The MISSION Group

LN: TMG

Market Cap£56m

Last Close 62p

The MISSION Group is a collective of integrated and specialist creative agencies, employing 1,150 people in the UK, Europe, Asia and the US.

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Investment summary

After a particularly strong Q421, The MISSION Group’s FY21 results were ahead of market forecasts, with revenue up by 18% (17% organic) and operating margins at 11.1%, from 3.1% in FY20 – substantial progress towards management’s 14% target. The £6.7m of outstanding acquisition payments were met in FY21, with year-end obligations reduced to £3.3m. Net debt of £10.3m is comfortably within leverage targets, giving flexibility to invest further to drive growth. A recommended final dividend of 1.6p means a total payment 4% up on FY19’s 2.3p, indicating management’s confidence in FY22 prospects.

Y/E Dec
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2020A 61.5 3.1 1.2 1.0 62.0 4.8
2021A 72.5 9.1 7.5 6.5 9.5 9.8
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
Content on The MISSION Group
The Mission Group – Making the work count
TMT | research QuickView | 29 March 2022
The Mission Group – Investing in talent
TMT | research QuickView | 19 January 2022
The MISSION Group – executive interview
TMT | Edison TV | 22 November 2021
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Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (1.6) 0.8 (27.1)
Relative* 2.1 3.6 (28.5)
52-week high/low 86.5p/46.0p
*% relative to local index
Key management
James Clifton CEO
Peter Fitzwilliam CFO