Edison Initiates Coverage on G3 Group

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Jun 19, 2015, 04:25 ET

LONDON, June 19, 2015 /PRNewswire/ --

Edison Investment Research, a leading international investment research firm, announces the initiation of full coverage of G3 Group

Highlights of the analysis on G3 Group by Edison's industrials analysts Moira Daw and Finola Burke are as follows:

G3 Group is an amalgamation of several businesses that were previously owned and operated by the three major shareholders. The terms of this transaction have not been disclosed. These amalgamated businesses have achieved consistent year-on-year revenue growth for 11 years and since 2010 have shown steady growth in EBITDA. The amount of growth attributable to acquisitions, which include four between 2012 and 2014, has not been disclosed. G3 plans to build on its expertise in physical mail and workflow to expand into the digital world of data creation, management, distribution and storage through making acquisitions.

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The last share price used for an acquisition and for the issue of shares to the independent directors and certain key employees was NZ$0.75. This implies a market capitalisation of NZ$40.4m, a FY15 EBITDA multiple of 11.3x and a FY15 P/E of 15.0x compared with a peer group FY15 P/E of 22.2x and the NZ All Index FY15 P/E of 19.4x.

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About Edison: Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support their capital markets activities. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority (http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584).

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact:

Moira Daw Edison Investment Research +61(0)2-9280-1161
Finola Burke Edison Investment Research +61(0)2-9280-1161

[email protected]

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SOURCE Edison Investment Research