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Currency in GBP
Last close As at 09/06/2023
GBP0.48
— 0.00 (0.00%)
Market capitalisation
GBP70m
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.
Director, TMT
Colin Jones
Chairman
Longfield, Simon
CFO
Mukerji, Swagatam
CEO
Forecast net cash (£m)
12.8
Forecast gearing ratio (%)
N/A
| % | 1M | 3M | 12M |
|---|---|---|---|
| Actual | (1.0) | (9.4) | (2.0) |
| Relative | 3.6 | (4.3) | (0.3) |
| 52 week high/low | 54.5p/38.5p |
Centaur’s FY22 results have come in slightly better than indicated at the year-end update, showing good revenue growth of 6% and a notable step-up in adjusted EBITDA margin, from 16% to 20%, as the group focuses on its higher-quality repeat and recurring revenue streams. The ‘new’ news is of an additional special dividend of 2.0p, coming soon after the 3.0p special dividend paid in February, reflecting the accumulation of cash on the balance sheet beyond the level needed to support the existing business and the investment required to support the anticipated growth. Management’s FY23 MAP23 targets of £45m in revenue and an EBITDA margin of 23% are demanding but achievable.
| 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 | 25.8 | 11.1 |
| 2022A | 41.6 | 8.5 | 5.2 | 2.6 | 18.8 | 8.3 |
| 2023E | 45.0 | 10.2 | 6.4 | 3.2 | 15.3 | 7.1 |
| 2024E | 47.7 | 10.9 | 6.9 | 3.9 | 12.6 | 6.6 |
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