EMIS is a software supplier with two divisions. EMIS Health supplies integrated care technology to the NHS, including primary, community, acute and social care. EMIS Enterprise is a B2B software provider to the UK healthcare market, including medicines management, partner businesses, patient-facing services and analytics.
More EMIS Group content >Investment summary
EMIS reported H121 results ahead of board expectations and is on track to meet the company’s FY21 expectations. H121 revenue increased 7% y-o-y and adjusted operating profit grew 13% y-o-y. EMIS closed H121 with net cash of £48m and announced an interim dividend of 17.6p, up 10% y-o-y and ahead of our 17p forecast. After a period of investment to develop the EMIS-X platform, and at least a year of diverting resource to support customers’ COVID-19 efforts, EMIS is now in a position to execute its growth strategy. Our revenue and adjusted operating profit forecasts are unchanged, with revenue growth accelerating to the lower end of the targeted medium-term 5–9% range from FY22.
Y/E Dec |
Revenue (£m) |
EBITDA (£m) |
PBT (£m) |
EPS (fd) (p) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2019A | 159.5 | 55.6 | 41.0 | 53.5 | 25.9 | 17.4 |
| 2020A | 159.5 | 53.5 | 43.4 | 56.4 | 24.6 | 13.6 |
| 2021E | 164.1 | 52.9 | 42.2 | 53.7 | 25.8 | 19.1 |
| 2022E | 172.7 | 59.2 | 46.7 | 59.5 | 23.3 | 14.4 |
Industry outlook
EMIS is the leading software supplier to the UK GP market, with a greater than 50% market share. It has a strong position in community pharmacies, community health, A&E and hospital pharmacies. The EMIS-X platform is being developed to promote greater interoperability between NHS departments, in line with the NHS Long Term Strategy.
Last updated on 20/10/2021Content on EMIS Group
Sector |
|---|
|
TMT
Access more TMT content
|
Share price graph
Balance sheet |
|
|---|---|
| Forecast net cash (£m) | 55.3 |
| Forecast gearing ratio (%) | N/A |
Price performance
% |
1m |
3m |
12m |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||||||
| *% relative to local index | |||||||||||||||
Key management |
|
|---|---|
| Andy Thorburn | CEO |
| Peter Southby | CFO |
You may also be interested in…
- 1Spatial
- 4imprint Group
- 7digital Group
- Allied Minds
- Applied Graphene Materials
- appScatter
- Bigblu Broadband
- Blancco Technology Group
- Bloc Ventures
- Boku
- Brady
- Carclo
- Centaur Media
- CentralNic Group
- discoverIE Group
- Ebiquity
- Entertainment One
- eServGlobal
- Euromoney Institutional Investor
- Filtronic
- Future
- GB Group
- GVC Holdings
- IQE
- Keywords Studios
- Mercia Asset Management
- Mirriad Advertising
- Nanoco Group
- OnTheMarket
- Osirium Technologies
- SCISYS Group
- StatPro Group
- The MISSION Group
- Trackwise Designs
- WANdisco
- XP Power
- YouGov