Edison issues outlook on MGI – Media and Games Invest (M8G)

Building a major global adtech player 11.12.2023, 08:45 Uhr von EQS News Jetzt kommentieren: 0

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Edison Investment Research Limited
Edison issues outlook on MGI – Media and Games Invest (M8G): Building a major global adtech player

11-Dec-2023 / 07:45 GMT/BST
The issuer is solely responsible for the content of this announcement.


 

London, UK, 11 December 2023

 

Edison issues outlook on MGI – Media and Games Invest (M8G): Building a major global adtech player

MGI – Media and Games Invest (MGI) continues to steadily gain market share in a difficult trading environment. It is the leading mobile open web supply-side platform on both Android and iOS in North America, and second on Android and fifth on iOS in EMEA. Q323 organic net revenue was 1% up on Q322, with early benefits from the €10m annualised cost savings plan helping to lift the adjusted EBITDA margin to 29% (Q322: 26%). The fundamentals for MGI are positive, with its vertical integration giving an efficient market proposition and earlier acquisitions providing a sound basis for its connected TV offering. The withdrawal of personal identifiers on Google should give further impetus, which we feel is not yet reflected in the rating.

 

Adtech shares have had mixed performances in 2023, with scale a clear benefit. MGI is now trading at a considerable discount to peers across pure adtech and relevant content categories. Parity of rating on EV/revenue and EV/EBITDA across FY23–24e would see the price climb to €3.45 (from €3.57 in June).  


Click here to view the full report.

 

All reports published by Edison are available to download free of charge from its website

www.edisongroup.com

About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.

Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Fiona Orford-Williams + 44 (0)20 3077 5739 media@edisongroup.com

Milo Bussell +44 (0)20 3077 5700 media@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on: 

LinkedIn www.linkedin.com/company/edison-group-/

Twitter  www.twitter.com/Edison_Inv_Res

YouTube www.youtube.com/edisonitv



Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


End of Announcement - EQS News Service

1793565  11-Dec-2023 

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