11th Oct 2024 14:34
(Alliance News) - Centaur Media PLC on Thursday said it continues to review its market plans and maintain a focus on robust cost management, as it anticipates a decline in earnings before interest, tax, depreciation and amortisation for 2024.
The London-based business consultancy group said it expects Ebitda to fall amid high operational gearing on Xeim's lower revenue and a change in revenue mix.
The Xeim portfolio brings together Centaur Media's marketing brands to deliver business intelligence and learning to the marketing sector, according to Centaur Media's website.
Centaur Media expects revenue of at least GBP34 million in 2024, compared to GBP37.3 million in 2023.
Further, it anticipates an adjusted Ebitda margin of about 15%, sharply below the current analyst consensus range, and lower compared to 26% in 2023. "This revised expectation will also impact our revenue and profit expectations in 2025," the company highlighted.
"We continue to review our go-to-market plans and maintain a focus on robust cost management. We retain a cautious outlook and do not anticipate that trading conditions for the affected parts of our business will improve in the near term," Centaur Media said.
Further, the company said it appointed Martin Rowland as chair from October 28. Centaur Media noted that Rowland is currently executive director of Transformation of Carlisle, England-based agriculture and engineering company Carr's Group PLC, in which Harwood Capital has a 19.5% stake. Harwood Capital has a stake of 28.96% in Centaur Media.
Centaur Media shares were flat at 24.00 pence each on Friday afternoon in London.
By Tom Budszus, Alliance News slot editor
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