plus 500 analyst report aug 2014 : by david solomon
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Plus500 [PLUS]
[email protected] , www.solomon-capital.com
SOLOMONCAPITAL
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PLUS500 IPO - 24 Jul 2013
Market Cap £m 523 $m 2012 2013 YoY% 2014e YoY%Market Cap $m 879 Revinues 56.0 114 104% xxx xxxPE 17.4 EBITDA 23.2 67.2 190% xxx xxxPrice Change [From IPO] xx % EBITDA 41% 59% 42% xxx xxxPrice Change [From YTD] 47% Net profit 17.1 50.6 196% xxx xxxPE 2014e 10.6 EPS 10.46p 28.50p 171% xxx xxx
EV/EBITDA 2014 e xx
FAIR MARJER VALUE $m:
% UPSIDE xx
xxxx
Note : Strong outlook. In our view, within the next two years the company will increase its market share to about 10% of the UK CFDs
market and by 2016, company revenues will increase to about $200m, generating about $85m
AUG 2014