Edison Investment Research - Centaur Media (CAU) Centaur Media - Simplification and innovation

Report

Edison Investment Research

Fiona Orford-Williams

Centaur Media - Simplification and innovation

Centaur’s recent capital markets day (CMD) facilitated a deeper dive into the transformation that the group has undergone, with detailed presentations on the underlying businesses by operational management. These underlined the route map towards achieving the goals enshrined in MAP23 – management’s target of revenues of over £45m and an adjusted EBITDA margin of 23% by FY23. We edged up our estimates on the trading update accompanying the CMD and see the MAP23 targets as demanding but achievable, with the valuation overstating the execution risk.

11/11/2021 8 EN

Underlying

Centaur Media

Centaur Media is a holding company. Through its subsidiaries, Co. is engaged in the provision of business information, events and marketing solutions to selected professional and commercial markets. Co.'s activities are categorized across four market segments: Marketing, which includes all of Co.'s brands that serve marketing and professions in primary market sectors; Professional, which includes legal portfolio, such as the print, digital and live event activities associated with The Lawyer and Clean Energy Pipeline; Financial Services, which serves the retail financial services industry; and Home Interest, which includes the live events and publishing assets.

See profile

GB0034291418 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

See profile

Analysts

Fiona Orford-Williams

Other Reports on these Companies

Edison Investment Research

Centaur Media - MAP23 plan delivers a higher-quality business

Centaur’s FY23 results mark 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 i...

March 13, 2024 March 13, 2024 1 EN

Edison Investment Research

Centaur Media - Strong margin performance

Centaur’s year-end trading update indicates that the group has delivered a strong EBITDA margin for FY23, above 25% and well ahead of the level targeted in the MAP23 margin acceleration plan. This is despite it having been a difficult year in which to grow revenues, with clients slow to close out larger contracts, as broadly reported across the sector. We currently expect confidence to pick up in H224, after a relatively cautious start to the year. We have made provisional adjustments to our estimates on that basis, with the picture likely to be clearer by the March prelims.

January 18, 2024 January 18, 2024 1 EN

SmartInsider

Centaur Media: 1 director

A director at Centaur Media bought 126,235 shares at 39p and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board mem...

Free Trial

September 22, 2023 September 22, 2023 1 EN

Basilea Pharmaceutica - Cresemba milestone payments continue to roll in

Basilea Pharmaceutica has announced the triggering of a US$1.25m milestone payment from Pfizer, triggered by sustained strong sales of Cresemba in the Asia-Pacific region and China. This is the second FY24 milestone payment for the region and is incremental to the payment received in March. We note that, according to the latest available data, total in-market sales of Cresemba amounted to US$473m in the 12 months ending December 2023, representing a +26% year-on-year increase. Basilea is preparing to launch its Phase III programme for fosmanogepix, a broad-spectrum antifungal therapy, with the...

12h / 19m 12h / 19m 1 EN

Toby Thorrington

Toby Thorrington

AAC Clyde Space - Solid start to the year with further order growth

AAC Clyde Space offers exposure to the fast-growing low Earth orbit space market. A solid start to the year and continued order momentum are encouraging. We also note the internal restructuring to promote delivery of the group’s products and services. We expect this combination to drive an improving performance, albeit within the lumpy nature of the business, in turn improving investor confidence and the stock’s valuation.

14h / 14m 14h / 14m 1 EN

Richard Williamson

Richard Williamson

Tinexta - Typical seasonality in Q124

Tinexta’s Q124 results showed good progress in the two divisions that typically demonstrate more consistent (through the year) growth, Cyber Security and Digital Trust, which management expects to deliver higher growth over the next few years. Business Innovation demonstrated its typical seasonality and management therefore remains confident about the outlook for the year.

15h / 40m 15h / 40m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Centaur Media - Simplification and innovation

Centaur Media - MAP23 plan delivers a higher-quality business

Centaur Media - Strong margin performance

Centaur Media: 1 director

Basilea Pharmaceutica - Cresemba milestone payments continue to roll in

AAC Clyde Space - Solid start to the year with further order growth

Tinexta - Typical seasonality in Q124

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe