (£m) |
EBITDA (£m) |
PBT (£m) |
EPS (fd) (p) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2020A | 32.4 | 3.8 | (0.3) | 0.2 | 232.5 | 31.9 |
| 2021A | 39.1 | 6.4 | 3.0 | 1.9 | 24.5 | 7.1 |
| 2022E | 43.9 | 8.1 | 4.5 | 2.4 | 19.4 | 9.8 |
| 2023E | 47.0 | 10.8 | 7.0 | 3.4 | 13.7 | 7.1 |
Industry outlook
Disruption to the marketing sector is providing a fertile backdrop for demand for B2B market intelligence. With a greater propensity for clients to adopt digital solutions, those clients’ digital skill sets need constant enhancement, a process that may be accelerated in the face of a softening economy. The need for comprehensive and timely market intelligence should also support demand at The Lawyer, with further growth opportunities particularly with in-house corporate lawyers.
Last updated on 23/06/2022Content on Centaur Media
Sector |
|---|
|
TMT
Access more TMT content
|
Share price graph
Balance sheet |
|
|---|---|
| Forecast net cash (£m) | 15.2 |
| Forecast gearing ratio (%) | N/A |
Price performance
% |
1m |
3m |
12m |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||||||
| *% relative to local index | |||||||||||||||
Key management |
|
|---|---|
| Colin Jones | Chairman |
| Mukerji, Swagatam | CEO |
| Longfield, Simon | CFO |