Adj EBITDA will be around 20% higher than forecast in FY21E. This is a decent 'beat' and we attribute it to a rise in underlying operating margins from the transformation programme and favourable business mix from US sports. Not all the benefits from the transformation programme are yet visible in earnings but they are already compensating for much of the weakness possible in Casino in FY22E.
01 Feb 2022
Cenkos: XLMedia Plc -- A material beat in FY21E
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Cenkos: XLMedia Plc -- A material beat in FY21E
XLMedia Plc (XLM:LON) | 12.0 -0.1 (-4.2%) | Mkt Cap: 31.2m
- Published:
01 Feb 2022 -
Author:
Cavendish Research -
Pages:
5
Adj EBITDA will be around 20% higher than forecast in FY21E. This is a decent 'beat' and we attribute it to a rise in underlying operating margins from the transformation programme and favourable business mix from US sports. Not all the benefits from the transformation programme are yet visible in earnings but they are already compensating for much of the weakness possible in Casino in FY22E.