Report
Fiona Orford-Williams

Ebiquity - Progress in delivery of strategy

Ebiquity has had a good first half, with a 20% uplift in revenues and a return to operating profit, with an underlying operating margin of 7%. Our expectations for the full year and for FY22e are edged up, although there remain notes of caution around prospects in some sectors in H2. Ebiquity is making good progress with its digital activities and product solutions, which we expect to support the medium-term growth. The share price performance year-to-date has been strong (up 194%), but the valuation remains at a sizeable discount to peers.
Underlying
Ebiquity

Ebiquity is a holding company, engaged in providing independent marketing analytics services to advertisers, spanning over 90 countries. Co. operates through three segments: Media Value Measurement, Market Intelligence and Marketing Performance Optimization. Co.'s Media Value Measurement segment includes Co.'s media benchmarking, financial compliance and associated services. Co.'s Market Intelligence segment includes Co.'s advertising monitoring, reputation management and research/insight services. Co.'s Marketing Performance Optimization segment consists of Co.'s marketing effectiveness and multi-channel analytics services.

Provider
Edison Investment Research
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.

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Analysts
Fiona Orford-Williams

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