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.£1425.7m
Last close1,306.00p
High / Low (52 weeks)1346.0p / 1035.0p
Stock market listingLN
Forecast net debt (£m)28.5
Forecast gearing ratio (%)18

Price performance

Relative *(0.3)15.913.9

* % Relative to local index

Other companies in sector Show

Company news

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

Tue, 16 Jan 2018 08:23:45 GMT

How Does Euromoney Institutional Investor PLC's (LON:ERM) Earnings Growth ...

Mon, 23 Apr 2018 14:37:30 GMT

Euromoney acquires Extel survey business from WeConvene for an undisclosed sum

Thu, 08 Mar 2018 07:30:00 GMT

BRIEF-Euromoney Institutional Investor Says Wendy Pallot Will Join Co as CFO ...

Thu, 19 Apr 2018 17:03:45 GMT

RISI Acquired by Leading Information Group, Euromoney Institutional Investor PLC

Fri, 07 Apr 2017 15:51:08 GMT

Investment summary

Euromoney has agreed the disposal of its Global Markets and Intelligence Division, identified as discontinued at the prelims. The sale will raise $180.5m ($145m net), with completion likely before the end of April, at which point the group would move into a net cash position. It has also announced the acquisition of the Extel brand. The AGM trading update (early-February) indicated performance continuing in line with full-year expectations, subject to currency which is now a headwind. Our forecasts were adjusted to take this and recent M&A (but not the GMID disposal) into account. Q118 subscriptions and content are showing underlying growth of 2%. This masks the divergence between a strong showing from Pricing (+10%) and continued MiFID II-prompted drag from Asset Management (-6%).

Last updated on 06/04/2018

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 19.6 15.9
2017A 428.4 110.3 106.5 76.4 17.1 12.4
2018E 429.4 110.8 103.0 75.8 17.2 14.2
2019E 442.5 112.8 108.0 79.9 16.3 12.9

Last updated on 21/03/2018

Latest research

Subscribing to growth

Update | Media | 02/02/2018

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

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 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 06/04/2018

Key management

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

Company address

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