Nice to have a +ve update from TRB for a change.
Now just maybe we could see a resurrection of a takeover attempt this year ? |
TRB – Tribal
4*
Tribal, a leading provider of software and services to the international education market, issued a positive update on trading for the year ended 31 December 2024 this morning. Tribal expects to deliver a positive trading performance in FY24 with adjusted EBITDA substantially ahead and revenue ahead of current market expectations. These are currently published as revenue of £85.6m, adjusted EBITDA of £14.4m, and Net Debt of £9.4m. EBITDA substantially ahead of £14.4m implies well into the £15m-£20m range which ...
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/TRB/1189 |
Continues to fall. Results soon |
Got around to watching that last night. I don't know the story.
What a bizarre situation that is.
So erm yeah...think I will leave this alone for now.
But as a point of note, the market keeps buying the bad news here. It has that lurch down and then it comes back to sit back at these levels so it all looks in the price.
Just a case of being patient for holders to see...erm...what happens? That is all too personal.
Nothing has been disclosed on what those prints were either.
A watch from the sidelines it is.
All imo
DYOR |
Streamed live on 15 Jan 2025
VOX Markets : The Exchange with Christopher Mills of Harwood Capital
26:00 Tribal Group |
Whoppers!
What is going on here?
This was tipped (edit: mentioned...tipped/mentioned?) recently as a takeover target
It needs to break 46p
15:50 update....
I think its Brummygit...think that is the username who mentioned this as takeover prospect. Paul Hill? Brummy Git?
Something to do with disposing of one division to allow a bid.
Looks like some big names holding. Ideally Harwood are adding here....the market will buy if that is the case.
I don't know the story here...anyone about? |
Not good! I am looking to get in but spread is crazy! |
25 million shares just went through. I guess someone is out! |
Small-Cap Investing with Paul Hill & Paul Scott
Streamed live on 3 Jan 2025
21:10 Water Intelligence & Tribal Group |
Still holding here! I cannot believe that Jenzabar chose to block the Ellucian offer but refused to make a firm offer for Tribal!! They cannot very happy with their holding the way it's going at the moment!! |
Tribal Group #TRB H124 results presentation given by management earlier this week.
hxxps://piworld.co.uk/company-videos/tribal-group-trb-half-year-results-presentation-august-2024/230;
Improving ARR, EBITDA & FCF. |
 Tech Market View - 20/8/24
Tribal moves on from NTU settlement with revenue up 5.2%
Education software and services provider Tribal Group has announced results for the first half of FY24 (ended 30 June 2024).
Group revenue for the six-month period was up 5.2% to £44.9m on a constant currency basis compared with H1 2023, driven by a 6.1% increase in Student Information Systems (SIS) revenue to £35.2m and cloud revenue climbing 26% to £6.3m – all growth figures improved (some significantly so) since the group’s FY23 results (see Tribal posts strong cloud growth, but NTU dispute still casts a shadow).
Although sales performance was impacted by a pause during the abandoned Ellucian offer period (see Ellucian to buy Tribal) and universities' caution, due to uncertainties over student numbers, Tribal’s ARR remained stable at £54.4m (with core product ARR increasing slightly to £52.1m, offsetting declines in non-core business). The company expects ARR to remain relatively flat through H2 2024, with its current pipeline of opportunities unlikely to close or deliver revenue by year-end.
Statutory profit after tax fell significantly by 68.9% to £1.4m (H1 2023: £4.7m), mainly due to £3.4m of exceptional costs (including £2.8m for the Nanyang Technology University (NTU) settlement agreement and associated legal fees, and £0.5m of restructuring costs).
Tribal has been focused on optimising its core Student Information Systems for cloud deployment and has also introduced a new industry-standard pricing model (the Higher Education Full-Service model - HEFS). It’s designed to help customers get more value from Tribal solutions (and lower their total cost of ownership) through licence bundling, combined with professional services effort targeted at reducing technical debt and templated solutions for end-to-end processes to ease cloud migration routes. The company expects to move customers onto HEFS by August 2025.
In conversation with TechMarketView, Tribal’s Mark Pickett (CEO) and Diane McIntyre (CFO) cited the company’s recent win at SOAS (one of its 34 customers now moving into the cloud) as illustrating the “reinvigoration” the company feels post-NTU, post-Ellucian offer (a “return to business as usual”). There remains over 70 customers Tribal is keen to work with, to move their solutions to the cloud – representing “a £20m cloud opportunity over the coming years”. |
Good morning lovely start for TRB and CRTM both rallying looks like we are in for a happy Friday |
Tribal Group (TRB) Full Year 2023 Results presentation - March 2024
Tribal Group CEO, Mark Pickett and CFO Diane McIntyre present results for the year ended 31 December 2023.
Watch the video here:
Or listen to the podcast here: |
The other institutions need to get together collectively and jump up and down |
This is being played Jenzabar block a 74p offer ! Denying holders that exit Can only assume they will look to offer for the balance they don't own at a lower price than that |
It could be a Playtech, it could be a Pendragon and a nice risk reward trade at this level... There was also the TechnologyOne interest, on which there was an interesting afr article. That story also gives very mixed messages re: how this plays out. |
Hhmm so Jenzabar is a pain thenThey must want a return on their investment or not ? Any idea what they have paid for their stake ?I wonder what the other institutions make of this situation - suspect they all well down and need a capital uplift Jenzabar are thus depressing the price by being there - what for a bit of sport ??All a bit weird |
Think the takeoever was blocked more because they didn't want Tribal to fall to a competitor than to make their own offer. They have said they won't bid themselves. Guess everyone would have their price but my understanding is the offer has lapsed and thats the end of it.
Seems very similar to PTEC - this as subject to a recommended bid around 680p before a group of asian investors bought a c20% stake to block it. Lots of chat about them bidding themselves or being expert investor who will be selling to a higher bidder etc. Current price 450p |
we don't know... also have an unknown with the Competition and Markets Authority which can do what they want.
Do you know the market stats for these systems in UK, on how concentrated the market is? |
At the right price I assume it gets taken over ? |
New to this. So the largest shareholder has recently blocked the right of other shareholders to accept an offer north of 70p per share.So what - all other shareholders are seemingly totally in the hands of JenzabarAssume they therefore think it is worth more and I note they further increased their stakeOr is having Jenzabar actually bad news for shareholders wanting a capital uplift / exit here |
Looks like the best bet might be to sell into the market, just in case the CMA block the deal or it drags on for months and months.
Tech Market View - 6/10/23
Ellucian to buy Tribal
Bignews in the HE EdTech space as US-based Ellucian announces an agreement to acquire UK-based Tribal Group, valuing the latter at a £159m market capitalisation (with an implied enterprise value of £172m).
Tribal
Tribal is best known for its SITS student information system (in use in over 1,500 universities worldwide), although its portfolio also includes tools for managing university admissions and apprenticeships, and a range of other services (such as quality assurance). Having returned to growth in 2021 (for the first time in five years – see Tribal returns to growth), Tribal continued to grow in 2022, albeit at below the education subsector average—maintaining the company’s Top 10 ranking amongst suppliers in the UK education SITS market (see TechMarketView’;s Public Sector Software and IT Services Suppliers, Trends and Forecasts 2023-26; our report focusing specifically on the education subsector will be published shortly).
Ellucian’s flagship product is its Banner student information system, although its products also cover a wide range of university management requirements—from HR and finance, to student and alumni relations. The company serves over 2,900 universities globally, although its presence in the UK ranks below Tribal (though still in our UK Education SITS Top 10).
Whilst the announcement talks of Tribal’s offerings helping to “enhance and expand [Ellucian’s] product capabilities” (with both focused on developing their cloud businesses), it’s also in geographical presence where the two will leverage a combined advantage. Between them, Tribal and Ellucian occupy the #1 and #2 spots respectively in the UK HE sector for student information systems, with a joint market share that would encompass a sizeable majority of institutions.
Understandably therefore, the proposed acquisition will be the subject of anti-competitive scrutiny by regulators, so all eyes now on the CMA. Watch this space! |
Tribal Group (TRB) Half Year Results presentation - August 23
Tribal Group CEO, Mark Pickett and CFO Diane McIntyre present Interim Results for the six months ended 30 June 2023.
Watch the video here:
Or listen to the podcast here: |
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