Normalised revenues came in at EUR 19.1m (-0.1% vs ABGSC 19m and 0.5% vs cons 19m), while EBITDA was EUR 6.5m (2.2% vs ABGSC 6.4m and 1.7% vs cons 6.4m). Adj. EBIT came in at EUR 2.9m (16.7% vs ABGSC 2.5m and 11.8% vs cons 2.6m). Looking ahead, April has developed positively, and revenues are up 42% compared to the same period last year (28% organic growth), where Factset cons. estimated 34% for a full Q2'22. The company reiterates its 2022 guidance of generating revenues of EUR 87-93m with an EBITDA of EUR 30-35m. Furthermore, the long-term financial targets remain unchanged.
40% growth in media, while platform should ramp up from Q2
GiG continues to show strong growth in the Media segment, up 40% y-o-y, and an EBITDA margin of 49%. Furthermore. we note that the Americas delivered 200% growth in comparison to last year and should contribute solid growth ahead. Regarding the platform business, we expect a ramp up from Q2 and onwards given the integration of SportnCo the 1st of April, while also highlighting that the management targets annualised savings in the region of EUR 8m, including the Sportnco synergies.
We expect limited estimate changes from cons. at a first glance
Given that the numbers were largely in line with consensus expectations coupled with reiterated FY’22 guidance and long-term targets, we do not expect any material revisions from consensus at a first glance. If anything, we could see small positive revisions given the strong trading update for the start of Q2’22. More information in the conference call at 10.00 CEST.
Läs mer på ABG Sundal Collier
Aktuellt
SENASTE
