Reworld Media (ALREW)

Business description

Reworld Media is a digital media group that combines well-recognised media brands (with on- and offline presence) and ad tech digital performance marketing.

Y/E Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2014A 48.0 (2.0) (2.9) (11.8) N/A N/A
2015A 60.8 1.1 0.0 0.0 N/A N/A
2016E 174.2 3.5 0.2 (1.5) N/A 152.1
2017E 186.3 8.5 3.2 5.7 41.6 17.5

Last updated on 06/03/2017

Latest research

Brand building

Initiation | Media | 06/03/2017

Investment summary

Reworld Media combines leading media brands with performance marketing via its consolidated 30% TradeDoubler shareholding, providing advertisers with a strong data-driven proposition. Management has reinvigorated its brands, investing in their digital offers and driving reach, while structural profitability has improved through extensive overhead reduction. TradeDoubler (TD) reported adjusted positive EBITDA in H216 and management has indicated that group FY16e EBITDA will be roughly treble that of FY15. Medium-term earnings growth will be driven by operating leverage, along with the fast-growing digital share of global marketing spend, which should then reflect in the valuation.

Last updated on 06/03/2017

Key management

Pascal Chevalier, Chairman
Gautier Normand, CEO
Pascal Chevalier, Chairman

Company address

16 Rue du Dome
Paris
92100
France
+33 1 45 19 58 00
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