Unbound Group (AIM: UBG)

Currency in GBP

Last close As at 09/06/2023

GBP0.03

−0.75 (−21.43%)

Market capitalisation

GBP2m

Unbound Group is the parent company for a group selling a range of brands focused on the over-55 demographic. It will build on the foundation of its main business, Hotter Shoes, to grow value through a curated multi-brand retail platform with a range of complementary products and services.

Latest Insights

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Consumer

Unbound Group — Platform launch on time

Consumer

Unbound Group — Strong momentum in Q123

Consumer

Unbound Group – executive interview

Consumer

Unbound Group — A reassuring debut

Sector

Consumer

Equity Analyst

Russell Pointon

Russell Pointon

Director, Consumer

Key Management

  • Daniel Lampard

    CFO

  • Ian Watson

    CEO

Balance Sheet

Forecast net debt (£m)

7

Forecast gearing ratio (%)

3500

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (62.1) (38.9) (91.8)
Relative (61.4) (36.5) (91.7)
52 week high/low 33.0p/2.5p

Financials

Unbound Group’s update is encouraging with respect to current trading (since April 2022). Significantly, the launch of the curated multi-brand platform, which seeks to capitalise on the strengths of and customer loyalty to its core footwear offering and expand its addressable market, is confirmed as on time with an attractive blend of new partners. The share price has been very weak amid the recent widespread derating of online retailers, leading to an attractive prospective FY23e P/E multiple of 7.8x.

Y/E Jan Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2020A 85.5 10.9 0.5 N/A N/A N/A
2021A 44.5 (6.9) (14.3) N/A N/A N/A
2022E 51.9 5.5 0.3 0.9 3.1 0.2
2023E 59.5 7.5 2.0 3.8 0.7 0.2

Research

Consumer

Unbound Group — Platform launch on time

Consumer

Unbound Group — Strong momentum in Q123

Consumer

Unbound Group – executive interview

Consumer

Unbound Group — A reassuring debut

Consumer

Unbound Group — A platform for growth

Thematics

Consumer

ConsumerWatch – April 2023

Consumer

ConsumerWatch – January 2023

Consumer

ConsumerWatch – October 2022

Consumer

IPO apocalypse

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