Centaur Media (LSE: CAU)

Currency in GBP

Last close As at 04/12/2023


0.00 (0.00%)

Market capitalisation


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 targeted at helping them add value.

Management’s MAP23 margin target was set against a very different macroeconomic backdrop. That it still looks to be in reach is testament to the degree of background effort. Xeim’s target market is the top 200 companies by marketing spend. Its goal is to increase sales of corporate packages, subscriptions and partnerships, becoming more deeply embedded in customers’ workflows. The Lawyer is targeted at major UK and European law firms and in-house corporate lawyers, where it is enhancing its utility and growing its subscription revenue base.

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Equity Analyst

Fiona Orford-Williams

Fiona Orford-Williams

Director, TMT

Key Management

  • Colin Jones


  • Longfield, Simon


  • Mukerji, Swagatam


Balance Sheet

Forecast net cash (£m)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual 2.6 (2.5) 1.3
Relative (0.7) (4.1) 2.5
52 week high/low 54.5p/37.5p


Centaur Media’s strategy of focusing on its key Flagship 4 operations is underpinning group EBITDA levels against a difficult trading backdrop limiting revenue growth potential. The growing proportion of higher-quality revenues in the mix means that the adjusted EBITDA margin should at least achieve management’s MAP23 FY23 target of 23%, delivering adjusted EBITDA of £10m. Net cash of £8.8m at end June (post H123 special dividends), gives good scope for further investment in the core growth areas of business intelligence and learning. The recent Festival of Marketing was sold out, attracting a substantial blue-chip attendee base of high-spending marketeers, enhancing Centaur’s positioning.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2021A 39.1 6.4 3.0 1.9 20.8 8.9
2022A 41.6 8.5 5.2 2.6 15.2 6.7
2023E 41.6 10.0 7.3 3.6 11.0 6.0
2024E 44.0 10.6 8.1 3.8 10.4 5.6




MediaWatch – November 2023: Still waiting…



MediaWatch – July 2023

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