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Added to YB: 2022-11-11

Pitch date: 2022-11-11

RCS.MI [bullish]

RCS MediaGroup S.p.A.

+73.52%

current return

Author Info

Company Info

RCS MediaGroup S.p.A. provides multimedia publishing services in Italy and internationally. The company publishes newspapers under the Corriere della Sera, Corriere Salute, SOLFERINO, Buone Notizie, Dataroom, La Gazzetta dello Sport, El Mundo, Marca, Expansión, L’Economia, La Lettura, ViviMilano, CI-Corriere Innovazione, and Gazzetta Selection names; and magazines in the women, oggi, interior design, men and lifestyle, travel, and other areas under the MARCA MOTOR, Oggi, AMICA, 7, Abitare, Living, Style, TELVA, Io Donna, DOVE, Sportweek, Insieme, Metrópoli, ACTUALIDAD ECONÓMICA, Fuera de Serie, Italian Style, Io e il mio Bambino, SFERA editore, Oggi Cucino, Style Piccoli, Quimamme, Yo Dona, Sano & Leggero, Bimbinfiera, and Oggi Enigmistica names.

Market Cap

EUR 384.0M

Pitch Price

EUR 0.53

Price Target

N/A

Dividend

8.03%

EV/EBITDA

3.57

P/E

N/A

EV/Sales

0.65

Sector

Media

Category

turnaround

Show full summary:
RCS MEDIAGROUP INVESTMENT THESIS

RCS.MI: Leading Italian publisher diversified across media. Owns top daily papers Corriere della Serra & La Gazzetta dello Sport. Spain biz incl El Mundo #2 daily, Marca sports leader. Turnaround by CEO Cairo, debt-free, 15% FCF margin. Digital 25% of rev +19% YoY. Trades ~2x FCF w/ 9.5% div yield. Risks: macro, subs. Upside: digital growth, re-rating to past takeout bids of €416-770M vs €350M mkt cap now.

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