Company profile - EDEL feature image - 02072019 - JPG

Edel

DB: EDL

€43m market cap

€1.89 last close

Edel AG is one of Europe’s leading independent media groups. It is both a publisher and a producer. Edel offers the music, film and book industry a unique full-service model, covering marketing and production as well as the distribution of audio content, video content and books.

Investment summary

Edel’s H119 results to March showed a modest improvement in revenues, which were up 2% on the prior period, and a broadly stable EBITDA and margin. Increased depreciation impacts further down the income statement. Management has been passed down a generation to Jonas Haentjes, post Edel’s transition to a partnership limited by shares (the founding family retains its 64% stake). The shares trade at a substantial discount to global entertainment content and publishing stocks, partly due to the limited market liquidity.

Sector
TMT
Share price graph
Price performance
%
1m
3m
12m
Actual 10.5 14.5 (30.0)
Relative* 10.5 4.8 (39.6)
52-week high/low €2.8/€1.6
*% relative to local index
Key management
Timo Steinberg CFO/COO