MGI: Challenging market leads to lower revenues
MGI’s Q2 revenues came in lower than expected, while operating profit was in line with our estimates. MGI decided to lower its guidance for 2023 due to a more challenging market environment. Operating cash flow improved compared to last quarter and should improve further as the year continues. Despite the challenging short-term outlook, MGI has maintained good operating margins. As highlighted in yesterday’s CMD, MGI is well-positioned to capture further market share and we see a clear upside in the low valuation as ad spending picks back up.
Verve
Verve (Ticker: VER) is a fast-growing, profitable, digital media company that provides AI-driven ad-software solutions. Verve matches global advertiser demand with publisher ad-supply, enhancing results through first-party data from its own content. Aligned with the mission, “Let’s make media better,” the company focuses on enabling better outcomes for brands, agencies, and publishers with responsible advertising solutions, with an emphasis on emerging media channels. Verve’s main operational presence is in North America and Europe. Its shares are listed on the Nasdaq First North Premier Growth Market in Stockholm and the Scale segment of the Frankfurt Stock Exchange. The company has three secured bonds listed on Nasdaq Stockholm and the Frankfurt Stock Exchange Open Market.
Read more on company pageKey Estimate Figures2023-09-01
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 324.4 | 303.9 | 321.3 |
growth-% | 28.66 % | -6.32 % | 5.73 % |
EBIT (adj.) | 76.6 | 74.1 | 69.4 |
EBIT-% (adj.) | 23.60 % | 24.37 % | 21.61 % |
EPS (adj.) | 0.19 | 0.18 | 0.15 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | 9.25 | 15.97 | 19.03 |
EV/EBITDA | 6.43 | 8.49 | 7.94 |
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