Euromoney Institutional Investor (ERM)

Business description

Euromoney Institutional Investor is an international B2B information and events group. Its portfolio of over 50 specialist businesses spans macroeconomic data, investment research, news and market analysis, industry forums and institutes, financial training and excellence awards.

Stock data

Market cap.£1278.7m
Last close1,172.00p
High / Low (52 weeks)1305.0p / 1027.0p
Stock market listingLN
Forecast net debt (£m)111.8
Forecast gearing ratio (%)37
TeamMedia
SectorMedia

Price performance

%1m3m12m
Actual(2.2)2.8(0.6)
Relative *(4.3)0.7(7.6)

* % Relative to local index

Other companies in sector Show

Company news

Euromoney says European Commission conducting unannounced inspection of its ...

Tue, 16 Jan 2018 08:15:00 GMT

Quayle Munro Advises FastMarkets On Its Sale To Euromoney Institutional ...

Wed, 07 Sep 2016 08:26:15 GMT

RISI Acquired by Leading Information Group, Euromoney Institutional Investor PLC

Fri, 07 Apr 2017 15:51:08 GMT

Is Euromoney Institutional Investor plc a good investment in these troubled times?

Thu, 24 Nov 2016 14:20:02 GMT

Quayle Munro Advises AXIO Group On Its Sale Of RISI To Euromoney Institutional ...

Tue, 07 Mar 2017 11:03:45 GMT

Investment summary

Euromoney’s FY17 results were as indicated at the year-end update, “perhaps a little better”, with FY18 having started on track. Our forecasts are broadly unchanged on these figures, adjusted for the disposal of Adhesion/WBWE. The strategic transition put in place over the last two years is driving stronger underlying growth, with ongoing recycling of capital into better businesses. The overhanging cloud remains MiFID II, which is deterring new business from asset managers. This should work its way through and meanwhile the pricing-based businesses are making good progress. Strong cash flow makes further acquisitions likely. The rating does not reflect the improving underlying earnings quality.

Last updated on 13/12/2017

Y/E Sep Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 403.1 104.3 102.5 66.6 17.6 14.3
2017A 428.4 110.3 106.5 76.4 15.3 11.2
2018E 440.0 117.6 109.0 80.2 14.6 11.8
2019E 460.0 126.5 117.5 87.0 13.5 10.2

Last updated on 08/12/2017

Latest research

Pricing vs asset management

Update | Media | 29/11/2017

Digital information for business

Outlook | Media | 12/10/2017

Broadly favourable events

Update | Media | 21/07/2017

Finding its wings

Update | Media | 23/05/2017

Sterling top-line benefits

Update | Media | 27/01/2017

DMGT reduces stake

Flash note | Media | 09/12/2016

Horizon at FY18

Update | Media | 28/11/2016

Pre-close trading update

Update | Media | 30/09/2016

Waiting for September

Update | Media | 21/07/2016

Early stages of new strategy

Update | Media | 24/05/2016

Plans for progress

Outlook | Media | 24/03/2016

Headwinds still blowing

Update | Media | 29/01/2016

Latest video

Analyst Interview - Euromoney Institutional Investor

Industry outlook

The asset management sector still carries a cautionary note with regard to the impacts of the impending MiFID II regulation and the ongoing shift towards passive rather than active management. Our numbers are based on the assumption that there is no immediate recovery in underlying customers’ markets. Banking, finance and commodity markets are continuing to build in confidence.

Last updated on 13/12/2017

Key management

John Botts, Chairman
Andrew Rashbass , CEO
Christopher Fordham, MD
Colin Jones, FD

Company address

Nestor House
Playhouse Yard
London
EC4V 5EX
United Kingdom
+44 (0)20 7779 8845
View website