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The Marketing Group (TMG)

Business description

The Marketing Group is building a global full-service marketing network. Each company within the group provides specialist marketing services brought together, within communities of practice, to form an international network that can address a global market.

Investment summary

The Marketing Group is rebranding as RYVL, retaining the agency names alongside. Its Q118 update showed sales broadly in line and EBITDA a little ahead of expectations through good cost control. This discipline should stand RYVL in good stead as it builds its business both within the existing agencies and in future tech-biased acquisitions. Its TRUTH blockchain-enabled media agency is raising an Initial Coin Offering of US$5-50m for its data cloud, its data marketplace that will let consumers be rewarded for sharing their own private internet browsing data. CFO Mike McElhatton is moving on and is replaced by Alex Knight, ex Omnicom, Creston and Four Communications and interim results have been pushed back to 31 August.

Last updated on 28/09/2018

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2016A 8.6 1.6 1.5 7.81 0.8 3.3
2017A 22.9 1.5 1.2 3.43 1.7 2.2
2018E 24.8 1.5 1.3 2.74 2.2 3.0
2019E 26.6 2.1 1.9 4.39 1.4 1.2

Last updated on 20/09/2018

Latest research

Focused on delivery

Update | Media | 03/05/2018

Moving to the next stage

Update | Media | 04/04/2018

Acquisition of German wildcard

Flash note | Media | 29/11/2017

Q3 update gives reassurance and upgrade

Update | Media | 15/11/2017

Ready to move forward

Initiation | Media | 27/09/2017

Promising maiden results

QuickView | Media | 28/02/2017

Agglomeration on a global scale

QuickView | Media | 16/12/2016

Latest video

Executive interview - The Marketing Group

Industry outlook

The current disorder and limited organic growth in the large holding companies is highlighting how the power balance is shifting between brand owners and marcomms suppliers. Smaller agencies that can focus on finding practical and creative solutions to the issues that the client wants to address, rather than present their agencies’ capabilities, are increasingly in a position to make the roster and work in a more integrated manner.

Last updated on 28/09/2018

Key management

Don Elgie, Chairman
Adam Graham, CEO
Mike McElhatton, CFO

Company address

Enterprise House
Ocean Village
Southampton
SO14 3XB
United Kingdom
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