Centaur Media (LSE: CAU)

Last close As at 20/04/2024

GBP0.51

0.00 (0.00%)

Market capitalisation

GBP75m

Centaur Media is an international provider of business intelligence, learning 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.

Centaur is increasingly focused on providing premium content, training and advisory services and events across its two target markets; marketing and the legal sector. Xeim’s target market is the top 200 companies by marketing spend, where it is working to become more deeply embedded in its clients’ 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.

Latest Insights

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Sector

TMT

Equity Analyst

Fiona Orford-Williams

Fiona Orford-Williams

Director, TMT

Key Management

  • Colin Jones

    Chairman

  • Longfield, Simon

    CFO

  • Mukerji, Swagatam

    CEO

Balance Sheet

Forecast net cash (£m)

12.4

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 24.4 14.6 4.1
Relative 21.0 9.7 2.6
52 week high/low 52.0p/36.0p

Financials

Centaur’s FY23 results marked the end of its MAP23 margin acceleration plan, with the adjusted EBITDA margin more than doubling over its three-year course to 26%, ahead of the original 23% target. This is despite an unhelpful economic backdrop with extended pressure on corporate marketing budgets. Centaur’s strategy for the next period will be outlined on 23 April at a capital markets day, at which time we will extend our forecast horizon to FY25. We expect the new plan to enhance the business model, rather than rethink it. FY23 results were in line with January’s update, with a greater uplift in dividend, putting the shares on a sub-market rating and a premium yield.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2022A 38.4 8.1 5.9 3.0 17.0 8.0
2023A 37.3 9.7 7.6 4.2 12.1 7.1
2024E 39.2 9.8 7.8 4.1 12.4 6.9
2025E N/A N/A N/A N/A N/A N/A

Thematics

thematic

TMT

MediaWatch – Rinse and repeat

thematic

TMT

MediaWatch – Still waiting…

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