Double-digit revenue growth expected in 2024
MGI's Q4 revenues were well ahead of our and consensus expectations. During the quarter, MGI saw the beginnings of a recovery in the advertising market, which has continued into the first months of 2024. As a result, MGI's outlook for the current year is a return to double-digit revenue growth. This is a significant improvement over our previous assumption of a sluggish year and leads us to raise our revenue estimates. With the improved outlook, we believe the risk/reward ratio has further improved.
Verve
Verve operates in the technology industry. The company runs an ad-software platform that matches global advertiser demand with publisher ad-supply enriching the process with first-party data from own games. Verve's main operational presence is in North America and Europe. Through investments in organic growth and innovation, as well as targeted M&A, MGI has built a one-stop shop for programmatic advertising, enabling companies to buy and sell ad space on all digital devices.
Read more on company pageKey Estimate Figures01.03.2024
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 322.0 | 357.7 | 390.0 |
growth-% | -0.76 % | 11.08 % | 9.04 % |
EBIT (adj.) | 76.9 | 78.5 | 74.5 |
EBIT-% (adj.) | 23.89 % | 21.96 % | 19.10 % |
EPS (adj.) | 0.15 | 0.16 | 0.18 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | 6.78 | 20.14 | 17.88 |
EV/EBITDA | 3.58 | 8.39 | 8.23 |