Hostmore (LSE: MORE)

Last close As at 18/05/2024

20.20

−0.80 (−3.81%)

Market capitalisation

GBP25m

Latest Insights

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Consumer | Update

Hostmore — Back on track

Consumer | Update

Hostmore — Ready to party

Consumer | Flash note

Hostmore — Delivering on its plans

Consumer | Initiation

Hostmore — Full menu!

Sector

Consumer

Balance Sheet

Forecast net debt (£m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (12.2) 55.4 (36.1)
Relative (10.3) 57.4 (36.8)
52 week high/low 36.7p/12.1p

Financials

Hostmore has reassured with confirmation that, despite sector operating challenges, its like-for-like (l-f-l) revenues since 23 May are as expected in its May update, which assumed up to 8% lower l-f-l dine-in volumes on 2019 for the rest of 2022, mitigated by pricing. Organic expansion is also on track with the new 63rd+1st in Edinburgh part of five openings planned this year, while newly enhanced banking facilities reinforce a strong balance sheet. Despite the downward revision to our current year forecasts given May’s cautious update, for FY23 Friday’s rejuvenation prospects in likely improving conditions and clear growth opportunities drive our newly introduced expectation of a sharp rebound. Hostmore’s rating of 4x FY23e EV/EBITDA is low against an average of c 7x for peers.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2020A 129.1 23.5 (12.2) N/A N/A N/A
2021A 159.0 43.0 7.1 5.06 4.0 0.6
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

Research

thematic

Consumer

ConsumerWatch – A Spring in the step

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Consumer

ConsumerWatch – January sales

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ConsumerWatch – Bargains galore

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Consumer

IPO apocalypse

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Food tech – At the forefront of food innovation

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ESG, moving beyond the box tick

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ConsumerWatch – Value emerging

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Consumer

Circular economy business models

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Consumer

Moving from a vegan January to a sustainable one

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Consumer

Meating Demand – The lean, green money-making machine

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Illuminator: August Update

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Consumer

Deutsche Börse Eigenkapitalforum 2014 Research Guide