Winvia Entertainment – ahead of its Interims, due within days, I stick firmly to my 300p Target Price, shares now 242p

Mark Watson-Mitchell – 24.09.2026

Within days we should be seeing an announcement from Winvia Entertainment (LON:WVIA) declaring its Interim Results for the first half of its 2026 Trading Year.

I expect the figures to be good and the accompanying statement should be positive enough to kick the group’s shares up in reaction.

The £254m-capitalised group is a technology-led entertainment business, focused on two discrete fast-growing channels, being the large and highly fragmented UK Prize Draw market and the regulated Romanian online gaming market. 

Underpinning both channels is the proprietary Technology Platform, which has a track-record of supporting growth and operational improvement.

It is the second largest (by market share) Prize Draw operator in the UK (London Economics report for the Department for Media, Culture and Sport, June 2025) where players play for a range of prizes including cars, luxury watches, holidays, gadgets, properties and other items.

In its early-August issued Trading Update the group inferred that growth in prize draw competitions and online gaming helped to drive better results for the period.

At Shore Capital Markets, analyst Greg Johnson believes the group’s rapid subscription growth is setting the stage for margin and value accretion.

“Winvia's H1 FY26F trading update was strong, demonstrating excellent strategic progress in the period and in line with management’s stated plans, with H1 EBITDA expected to be around £17.2m, which compares with pro forma £16.0m in the corresponding period last year and our full year estimate of £37.1m.”

For the year to end-December, his estimates are for revenues of £217.2m (£170.3m), with adjusted pre-tax profits of £30.2m (£23.9m), with earnings of 21.7p (21.2p) and paying a dividend of 12.3p (5.9p) per share.

For 2027, he sees £260.3m revenues, £39.8m profits, 28.9p earnings and a 15.1p per share dividend.

Looking further ahead, Johnson estimates that the 2028 year will see £287.0m revenues, £45.5m profits, 33.1p earnings and paying a dividend of 18.0p per share.

My View

Winvia has a very low valuation, especially given the cash flows generated by its activity.

The shares, which were up to 285p earlier this year, and are now at 242p, are as 'cheap as chips', which I suppose is appropriate for a gaming business.

I stick firmly to my 300p Target Price.

(Profile 18.05.26 @ 225p set a Target Price of 270p*) 

(Profile 25.06.26 @ 245p set a Target Price of 300p)