Marlowe has reported a strong set of FY21A results, with Adj EBITDA up 30% YoY to £28.7m, and Adj diluted EPS up 7% to 24.6p (8% ahead of our forecast). FY22E has started well, with run-rate revenues now at c£280m (83% of which is recurring), and Adj EBITDA at c£44m. We update our FY22E forecasts to reflect recent acquisitions (Adj diluted EPS up 2% to 32.2p), and release new projections for FY23E (c15% EPS growth YoY). Given the strength of Marlowe's business model, the favourable industry back ....
23 Jun 2021
Cenkos: Marlowe Plc -- Earnings ahead of expectations
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Cenkos: Marlowe Plc -- Earnings ahead of expectations
Marlowe Plc (MRL:LON) | 508 0 0.0% | Mkt Cap: 491.8m
- Published:
23 Jun 2021 -
Author:
Peter Renton -
Pages:
7
Marlowe has reported a strong set of FY21A results, with Adj EBITDA up 30% YoY to £28.7m, and Adj diluted EPS up 7% to 24.6p (8% ahead of our forecast). FY22E has started well, with run-rate revenues now at c£280m (83% of which is recurring), and Adj EBITDA at c£44m. We update our FY22E forecasts to reflect recent acquisitions (Adj diluted EPS up 2% to 32.2p), and release new projections for FY23E (c15% EPS growth YoY). Given the strength of Marlowe's business model, the favourable industry back ....