reports
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Guy Sips
- Guy Sips
Roularta Selling its German magazines, now full focus on its 2 core ma...
Roularta Media Group as reached an agreement with Herder Verlag and Agentur2 around the acquisition of G-Geschichte, Plus Magazin and Frau Im Leben. The media group intends to focus its focus on further strategic growth in its two core markets: Belgium and the Netherlands. No impact on our investment case (Accumulate, € 17.5 Target Price) but we welcome that as from now Roularta can continue its ambitious growth strategy focused on digitalisation, innovation, consolidation and sustainability in...
- Guy Sips
Roularta A significant increase in EBITDA with stable sales
We saw € 159.5m 1H24 revenues (+0.1% y/y) and 1H24 EBITDA of € 11.4m (+36.5% y/y) so Roularta's continued investment in a multimedia market approach and the further expansion of the Dutch magazines ensured a significant increase in Roularta's EBITDA with stable sales. We updated our model (Accumulate and € 17.5 TP maintained) as Roularta indicated that -given the uncertain economic context and the budgetary restrictions that continue to confront advertisers- a certain amount of pressure on adve...
Roularta Media Group Nv: 1 director
A director at Roularta Media Group Nv bought 8,772 shares at 11.400EUR and the significance rating of the trade was 60/100. 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 year...
- Guy Sips
Roularta FY23 EBITDA of € 21.6m despite pressure on advertising and ri...
Like the entire media sector, Roularta has increased advertising rates, but this price effect is unable to compensate sufficiently for declining volumes due to the slowing advertising market. Roularta Media Group achieved FY23 EBITDA of € 21.6m, despite pressure on advertising revenue and rising wage costs. We maintain our Accumulate rating and use a, DCF backed, € 17.5 Target Price.
- Vincent Koppmair
Roularta - FY23 - Cost pressures remained strong
Sales down 5.7% due to a difficult advertising market, but better than H1.Cost inflation remained strong. Gross margin increased to 81.3%. EBITDA comes in at EUR 21.6m (-28% YoY) or a 6.7% margin (vs. 8.8% margin in 2022).Net profit lands at EUR 2.4m. Optional DPS proposed at EUR 1.00/share.Roularta is cautiously optimistic for 2024. The concession distribution for magazines will be the bigger question mark in 2024.We put Roularta ‘Under review' while we review our estimates.More details in...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Thibault Leneeuw
- Wim Hoste
- Wim Lewi
- Guy Sips
- Hilde Van Boxstael
- Wim Hoste
- Wim Lewi
- Guy Sips
- Jacob Mekhael
- Thomas Couvreur
- Wim Lewi
- Guy Sips
Roularta FIRST LOOK - 1H23 revenue and profit under pressure
Roularta's 1H23 revenues were down 6.0% y/y to € 159m mainly due to a difficult advertising and readership market. In addition, higher paper, energy and personnel charges caused EBITDA to fall from €17.8m to € 8.4m. We lower our Target Price from € 24 to €21 as Roularta's 1H23 revenue and profit were under pressure due to increased costs and economic uncertainty. We maintain our Accumulate rating as we see potential in Roularta announced additional investment in development of digital package (b...
- Guy Sips
- Hilde Van Boxstael
- Sharad Kumar S.P
- Wim Lewi
- Vincent Koppmair
Roularta - H1 2023 - Sales & cost pressures persist
Sales down 6% given a difficult readers and advertising market.Cost inflation persists, price increases were unable to fully offset them. Gross margin decreased 80bps to 80.2%. Net profit landed at EUR -0.9m.Roularta remains prudent on H2 due to the uncertainties in the market.The company hosts an analyst meeting today at 13:00 CET.More details in our note issued this morning
- Benjamin Wolff
- Guy Sips
- Hilde Van Boxstael
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Guy Sips
- Sharad Kumar S.P
- Wim Lewi
- Guy Sips
- Olivier Vandewoude
- Ruben Devos
- Sharad Kumar S.P
- Thomas Couvreur
- Wim Lewi
Morning Note: ABN NA, ACKB BB, BEFB BB, CPINV BB, ELI BB, ENX FP, PROX...
ABN Amro: 1Q22: ALM rearing its head again Ackermans: Sale of Anima to AG Insurance Befimmo: 1Q22 – Maintains FY22 guidance CP Invest: 1Q22 - Small beat and raise Elia Group: Q1 Update: stability rules, also in turbulent times Euronext: 1Q22: demonstrating the stock is undervalued Proximus: Signing of MoU to deploy fiber in German-speaking area Roularta: FY22 will see more expensive paper/energy prices
- Guy Sips
- Michiel Declercq
- Ruben Devos
- Thomas Vranken
Morning Note: ARGX BB, BESI NA, OPTI BB , KIN BB, PNL NA, ROU BB, SIP ...
Argenx: Capital raise increased to $ 805m BESI: Convertible debt issuance of € 175m Crescent: Now 1,994,069,719 shares + new financing Kinepolis: CFO De Clercq leaving, big shoes to fill PostNL: Director of PNL Belgium arrested Roularta: Becoming owner of largest Belgian health websites Sipef: Change in export levy Telecom: Newcomer exercises option for reserved spectrum
- Guy Sips
- Jeroen Van Den Bossche
- Ruben Devos
- Sharad Kumar S.P
- Thomas Vranken
- Wim Hoste
Morning Note: COMB BB, MITRA BB, ROU BB, SEQUA BB, TWEKA NA, UCB BB, U...
Bois Sauvage: Recovery Beyond Pre-Covid Levels Mithra: FY21: Prudent Estelle uptake, Donesta in spotlight Roularta: Roularta 2.0 : from a B2B to a B2C environment Sequana Medical: € 28.4 m ABB provides runway until Q2 2023 TKH Group: Great results but economic fears cap earnings upside UCB: Doubles down on Gene Therapy/Zogenix acquired Umicore: Metal price volatility, watch nickel
- Guy Sips
- Lenny Van Steenhuyse
- Olivier Vandewoude
- Thomas Vranken
- Wido Jongman
- Wim Hoste
- Wim Lewi
Morning Note: DECB BB, EXM BB, HOMI BB, IMMO BB, OXUR BB, ROU BB, SHUR...
Deceuninck: Placement of Allacha and Evalli shares in DECB EXMAR: “Hire me!” Home Invest Belgium: 1H21 Results, Close to the Mark Immobel: 1H21 results, Permits are Accelerating Oxurion: 1H21: Nearing a moment of truth Roularta: will stop distributing “De Streekkrant” Shurgard: Investor Day, The Audience Was Listening
- Guy Sips
- Lenny Van Steenhuyse
- Ruben Devos
- Thomas Vranken
- Wim Hoste
Morning Note: BCART BB, DECB BB, LOTB BB, PIC BB, ROU BB, TWEKA NA
Biocartis: Fire update and 1H21 topline results Deceuninck: 1H EBITDA +83%, demonstrating pricing discipline Lotus Bakeries: Making Biscoff one of the largest cookie brands Picanol: Denial of the allegations of Rieter Roularta: Nice set of results TKH Group: Firing on most cylinders | 25% EPS beat
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