VLG made good strategic and operational progress in FY22 and has delivered a c5% beat at the EBITDA level. While D&A weighs a bit on PBT/EPS, the revenue and profit outlook is positive. We maintain sales/EBITDA in FY23, and have introduced forecasts for FY24 which indicate a 2-year EPS CAGR of 50%. Crucially, FCF is expected to improve materially, reducing ND by almost £10m over the next 2 years and offering an adj. FCF yield in excess of 15% this year. Without expanding our target multiple at t ....
04 Apr 2023
Positive outlook and improving FCF generation
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Positive outlook and improving FCF generation
Venture Life Group Plc (VLG:LON) | 42.2 0.1 0.6% | Mkt Cap: 53.4m
- Published:
04 Apr 2023 -
Author:
Matthew McEachran -
Pages:
3
VLG made good strategic and operational progress in FY22 and has delivered a c5% beat at the EBITDA level. While D&A weighs a bit on PBT/EPS, the revenue and profit outlook is positive. We maintain sales/EBITDA in FY23, and have introduced forecasts for FY24 which indicate a 2-year EPS CAGR of 50%. Crucially, FCF is expected to improve materially, reducing ND by almost £10m over the next 2 years and offering an adj. FCF yield in excess of 15% this year. Without expanding our target multiple at t ....