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i-design (IDG)

Business description

i-design is a specialist provider, via its propriety solution, joono, of software and marketing services for banks and ATM network owners worldwide to run both internal marketing campaigns and third-party advertising.

Share price chart

Share chart

Stock data

Market cap.£5.4m
Last close38.25p
High / Low (52 weeks)66.0p / 27.0p
Stock market listingAIM
Forecast net cash (£m)0.9
Forecast gearing ratio (%)N/A
TeamConsumer
SectorMedia & Entertainment

Price performance

%1m3m12m
Actual(15)(20.31)33.04
Relative *(10.83)(13.77)46.21

* % Relative to local index

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YouGov
Y/E Sep Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2010A 2.2 (0.9) (0.9) (5.0) N/A N/A
2011A 3.5 0.1 0.1 1.0 38.3 33.5
2012E 4.0 0.1 0.1 1.1 34.8 N/A
2013E 4.6 0.3 0.3 2.2 17.4 16.1

Last updated on 19/04/2012

Investment summary

On 16 April, i-design released a positive FY12 half-year trading update. Revenues are expected to be ahead of H111, benefiting from strong software sales. Following the move into profit in H211, the group expects to deliver a small pre-tax profit for the half year. This is in line with our expectations and provides comfort for our full-year estimates. Media sales bookings for the year are ahead of the same point last year. We initiated an FY13 EPS estimate of 2.2p on £4.6m revenues. i-design is well positioned to expand globally and has the potential to produce significant growth by adding new/up-scaled joono licensees and increasing media sales over the medium term.

Last updated on 23/04/2012

Industry outlook

i-design is establishing a strong footprint within the UK’s c 65,000 ATM market, and is making inroads overseas. US-based market research publisher Global Industry Analysts is predicting that the worldwide installed base of ATMs will reach 3.1m by 2015, up from an estimated 2.2m in 2009.

Last updated on 23/04/2012

Key management

Ana Stewart, CEO
Ian Sunter, FD

Company address

30 City Quay
Camperdown Street
Dundee
DD1 3JA
United Kingdom
+44 (0) 1382 323 000
View website



Sectors covered by Edison's research teams