Valuation23 Jun 2020 17:43
Current EV (post right issue and incoming disposal) is c.£130m.
Broker estimate Adj. EBITDA (average) for CY is £24m (5.4x) and FY21 is £65m (2.0x).
At 75p, multiples will be lower: 4.3x for CY and 1.6x for FY21.
Well, even at 90p a share, multiples are really low...