We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Equals Group Plc | EQLS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 127.50 | 16:35:19 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 127.50 | 127.00 | 129.00 | 127.50 | 127.50 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 12/09/2023 | Interim | GBP | 0.005 | 16/11/2023 | 17/11/2023 | 07/12/2023 |
| Top Posts |
|---|
Posted at 25/4/2024 15:02 by mcl1 The flip side of the high rates benefitting EQLS is it's a negative where valuations are concerned for Private Equity. If rates stay higher for longer then their bar is raised as to expectations from any proposed takeover,or the takeover price lowered.The interest rate picture has changed drastically in the US since November when 6 cuts were forecast, to barely any now, so perhaps this is weighing on the share price as it doesn't seem to reflect two interested parties. |
Posted at 25/4/2024 08:35 by fft EQLS features on Mello results special today starting at 1pm along with many other companies.Its free. |
Posted at 19/4/2024 16:00 by 74tom I was listening to an old VOX podcast from December with Paul Jourdan of Amati; Equals is briefly discussed alongside Alpha FX. Paul said something interesting that prompted me to start digging into the accounts of EQLS. 'obviously they have benefitted a lot from the rise in interest rates, so that's now flowing through and that's been a big part of their profitability' Anyone find it curious that they haven't disclosed how much interest income they have earned since the 2019 accounts? There hasn't been so much as a word on it as far as I can see? In 2019 they said; "Included in this segment is interest earned on house funds. Given the low interest rates and certain regulatory restrictions governing the deposits on which the Group can earn interest, the Group earned a total of £150k in interest during the year (2018: £145k). At 31 December 2019 the Group had fiduciary responsibility for a total of £52.4 million in bank accounts not included in the Group's consolidated balance sheet (31 December 2018: £48.0 million). Interest income has been included in the segmental revenue where earned." 2019 was also when they last mentioned off balance sheet funds; "The funds attributable to customers are shown as memorandum item. Consistent with 2018, these funds, held on behalf of customers of both CardOneBanking and International Payments have been excluded from the balance sheet following legal advice received in connection with the risks and rewards to the Group. Nevertheless, these funds remain within the fiduciary obligations of the Directors and are included in the table above as an 'aide-memoire'. It is notable that these balances grew by 9.2% to £52.4 million up from £48.0 million at 31 December 2018. This reflects the growth of the underlying use of the Group's platforms." -------------------- If they had £52.4m in off balance sheet funds at the end of 2019, when international payments earned them just shy of £12m in revenue on £1.2b of transaction flows, what is that balance now, given international payments earned them £39m last year (which if revenue margin has stayed consistent at 0.76% since they last disclosed it in 2020, would mean transaction flows of some £4.5b)? Even at an average of £100m per day earning 4% interest, that would equate to nearly 50% of last years PBT... But could it be significantly higher than this? Absolutely, looking at the group underlying transaction value of £12.6b in FY23 vs £2.8b in 2019... Does this potentially explain the riddle as to why EQLS is up for sale? Hmmm. I certainly found it interesting! |
Posted at 16/4/2024 15:05 by anon12345 They're going to blow past FY24 estimates (£23M EBITDA). Solutions is already doing £50M per year, at 60% gross margins, growing 70% y-o-y, and that doesn't reflect Europe which should start ramping later this year. With this momentum and scalability it is easy to see them hitting £150m revenue and £50m EBITDA in a few years, at which point market cap should be at least 150% higher than today.I assume the sticking point in takeover is that EQLS BoD / management can see a very viable path to that £50m EBITDA and a >£3 per share stock price within a couple years, whereas Madison Dearborn isn't willing to pay for the growth. |
Posted at 16/4/2024 13:48 by aishah Full text:#EQLS The UK has just emerged from a 6 month technical recession. Yet despite this headwind, international B2B payments & fintech platform @equals__money today reported YTD’24 revenues up an impressive 30% to £31.9m after posting +37% in FY23 (£95.7m). Here YTD growth has been delivered across all product lines with special mention to Solutions (+74% to £13.2m) which supports larger corporate clients. Elsewhere sales per working day jumped 27% to £443k vs LY and 5% higher than Q4’23. Just think what @equals__money might achieve when the economic climate improves? Better still, this top line momentum is generating economies of scale with adjusted FY23 EBITDA margins widening 4.1% to 21.5%. Representing a ‘drop through’ rate of 23.5% - even after major investments in new services, headcount, compliance and geographical expansion (eg EU). Interestingly too, gross margins also climbed sequentially to 57% in H2’23 vs 47% H1’22, 49% H2’22 & 52% H1’23. And also leaving the group with plenty of fire-power for potential strategic M&A (where necessary) and future dividends (1.5p/share) with cash balances closing 12th Apr’24 at £21.6m vs £18.7m in Dec’23. So how does this YTD performance compare to current FY24 consensus? Well to me, the 30% top line growth appears to be ‘at least’ in line with analyst FY’24 turnover estimates of £112m (+17%). Indeed assuming the UK economy continues to recover, then I’d say there’s a decent chance of upgrades as the year progresses. Nonetheless, most investors eyes are presently focused on the ongoing Strategic Review, where the next PUSU deadline ends tomorrow at 5pm. My fair value for the stock remains at a conservative 165p/share (@CG_Driven 176p) until new guidance is available. CEO Ian Strafford Taylor, commenting: "The outlook for the business remains strong. In addition, the addressable market is now significantly greater with our expansion into Europe and increased distribution channels. @equals__money has created a payments platform comprising international and domestic payments, card payments and current account services underpinned by exceptional technology and direct connections to multiple payment network.” Disclosure: I own @equals__money |
Posted at 11/4/2024 10:42 by daveme A nice tick up this morning. Only 2 full market days before next Tuesday's results and most likely the outcome of the 'strategic review'. Remember at least 2 companies are in the frame for buying EQLS. We all like a bidding war! |
Posted at 21/3/2024 08:16 by mr stephens Aim-traded fintech payments group Equals (EQLS:118p), a fast-growing challenger brand in banking and international payments, days as a listed entity look numbered after it attracted bid interest from another party.A consortium comprising Embedded Finance and TowerBrook Capital has made an indicative non-binding proposal regarding a possible offer for the whole company. This follows a strategic review that has led to ongoing takeover discussions with Madison Dearborn Partners. The Takeover Panel has given Madison an extended deadline of 17 April to either make an offer for Equals or declare that it doesn’t intend to. Equals releases annual results the day before the deadline, which will make for a good read. That’s because Equals has been disrupting traditional banks by focusing on small and medium-sized enterprises (SMEs). Investment in a cutting-edge technology platform, digital marketing initiatives and bolt-on acquisitions have expanded its offering and addressable market, which is driving a strong earnings Riding a robust earnings cycle MOST READ Small Companies March 20, 2024 Bidding war for Equals Group heats up In a trading update ahead of the annual results, the board revealed that revenue has risen 28 per cent to £22.2mn in the first 11 weeks of 2024 and that’s after the group delivered 37 per cent higher revenue of £95.5mn in 2023. The operational gearing of the business means that in a positive sales cycle, profits outpace the revenue growth, hence why analysts forecast 65 per cent higher adjusted cash profits of £20mn in 2023. On this basis, earnings per share (EPS) more than doubles to 6.3p. Cash is building, too. Equals started this year with £20.6mn of net cash, up 37 per cent year-on-year, and that’s after investing £7mn on acquisitions, earn-outs and a maiden dividend during 2023. Furthermore, with cash profit expected to rise to at least £23mn in 2024, the group’s impressive cash generation means that the cash pile could easily increase to £33-£35mn by the year-end. Strip out cash from Equals’ £221mn market capitalisation and its current £200mn enterprise valuation equates to less 8.7 times current year cash profit estimates. So, having selected the shares, at 119p, as one of my 2024 takeover targets (‘Four small-cap takeover targets to exploit’, 8 December 2023), it now looks increasingly likely that Equals will be bid for in the coming weeks. An offer for the company around 175p a share seems fair valuation to me, or 45 per cent above the current price. It would also deliver a 127 per cent gain on my 77p recommended entry price (Alpha Research: ‘A high tech fintech payments opportunity’, 8 April 2022). Buy. |
Posted at 02/1/2024 08:17 by earwacks Firstly Agfx maybe competitors to a degree but certainly not in the same league as eqls. Agfx have lost two founder directors. The first allegedly to Covid and then ‘long Covid’ . Hardly justified the fire sale of all his shares12 million shares. Then his successor fell on his sword closely followed by the CFO, soon after a warning on a slow down. Compare that to a company that has upgrade results and confidently now trades in line. They were also proud to declare how they look after valued staff in troubled times. Then we come to the business, the breakthrough into Europe, increasing margins and the ability to increase pricing in a competitive market. Deer won’t be the only company interested in Eqls but it will be a good exercise in valuing the business and who might actually be the best fit. I feel a sell out is more likely than not now, but as stated by others it will take time for those interested to decide what eqls is worth to improving their own business. |
Posted at 09/11/2023 07:12 by masurenguy Declaration of Maiden Interim DividendEquals Group is pleased to announce that further to the announcements on 12 September 2023 and 1 November 2023 regarding the proposed reduction in share premium account, the Board is pleased to declare a maiden interim dividend of 0.5p per share. Furthermore, it expects that, subject to shareholder approval, the final dividend for the 2023 financial year will be 1.0p per share, giving a total dividend of 1.5p for 2023. The Board is confident that the payment of a dividend will not compromise the Group's ability to execute on its strategic objectives. The Board will continue to prioritise the strong balance sheet that allows the Group to invest in Equals' technology platform, payments infrastructure, licences and connectivity whilst retaining an ability to pursue selective acquisitions in order to accelerate its strategic development. The dividend of 0.5p per share will be payable to shareholders on the register as at 17 November 2023, an ex-dividend date of 16 November 2023 and a payment date of 7 December 2023. |
Posted at 20/1/2023 04:14 by carcosa Seems to me there is often a debate that surrounds the difference between the needs of a growing business and the desires of investors. Growing a business takes years whilst many retail investors have a timeline of weeks, months, a year if lucky.Discussion from investors on boards such as ADVFN often goes along the line of the directors should be buying more shares, institutions should never sell, Directors getting overpaid (salary/LTIP's etc), need better brokers, better press coverage, more RNS's better PR, be traded on other exchanges and... should start paying dividends. All of which are aimed at manipulating the share price and not really doing anything for the business itself. Fact of the matter is Equals have yet to make consistent profits let alone high FCF. Until consistent profits occurs a dividend is out of the question especially when returns are greater from investing in the business than a dividend payout. What is worse is that even if it's a nominal dividend, should the business environment change and they have to stop paying even a nominal dividend, then it tends to have a disproportionate negative effect on the share price wiping out the value of several years of dividends. Am also not convinced that a nominal dividend is meaningful. Even if it allows a new institution to use it as an excuse to buy in then. Academic research shows that institutions typically prefer non dividend paying companies that engage in larger share buybacks, whereas retail investors are the exact opposite. The ability to grow a company above 100m/250m/500m market cap is more significant for institutions than a dividend and the larger the company grows the more institutional investors become interested. Around the current market cap there is simply not enough shares for most institutional buyers to be interested. So that leaves the door open for further placings i.e. dilution to occur or secondary placings (which really is unlikely to happen given EQLS shareholding base). When Crystal Amber had to sell their holding I thought it would go to an institutional buyer but am not sure that entirely happened. Incidentally do Crystal Amber still hold any shares; according to their website they had <3% end September 2022? We now have the prospect that Downing Strategic will be a forced seller of their holding (1.8m shares??) in late 2024 If and when a dividend is paid out it has to be accompanied with a dividend policy statement e.g a percentage of FCF or some such metric which implies a progressive dividend. Just having a year after year dividend yielding 1% does no one any favours. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
