Dori Media Share Discussion Threads

[papalpower] 09/8/2007 10:07

In fact, I likes DMG so much I've done a new PBB thread (can be used on FBB) which I will build up with information.

[papalpower] 09/8/2007 10:06

Daniel Stewart comment on 16th July 07 :

Broker comment:-

Dori Media - BUY

Price: 153p Target price: 253p Code: DMG.L Analyst: James Hollins | 020 7776 6571

Significant contract win, target upgrade

* Dori Media has announced that it has set up a new subsidiary, Dori Media Spike, to operate TV channels for Israel�s largest multi-channel platform, HOT. This is a substantial contract win and we are upgrading our FY08 forecasts and increasing our target price from 230p to 253p (65% potential upside).
* Dori Media Spike is 75% owned by Dori Media (remainder owned by Spike 2 K Communications) and will produce and operate HOT�s premium movie channels as well as other new and existing channels. HOT has a c.64% market share in Israel and is the sole Israeli cable operator.
* This agreement should dramatically increase Dori�s profile, providing direct access to the Hollywood studios, as well as enhancing cross-sell opportunities, notably into Dori�s dubbing and subtitling subsidiary.
* The three-year agreement should drive estimated total sales of between $52.5m and $67.5m ($17.5-22.5m annually).
* The contract is scheduled to commence on 1 January 2008 and we are therefore increasing our FY08 group revenue forecast by 50% (+$20.0m) from $40.3m to $60.3m.
* The new business is lower margin, but is forecast to increase group PBT in FY08 by 18% ($11.2m vs $9.5m). We are increasing our FY08 earnings estimate from 37.7c to 44.5c (+18%).
* On this basis, the shares are standing at 10.0x FY07E and 6.9x FY08E. This materially undervalues the group�s existing operations, as well as the strength of the three-year contract win announced this morning.
* We are upgrading our price target from 230p to 253p (+10%, target multiple of 11.4x FY08E) and retain our Buy recommendation.

[papalpower] 09/8/2007 10:05

GCI BUY rating earlier this year :



Dori Media – cleaning up in soaps - BUY

Companies: DMG

01/05/2007

Soaps (of the TV variety) are something you either love or hate. But if you think EastEnders is down-market, you should try the telenovelas popular with teenagers in Latin America. Fortunately for Dori Media, it looks as if much of Asia and Eastern Europe is catching the telenovela bug, too.




Dori is an Israeli company traded on AIM, which produces, distributes, broadcasts and merchandises telenovelas and has long operated its own soap channel in Israel. International sales, however, are the growth area. Last year, broadcasting and format rights sales doubled, and international sales accounted for nearly three-quarters of the total (up 46 per cent from the previous year).

Dori launched its own channel in Indonesia (Televiva Vision 2) and achieved breakthrough sales in Spain, Germany and Eastern Europe. With turnover now split roughly equally between Israel, Latin America and Europe, Dori can rightly claim that telenovelas have become a global market.

The stock market has woken up to Dori and the shares have been among the strongest performers on AIM over recent weeks but at the current 177.5p, there is certainly further to go with Dori still trading at a discount to the TV production sector when many would argue they should be trading at a premium.

Dori has a library of 3,500 hours of telenovelas and added around 800 hours in 2006. Reporting in dollars, it trebled profits last year to $5.1 million (£2.75 million) and it looks like lifting the total by at least $2 million (£1 million) in 2007 as launch losses in Indonesia fall away. That would throw up earnings of between 15p and 16p per share, valuing the business on a forward p/e of no more than 11.8 times earnings – a substantial discount to competitors. The shares could add a further 50 per cent and still not look pricey in comparison with most of the other independent quoted TV production companies.

Dori is likely to expand its own broadcasting operations with the launch of new channels in Europe and Asia over the next couple of years. That will doubtless restrain profits growth. The Indonesian channel lost $1.5 million (£750,000) in its first year but the City is likely to take that into account and look at the underlying numbers. Dori is an exceptional growth stock in an attractive sector and the shares are a buy.

[papalpower] 09/8/2007 09:38

Just added DMG to the "Stocks on Low PER" thread as below ;

[simon14] 08/8/2007 12:49

Ive never left silver, just bieng patient. With some cracking results and a good outlook could see these put on a £1. I`ll wager you we see £3 before October.

[silverfern] 07/8/2007 22:49

Good to have you around again simon. Last r n s said the HOT agreement had to be finalised by 20 August, so they may announce on that date, though that would leave it late.

[simon14] 07/8/2007 19:51

Im looking forward to these.

[silverfern] 07/8/2007 17:44

results in the next week if same as last year.

[silverfern] 16/7/2007 08:34

Many thanks for that Nick.

[nickcduk] 16/7/2007 08:29

Got 1k more so far but will keep on plugging away. Should be a nice run up ahead of results in August now.

[nickcduk] 16/7/2007 08:27

Broker comment:-

Dori Media - BUY Price: 153p Target price: 253p Code: DMG.L Analyst: James Hollins | 020 7776 6571
Significant contract win, target upgrade

* Dori Media has announced that it has set up a new subsidiary, Dori Media Spike, to operate TV channels for Israel�s largest multi-channel platform, HOT. This is a substantial contract win and we are upgrading our FY08 forecasts and increasing our target price from 230p to 253p (65% potential upside).
* Dori Media Spike is 75% owned by Dori Media (remainder owned by Spike 2 K Communications) and will produce and operate HOT�s premium movie channels as well as other new and existing channels. HOT has a c.64% market share in Israel and is the sole Israeli cable operator.
* This agreement should dramatically increase Dori�s profile, providing direct access to the Hollywood studios, as well as enhancing cross-sell opportunities, notably into Dori�s dubbing and subtitling subsidiary.
* The three-year agreement should drive estimated total sales of between $52.5m and $67.5m ($17.5-22.5m annually).
* The contract is scheduled to commence on 1 January 2008 and we are therefore increasing our FY08 group revenue forecast by 50% (+$20.0m) from $40.3m to $60.3m.
* The new business is lower margin, but is forecast to increase group PBT in FY08 by 18% ($11.2m vs $9.5m). We are increasing our FY08 earnings estimate from 37.7c to 44.5c (+18%).
* On this basis, the shares are standing at 10.0x FY07E and 6.9x FY08E. This materially undervalues the group�s existing operations, as well as the strength of the three-year contract win announced this morning.
* We are upgrading our price target from 230p to 253p (+10%, target multiple of 11.4x FY08E) and retain our Buy recommendation.

Now its time to wade in and try and pick up a few shares. Not going to be easy but glad I picked some more up at 150p last week ;-).

[nickcduk] 16/7/2007 08:13

Fantastic contract news today. Just waiting for comment from Daniel Stewart to gauge how significant it is. Will look to add aggressively if they upgrade forecasts markedly.

[silverfern] 16/7/2007 08:12

Announcement today which is not flagged by ADVFN. This looks huge in regard to revenues!

"The deal is expected to generate revenues between US$17.5 and US$22.5 million a year or between US$52.5 and US$67.5 million over 3 years. The agreement also includes 3 terms of renewal up to 1 year each at HOT's option."

[silverfern] 03/7/2007 12:47

typical market fall on few sells

[silverfern] 22/6/2007 13:35

see that big dip and recovery from 2005 to 2007; see that same dip over a much shorter period this year. The next results should springboard the price again. I think results are due August

[simon14] 18/6/2007 14:05

There seems like the faintest signs of life returning now.Interims not far away.

[silverfern] 06/6/2007 08:46

ADVFN seem to miss these announcements - note the three parties involved in the dealings own over 70% of the company between them

[simon14] 17/5/2007 13:22

DS report.


Betty may be Ugly, but Dori is Beautiful

Dori Media has announced that it had a highly successful MIPTV conference in Cannes, driving material incremental group sales. Following the sale of content with an initial value of $1.97m at MIPCOM in Q4 2006, Dori has outperformed with sales of $2.60m in Cannes last month. The potential total sales may rise to $6.28m if further options are taken up by global broadcasters. We are leaving our forecasts unchanged, but retain our Buy recommendation and, based on higher visibility of earnings and potential upgrades to figures later in the year, we increase our target price from 192p to 230p (14.7x FY07E target multiple).



Dori demonstrating strength of formats and sales potential

Dori has once again demonstrated the quality of its broad Telenovela portfolio (>3,500 hour library), securing significant sales into prestigious broadcasters such as Sony (Spain) and into a wide range of territories including France, Russia and Mexico. Furthermore, MIPTV is regarded as a smaller potential market than MIPCOM and we expect additional progress later in the year from Dori's strong and effective sales and distribution team.



Forecasts unchanged, but risks firmly on the upside

The contracted and potential sales secured at MIPTV represent 9% and 23% of projected group annual sales (FY07E). At this stage of the year, following an upgrade in H2 2007 (see note 20 February 2007), we are leaving our forecasts unchanged, although today's news underpins our projections and leaves risks to forecasts firmly on the upside.



Recommendation unchanged, target price raised 20% to 230p

Our forecasts highlight the ongoing strength of the Telenovela industry, as well as Dori's strong position within the market. We are increasing our target price to reflect the recent top-line success, higher earnings visibility and upside risks to our forecasts.

[nickcduk] 17/5/2007 12:52

Daniel Stewart have come out with some positive noise this morning. They haven't upgraded their forecasts yet but expect to do so as the year progresses. They have also hiked their price target to 230p+.