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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.£1353.9m
Last close1,240.00p
High / Low (52 weeks)1450.0p / 1117.0p
Stock market listingLN
Forecast net cash (£m)95.6
Forecast gearing ratio (%)N/A
TeamMedia
SectorMedia

Price performance

%1m3m12m
Actual(5.8)(6.8)10.1
Relative *(4.8)0.816.2

* % Relative to local index

Other companies in sector Show

Company news

Euromoney Institutional Investor Profit Surges On Disposal Gains

Thu, 17 May 2018 08:48:45 GMT

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

Tue, 16 Jan 2018 08:23:45 GMT

At £13, Is It Time To Buy Euromoney Institutional Investor PLC (LON:ERM)?

Wed, 09 May 2018 11:37:30 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

Investment summary

Euromoney has sold Mining Indaba to ITE for £30.1m (12x adj. operating profit), to be paid £20m on completion with the balance by 1 June 2019. The group's cash position was £94.1m at end June, post receipt of the GMID proceeds, giving plenty of scope for further M&A. The Q3 trading update showed little change from the position at the interims in May, with overall underlying revenues flat. This, however, masks divergent segmental performances. Structural issues in the asset management sector persist, while the pricing, data and market-intelligence subscription revenues are relatively robust. The net result is no change to our full year or prospective forecasts, which will be updated for the Random Lengths acquisition at the prelims. Full year results are scheduled for 22 November.

Last updated on 26/10/2018

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 18.6 15.1
2017A 428.4 110.3 106.5 76.4 16.2 11.8
2018E 405.0 109.4 103.5 72.8 17.0 12.6
2019E 410.0 110.3 105.0 74.6 16.6 12.2

Last updated on 19/10/2018

Latest research

On track

Update | Media | 19/07/2018

On the money

Update | Media | 18/05/2018

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

Latest video

Analyst Interview - Euromoney Institutional Investor

Industry outlook

Management’s internal view was that the weakness in Asset Management related to the impact of MiFID II. It is now regarded as a longer-term structural problem around overall industry costs and the value obtained from spending on research. 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 26/10/2018

Key management

Andrew Rashbass , CEO
Wendy Pallot, CFO

Company address

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