Details for (ERM) / Market data / Selftrade

EUROMONEY INST.

(ERM GB0006886666 GBX)

Value 720.000

Change Today -15.00

Updated17/05 16:35

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PROFILE

Registered Number	954730
Registered Address	Nestor House Playhouse Yard London EC4V 5EX
Phone Number	+44 (0) 207 7798888
Fax Number
Website	http://www.euromoneyplc.com
Activities	Publishes and distributes financial magazine law tax and specialist journals and provides capital market databases and information services
Country of Register	GB
Currency	GBX
Short Name	EUROMONEY INST.
First Day Traded	18/10/2006
Industrial Sector	Publishing
Number of shares	121m

Key People

Padraic Fallon	Chairman
Peter Ensor	Managing Director
Patrick Sergeant	Non Executive Director
Simon Brady	Director
Viscount Rothermere	Non Executive Director
Neil Osborn	Director
Jane Wilkinson	Director
Colin Jones	Financial Director
Christopher Fordham	Director
Daniel Cohen	Director
Diane Alfano	Director
Gary Mueller	Director
Adrian Perry	Non Executive Director

Major Shareholders

Daily Mail & General Trust Plc	67.92%
Threadneedle Asset Management Ltd.	2.56%

Director Deals

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Income Statements £1K

	AR 2007	AR 2008	AR 2009	AR 2010	AR 2011
Fiscal Year End	30/09/2007	30/09/2008	30/09/2009	30/09/2010	30/09/2011
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Sales/Revenue	305.15	332.06	317.59	330.01	363.14
Cost of Goods Sold (COGS) incl. D&A	92.17	102.65	89.16	85.40	94.88
COGS excluding D&A	73.58	86.93	70.47	68.80	79.71
Depreciation & Amortization Expense	18.59	15.72	18.69	16.60	15.17
Depreciation	2.59	2.76	2.54	2.69	2.65
Amortization of Intangibles	16.01	12.96	16.15	13.91	12.52
Amortization of Deferred Charges	0	0	0	0	0
Gross Income	212.98	229.42	228.43	244.60	268.26
Selling, General & Administrative Expense	161.66	166.21	165.13	162.58	187.60
Research & Development	0	0	0	0	0
Other Selling, General & Administrative	161.66	166.21	165.13	162.58	187.60
Other Operating Expense	0	0	0	0	0
Non Operating Income/Expense	8.01	-5.27	-33.10	-1.40	-2.18
Non-Operating Interest Income	4.54	4.42	0.90	0.22	0.31
Equity in Affiliates (Pretax)	0	0	0	0	0
EBIT	0	0	0	0	0
Unusual Expense	5.93	5.74	34.89	0.09	3.96
EBIT after Unusual Expense	0	0	-34.89	-0.09	0
Interest Expense	17.31	19.51	13.79	9.61	7.05
Gross Interest Expense	17.31	19.51	13.79	9.61	7.05
Interest Capitalized	0	0	0	0	0
Pretax Income	40.64	37.12	-17.58	71.14	67.79
Income Tax	8.22	-7.28	-10.41	12.84	22.53
Income Tax - Current Domestic	5.44	-1.37	0.89	1.78	3.31
Income Tax - Current Foreign	6.34	5.27	-3.02	12.07	12.36
Income Tax - Deferred Domestic	-3.56	-11.17	-8.29	-1.02	6.86
Income Tax - Deferred Foreign	0	0	0	0	0
Income Tax Credits	0	0	0	0	0
Minority Interest Expense	1.58	1.23	0.55	0.48	0.08
Equity in Affiliates	0.49	0.31	0.22	0.28	0.41
Other After Tax Income (Expense)	0	0	0	0	0
Net Income	31.32	43.47	-7.49	58.11	45.59
Extraordinaries & Discontinued Operations	0.50	0.25	1.21	0	0
Extra Items & Gain/Loss Sale Of Assets	0	0	0	0	0
Cumulative Effect - Accounting Chg	0	0	0	0	0
Discontinued Operations	0.50	0.25	1.21	0	0
Net Income After Extraordinaries	31.82	43.72	-6.29	58.11	45.59
Preferred Dividends	0	0	0	0	0
Net Income available to Common	31.32	43.47	-7.49	58.11	45.59
Operational EPS	33.82	44.10	15.07	49.53	39.61
EPS (basic)	31.16	41.92	-5.73	50.04	38.02
EPS (diluted)	29.86	40.37	-6.67	49.47	37.34
EBITDA	69.92	78.92	81.99	98.62	95.84
EBIT	0	0	0	0	0
+Depreciation & Amortization Expense	18.59	15.72	18.69	16.60	15.17

Balance Sheet £1K

	AR 2007	AR 2008	AR 2009	AR 2010	AR 2011
Fiscal Year End	30/09/2007	30/09/2008	30/09/2009	30/09/2010	30/09/2011
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Cash & Short Term Investments	34.80	22.66	13.11	14.10	15.17
Cash Only	26.71	21.21	12.55	12.08	14.05
Short-Term Investments	8.09	1.45	0.57	2.02	1.13
Total Accounts Receivable	59.27	219.08	57.87	54.36	71.43
Accounts Receivables, Net	50.87	49.69	40.23	42.29	51.14
Accounts Receivables, Gross	50.87	56.29	48.42	50.33	58.84
Bad Debt/Doubtful Accounts	0	-6.59	-8.19	-8.04	-7.70
Other Receivables	8.41	169.39	17.64	12.07	20.29
Inventories	0	0	0	0	0
Finished Goods	0	0	0	0	0
Work in Progress	0	0	0	0	0
Raw Materials	0	0	0	0	0
Progress Payments & Other	0	0	0	0	0
Other Current Assets	8.19	7.76	7.44	8.45	9.79
Prepaid Expenses	0	0	0	5.95	8.28
Miscellaneous Current Assets	8.19	7.76	7.44	2.50	1.51
Total Current Assets	102.26	249.50	78.43	76.91	96.39
Net Property, Plant & Equipment	20.92	21.66	19.75	19.49	20.39
Property, Plant & Equipment - Gross	37.33	41.53	40.20	41.86	44.84
Buildings	5.05	6.36	6.38	6.45	6.45
Land & Improvements	0	0	0	0	0
Machinery & Equipment	0	0	0	0	0
Construction in Progress	0	0	0	0	0
Leases	16.77	17.83	17.95	18.10	18.79
Computer Software and Equipment	0	0	0	0	0
Leased Property	0	0	0	0	0
Transportation Equipment	0.01	0.01	0.01	0	0
Other Property, Plant & Equipment	15.51	17.34	15.86	17.31	19.60
Accumulated Depreciation	16.41	19.87	20.45	22.37	24.45
Buildings	0.02	0.04	0.12	0.20	0.28
Land & Improvements	0	0	0	0	0
Machinery & Equipment	0	0	0	0	0
Construction in Progress	0	0	0	0	0
Leases	0	0	0	0	0
Computer Software and Equipment	0	0	0	0	0
Leased Property	0	0	0	0	0
Transportation Equipment	0.01	0.01	0.01	0	0
Other Property, Plant & Equipment	11.90	14.06	13.10	14.33	15.30
Total Investments and Advances	0.25	0.67	0.78	0.62	0.22
LT Investment - Affiliate Companies	0.25	0.30	0.21	0.25	0
Other Long-Term Investments	0	0.37	0.57	0.37	0.22
Long-Term Note Receivable	0	0	0	0	0
Intangible Assets	380.02	407.58	425.65	422.71	490.04
Net Goodwill	248.14	272.10	291.34	297.62	336.63
Net Other Intangibles	131.89	135.48	134.31	125.09	153.41
Other Assets	0.36	2.53	0	0	0
Deferred Charges	0.36	2.53	0	0	0
Tangible Other Assets	0	0	0	0	0
Total Assets	515.33	698.40	543.08	540.54	620.26
ST Debt & Curr. Portion LT Debt	17.73	193.21	6.20	2.93	61.68
Short Term Debt	17.73	1.03	0.48	0.89	3.17
Current Portion of Long Term Debt	0	192.17	5.72	2.04	58.52
Accounts Payable	4.00	5.49	3.75	3.36	5.56
Income Tax Payable	9.68	2.56	6.14	10.84	8.04
Other Current Liabilities	88.94	269.56	125.95	83.28	89.66
Dividends Payable	0	0	0	0	0
Accrued Payroll	0	0	0	0	0
Miscellaneous Current Liabilities	88.94	269.56	125.95	83.28	89.66
Total Current Liabilities	120.35	470.81	142.04	100.42	164.95
Long-Term Debt	213.56	0	171.40	137.91	71.54
Long-Term Debt excl. Capitalized Leases	213.56	0	171.40	137.91	71.54
Non-Convertible Debt	213.56	0	171.40	137.91	71.54
Convertible Debt	0	0	0	0	0
Capitalized Lease Obligations	0	0	0	0	0
Provision for Risks & Charges	0.38	3.51	3.96	5.56	7.30
Deferred Taxes	20.14	11.43	3.30	3.31	9.01
Deferred Taxes - Credit	31.65	27.89	21.78	24.12	22.23
Deferred Taxes - Debit	-11.51	-16.46	-18.47	-20.82	-13.22
Accumulated Minority Interest	3.50	3.02	0.99	0	5.84
Other Liabilities	93.60	108.13	98.91	103.04	128.67
Deferred Tax Liability-Untaxed Reserves	0	0	0	0	0
Other Liabilities (excl. Deferred Income)	20.22	18.65	16.31	9.30	23.16
Deferred Income	73.38	89.49	82.60	93.74	105.51
Total Liabilities	459.55	610.34	438.08	371.05	394.67
Non-Equity Reserves	0	0	0	0	0
Preferred Stock (Carrying Value)	0	0	0	0	0.01
Redeemable Preferred Stock	0	0	0	0	0.01
Non-Redeemable Preferred Stock	0	0	0	0	0
Preferred Stock issues for ESOP	0	0	0	0	0
ESOP Guarantees - Preferred Stock	0	0	0	0	0
Common Equity (total)	52.29	85.05	104.01	169.48	219.73
Common Stock Par/Carry Value	0.26	0.26	0.28	0.30	0.30
Additional Paid-In Capital/Capital Surplus	38.51	38.58	52.45	66.08	82.12
Retained Earnings	-69.98	-36.92	-42.51	0.05	16.22
ESOP Debt Guarantee	-0.07	-0.07	-0.07	-0.07	-0.07
Cumulative Translation Adjustment/Unrealized For. Exch. Gain	-15.34	17.11	44.73	45.90	55.22
Unrealized Gain/Loss Marketable Securities	0	0	0	0	0
Revaluation Reserves	0	0	0	0	0
Other Appropriated Reserves	98.90	1.11	-15.85	-7.76	65.95
Unappropriated Reserves	0	64.98	64.98	64.98	0
Treasury Stock	0	0	0	0	0
Total Shareholders' Equity	52.29	85.05	104.01	169.48	219.74
Liabilities & Shareholders' Equity	515.33	698.40	543.08	540.54	620.26

Cash Flow £1K

	AR 2007	AR 2008	AR 2009	AR 2010	AR 2011
Fiscal Year End	30/09/2007	30/09/2008	30/09/2009	30/09/2010	30/09/2011
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Net Income before Extraordinaries	54.06	61.03	26.96	82.08	77.77
Depreciation, Depletion & Amortization	18.59	15.72	18.69	16.60	15.17
Depreciation and Depletion	2.59	2.76	2.54	2.69	2.65
Amortization of Intangible Assets	16.01	12.96	16.15	13.91	12.52
Deferred Taxes & Investment Tax Credit	0	0	0	0	0
Deferred Taxes	0	0	0	0	0
Investment Tax Credit	0	0	0	0	0
Other Funds	-19.61	-12.31	21.87	-5.14	-15.88
Funds from Operations	53.04	64.44	67.52	93.53	77.06
Extraordinaries	0	0	0	0	0
Changes in Working Capital	12.33	16.92	-1.74	-3.64	8.18
Receivables	-11.57	3.22	15.98	-3.49	-7.46
Inventories	0	0	0	0	0
Accounts Payable	23.90	13.70	-17.73	-0.15	15.65
Income Taxes Payable	0	0	0	0	0
Other Accruals	0	0	0	0	0
Other Assets/Liabilities	0	0	0	0	0
Net Operating Cash Flow	65.36	81.36	65.78	89.89	85.24
Capital Expenditures	8.00	4.40	1.41	3.44	2.67
Capital Expenditures (Fixed Assets)	8.00	4.24	1.26	3.11	2.11
Capital Expenditures (Other Assets)	0	0.16	0.15	0.33	0.56
Net Assets from Acquisitions	-169.91	-6.55	-19.89	-16.74	-64.77
Sale of Fixed Assets & Businesses	15.88	2.85	0.02	0.04	0.10
Purchase/Sale of Investments	-0.01	1.59	0	0	0
Purchase of Investments	-0.01	0	0	0	0
Sale/Maturity of Investments	0	1.59	0	0	0
Other Uses	0	0	-1.81	-0.72	-0.03
Other Sources	0	0.25	1.26	0	0
Net Investing Cash Flow	-162.03	-6.27	-21.82	-20.86	-67.38
Cash Dividends Paid - Total	-18.11	-19.95	-6.77	-3.81	-6.12
Common Dividends	-18.11	-19.95	-6.77	-3.81	-6.12
Preferred Dividends	0	0	0	0	0
Change in Capital Stock	0.43	0.07	0.01	1.32	0.72
Repurchase of Common & Preferred Stk.	0	0	0	0	0
Sale of Common & Preferred Stock	0.43	0.07	0.01	1.32	0.72
Proceeds from Stock Options	0.43	0.07	0.01	1.32	0.72
Other Proceeds from Sale of Stock	0	0	0	0	0
Issuance/Reduction of Debt, Net	110.90	-50.34	-35.65	-36.57	-8.50
Change in Current Debt	0	0	-0.55	0.41	0
Change in Long-Term Debt	110.90	-50.34	-35.10	-36.98	-8.50
Issuance of Long-Term Debt	251.30	171.22	83.90	79.59	498.07
Reduction in Long-Term Debt	-140.40	-221.56	-119.01	-116.57	-506.57
Other Funds	-1.51	-7.65	-12.77	-30.87	-2.75
Other Uses	-1.51	-7.65	-35.86	-30.87	-3.64
Other Sources	0	0	23.09	0	0.89
Net Financing Cash Flow	91.70	-77.87	-55.19	-69.93	-16.65
Exchange Rate Effect	-0.52	2.18	2.57	0.43	0.09
Miscellaneous Funds	-0.00	0.00	0.00	0.00	-0.00
Net Change in Cash	-5.49	-0.60	-8.67	-0.47	1.31
Free Cash Flow	39.25	57.17	57.75	82.98	77.01

Analysis Data

	2007	2008	2009	2010	2011
Fiscal Year End	2007-09-30	2008-09-30	2009-09-30	2010-09-30	2011-09-30
Valuation
Market Capitalisation	544.72	342.23	424.66	723.99	745.67
Price/Earnings	16.98	7.75	0.00	12.21	16.18
Price/Sales	1.77	1.02	1.29	2.15	2.03
Price/Book Value	10.42	4.02	4.08	4.27	3.39
Price/Cash Flow	8.49	4.30	6.38	7.98	8.81
Enterprise Value/EBIT	14.71	8.28	9.24	10.29	10.85
Enterprise Value/EBITDA	10.80	6.63	7.13	8.56	9.13
Enterprise Value/Sales	2.47	1.58	1.84	2.56	2.41
Total Debt/Enterprise Value	0.31	0.37	0.30	0.17	0.15
Total Debt/EBITDA	3.31	2.45	2.17	1.43	1.39
EPS (basic)	31.16	41.92	-5.73	50.04	38.02
EPS (diluted) as stated	29.86	40.37	-6.67	49.47	37.34
Profitability
Gross Margin (%)	69.80	69.09	71.93	74.12	73.87
Operating Margin (%)	16.82	19.03	19.93	24.85	22.21
Pretax Margin (%)	13.32	11.18	-5.54	21.56	18.67
Net Margin (%)	10.26	13.09	-2.36	17.61	12.55
Return on Assets (%)	8.30	7.16	-1.21	10.72	7.86
Return on Equity (%)	259.27	63.31	-7.93	42.49	23.43
Return on Avg. Total Capital (%)	19.44	15.48	-2.68	19.63	13.75
Return on Avg. Invested Capital (%)	20.66	24.78	-4.16	19.94	15.23
Efficiency
Revenue/Employee	0.13	0.14	0.14	0.16	0.17
Receivables Turnover	4.90	2.39	2.29	5.88	5.77
Days of Sales Outstanding (DSO) (%)	74.51	152.98	159.14	62.06	63.22
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Days of Inventory on Hand (DIO)	0.00	0.00	0.00	0.00	0.00
Total Asset Turnover	0.81	0.55	0.51	0.61	0.63
Working Capital Turnover	0.00	0.00	0.00	0.00	0.00
Liquidity
Current Ratio	0.85	0.53	0.55	0.77	0.58
Quick Ratio	0.85	0.53	0.55	0.77	0.58
Capital Structure
Debt-to-Total Equity (%)	442.36	227.17	170.77	83.10	60.63
Debt-to-Total Capital (%)	81.56	69.44	63.07	45.38	37.74
Debt-to-Total Assets (%)	44.88	27.66	32.70	26.05	21.48
Interest Coverage	2.96	3.24	4.59	8.54	11.45

Market data

Name	Latest	Var
FTSE 100	5,338.38(c)	-1.24%
FTSE 250	10,592.94(c)	-0.77%
DOW INDUSTRIALS	12,462.02	-1.08%
HONG KONG HANG SENG INDIC	19,200.93	+0.00%
Nikkei 225	8,876.59(c)	+0.00%

Name	Latest	Var
RANDGOLD RES.	4,855.00(c)	+4.63%
ICAP	342.00(c)	+1.63%
NATIONAL GRID	675.00(c)	+1.43%
ANTOFAGASTA	1,026.00(c)	+1.38%
CENTRICA	311.90(c)	+1.10%

Name	Latest	Var
INTL. CONS. AIR GRP	143.50(c)	-6.02%
AVIVA	267.70(c)	-4.70%
GKN	184.30(c)	-4.21%
HARGREAVES LANS	480.70(c)	-4.15%
MAN GROUP	78.55(c)	-4.09%

Buys

Name	Latest	Var
AVIVA	267.70(c)	-4.70%
LAMPRELL	128.50(c)	+1.18%
RED EMPEROR RES	18.00(c)	-41.46%
LLOYDS GRP.	27.65(c)	-3.56%
RANGE RES.	7.25(c)	-16.47%

Sells

Name	Latest	Var
RED EMPEROR RES	18.00(c)	-41.46%
RANGE RES.	7.25(c)	-16.47%
BP	396.65(c)	-0.75%
AVIVA	267.70(c)	-4.70%
VODAFONE GRP.	165.90(c)	-1.19%

Selftrade is a trading name and Selftrade® a registered trademark of Talos Securities Limited, which is authorised and regulated by the Financial Services Authority (FSA Register number 208271) and is a member of the London Stock Exchange and PLUS Markets. Talos Securities Ltd is incorporated in England and Wales (Registration No. 4196325, Registered Address: Boatman's House, 2 Selsdon Way, London E14 9LA). VAT No. 629 2807 22.

Data: include Bondscape, Dow Jones, Factset, FTSE, Morningstar. Conditions may apply.

EUROMONEY INST.

PROFILE

Key People

Major Shareholders

Director Deals

Income Statements £1K

Balance Sheet £1K

Cash Flow £1K

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