Entertainment One (ETO)

Business description

Entertainment One (eOne) is a leading international entertainment company that sources, selects and sells films and television content. Its library contains over 40,000 film and TV titles, 4,500 half-hours of TV programming and 45,000 music tracks.

Investment summary

An excellent performance from Family & Brands and strong growth in Television offset declines in Film to deliver EBITDA growth of 11%, which is in line with forecasts. The group is in good shape entering FY19 and is on track to deliver to its five-year plan to double EBITDA by 2020. The shares are on a c 40% P/E and c 20% EV/EBITDA discount to global peers and we believe they offer good value.

Last updated on 22/05/2018

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 802.7 129.1 104.1 19.4 14.9 3.7
2017A 1082.7 160.2 129.9 20.0 14.5 2.9
2018E 1044.5 177.3 144.4 21.9 13.2 2.7
2019E 1208.6 193.4 154.9 23.6 12.2 2.4

Last updated on 22/05/2018

Latest video

Executive Interview - Entertainment One

Industry outlook

OTT platforms are having a disruptive effect, helping to drive strong demand for content. Premium content companies like eOne, with a diversified portfolio of content across Television, Film and Family brands, are well placed to satisfy the strong global demand for entertainment content.

Last updated on 27/04/2018

Key management

Darren Throop, CEO
Joe Sparacio, CFO
Mitzi Reaugh, Non-executive director

Company address

134 Peter Street
Suite 700
M5V 2H2
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