This consensus has been compiled by Network International Holdings plc (the Group) as of 4th October 2022, from forecasts provided by registered investment analysts. These forecasts are provided for information purposes only and are not endorsed by the Group, nor does the Group assume any obligation to update or revise the consensus to reflect circumstances after the date specified above.
The forecasts provided below reflect estimates for Network International.
The forecasts represent an average of those published by registered investment analysts, from a sample size specified below.
|y/y revenue growth1||28%||18%||18%|
|y/y EBITDA growth||25%||24%||24%|
|Underlying EBITDA margin**||40.4%||42.5%||44.5%|
|y/y margin expansion||211bps||204bps||201bps|
|Underlying net income***||86||117||156|
|Underlying EPS (USD cents)||15.6||21.7||29.1|
|y/y Underlying EPS growth||37%||39%||34%|
|Total capital expenditure****||(60)||(58)||(66)|
|Specially Disclosed Items*****||(11)||(9)||(8)|
|No of estimates contributing||9||9||9|
1. 2022 y/y revenue growth based on Network only revenue of USD345m, in line with guidance
*Underlying EBITDA: is defined as earnings from continuing operations before interest, taxes, depreciation and amortisation, write-off of unamortised debt issuance cost, share of depreciation of an associate and specially disclosed items affecting EBITDA.
**Underlying EBITDA margin : is defined as underlying EBITDA excluding TG cash associate contribution, divided by total revenue.
Underlying Net Income: represents the Group’s profit from continuing operations adjusted for write-off of unamortised debt issuance cost and specially disclosed items.
***Specially disclosed items: are items of income or expenses that have been recognised in a given period which management believes, due to their materiality and being one-off / exceptional in nature, should be disclosed separately, to give a more comparable view of the period-to-period underlying financial performance.
Total capital expenditure: estimates include core maintenance capital expenditure, plus capital expenditure for growth accelerator and other strategic projects.
Underlying free cash flow is calculated as underlying EBITDA adjusted for changes in working capital before settlement related balances, taxes paid, total capital expenditure, SDI affecting EBITDA and adjustment for share of EBITDA of associate, less dividend.
Analysts covering Network International
|Credit Suisse||Justin Forsythe|
|Exane BNP Paribas||Alexandre Faure|
|Goldman Sachs||Mohammed Moawalla|
|JP Morgan||Sandeep Deshpande|
|Morgan Stanley||Alastair Nolan|