Winvia Ent Share Price (WVIA)

The new issue of SCSW is out, so this from the prior issue should be OK to post:

Https://www.scsw.co.uk/issues/june-2026/winvia-buys-rev-comps-in-eps-enhancing-deal/

"Winvia - Buys Rev Comps in EPS enhancing deal June 2026

Winvia has delivered maiden full-year results that underline why this is one of the most exciting stories in the small-cap space. On a proforma basis, sales jumped 23% to £170.3m, while EBITDA more than doubled to £31.2m. Pretax profit came in at £24m, delivering EPS of 21p. The final dividend is 5.9p.

The Online Gaming division (the Romanian operations) produced a robust EBITDA of £24.9m on revenues of £130m. Impressively, management successfully absorbed the significant step-up in Romanian online betting tax from last August through a 10% increase in active customers and continued progress in its B2B offering.

But the real excitement lies in the UK Prize Draw Competitions (PDC) business, which generated EBITDA of £9.6m (versus a pro-forma £4m in FY24) on net revenue that surged 40% to £40.3m. Active customers doubled to 1.7 million.

Crucially, the successful July launch of the subscription model is proving a game-changer. Subscriptions now account for 20% of sales, and CEO Mihai Manoilă is highlighting LTVs running at an excellent £8 for every £1 of acquisition spend.

Post year-end, Winvia has added more muscle in the PDC market by acquiring Rev Comps for £11.8m. Rev delivered ticket revenues of over £80m and pretax profit of £2.1m in the year to 31 May 2025. At c.5x pretax earnings, it is EPS enhancing, even before Winvia migrates it onto its proprietary platform - compared to returns from the existing PDC division.

Shore Capital forecasts EPS of 24.6p this year and 30.2p next. My target price remains 500p as guidance gets upgraded. Buy."

Good to see the post-results bounce continuing, and buying now at the full 250p offer price.

.wealthoracle.co.uk/company-results

Winvia's maiden post-IPO results showed revenue at £170.3m (FY24: £38.1m, reflecting only 20 days of Online Gaming) with adjusted EBITDA at £31.2m, in line with recently upgraded market expectations. Prize Draw active customers up 94% to 1.7m driven by the Click acquisition, marketing investment and the BOTB Pass subscription launch which now contributes over 20% of monthly BOTB revenue in Q1 FY26. Online Gaming active customers up 10% despite the Romanian gaming duty rising from 21% to 30%. Maiden dividend of 5.9p declared in line with IPO commitments. Net cash of £29.9m versus £36.6m net debt prior year, post £25.2m debt-to-equity conversion and £38.5m net IPO proceeds. Asset purchase agreement for Rev Comps announced 18 May. Q1 FY26 trading strong. IN-LINE

.wealthoracle.co.uk/company-results

Terrific results, and a bullish outlook for this year:

Https://uk.advfn.com/stock-market/london/winvia-entertainment-WVIA/share-news/Winvia-Entertainment-PLC-Final-Results/98558247

Shore Capital have a 400p fair value price target over 2 years.

Shore have adjusted their EPS forecasts slightly, perhaps due to tax. They now see 22.9p EPS this year, rising to 28.5p EPS next year. Plus 12.3p and 15.1p dividends respectively.

And they forecast a cash pile of £39.5m (38p per share) rising to £58.1m (55p per share).

On an EV/EBITDA of 5.9 falling to 4.9 WVIA looks pretty cheap, particularly given the "strong" Q1 trading and further likely earnings-enhancing acquisitions.

Shore Capital have left their forecasts for this and next year at 24.6p EPS rising to 30.2p EPS.

They note that they'll update their forecasts accordingly for today's acquisition.

I'm guessing that those forecasts will rise to around say 26p EPS and 32p EPS at minimum, with somewhat more potentially given the extensive synergy benefits which WVIA usually achieve.