Ebiquity (LON:EBQ) – encouraging first-half update shows shares are cheap

Mark Watson-Mitchell
Aug 8
2 min read

08.08.2025

This £33m-capitalised group, which is a world leader in media investment analysis, yesterday announced a Half-Year Trading Update to end-June.

H1 2025 group revenue is expected to be £37.9m, in line with the prior year (£37.9m).

Excluding North America, the group delivered revenue growth of 5% compared to the prior year (6%).

Total group adjusted H1 2025 operating profit is now expected to be approximately £2.6m, representing strong 10% year-on-year growth (£2.3m) and 11% year-on-year growth, with an improved adjusted operating margin of 6.8% (6.2%).

CEO Ruben Schreurs stated that:

"H1 2025 has demonstrated the underlying resilience of our international business, with strong growth across our key regions outside North America.

We continue to monitor the challenging US macroeconomic environment closely and our global operations position us well for continued progress.

I am confident that the actions that we are taking will deliver improved returns going forward."

With ‘feet on the ground’ in the world’s 18 largest media markets, this company combines unmatched local know-how and established, centralised best practices to offer analysis and insights that advertisers cannot find anywhere else.

It harnesses the power of data to provide independent, fact-based advice, enabling brand owners to perfect media investment decisions and improve business outcomes.

Ebiquity is able to provide independent, unbiased advice and solutions to brands because we have no commercial interest in any part of the media supply chain.

The group is a data-driven solutions company helping brand owners drive efficiency and effectiveness from their media spend, eliminating wastage and creating value.

It provides analysis and solutions through four Service Lines: Media management, Media performance, Marketing effectiveness and Contract Compliance.

The company’s clients are served by more than 575 media specialists, covering 80% of the global advertising market.

The business has the most comprehensive, independent view of today's global media market, analysing over $100bn of media spend and contract value from over 123 countries annually, including trillions of digital media impressions.

As a result, over 75 of the world's top 100 advertisers today choose Ebiquity as their trusted independent media advisor.

Looking for a second-half acceleration in the group’s business, analyst Andrew Renton, at Cavendish Capital Markets, has a massive 78p Target Price out on its shares.

He estimates that the year to end-December will show £80.4m (£76.8m) revenues, raising adjusted pre-tax profits to £7.1m (£6.5m), and generating 3.5p (3.2p) per share in earnings.

Although the shares have eased back from the 23p level at which I last featured this company, they are now 19.25p, I consider that its shares could well lift 50% in price within the next year or so, and even then, still look cheap considering its market position within its sector.

I remain totally confident of achieving my recent Target Price of 28.5p.

The Interim Results are due to be announced on Monday 29^th September.