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Overview

Arena Events Group plc (LON:ARE) is an AIM listed provider of temporary physical structures, seating, ice rinks, furniture and interiors. The Group has operations across Europe, the US, the Middle East and Asia, and current clients include Wimbledon Tennis, The Open, PGA European Tour, Ryder Cup and IMG.

ARE services major outdoor sporting and leisure events, providing a managed solution from concept and design through to the construction and integration of the final structure and interior. Contracts range in size and complexity from a simple equipment rental for a local outdoor event, to an integrated solution of multiple structures and interiors for a major international sporting event.

Arena listed on AIM in July 2017 raising £59.3m and raised a further £20m in August 2018. Since listing ARE has made 7 acquisitions (as of Oct 2018). ARE has a progressive dividend policy, paying a total of 1.35p for the year end 31 December 2017, but announcing an increased interim dividend of 0.5p per share for the six months to 30 June 2018.

www.arenagroup.com

Directors

  • Ken Hanna (Chairman): Chairman of Aggreko since 2012. Also currently Chair of Inchcape Plc.
  • Greg Lawless (CEO): Formerly Director of Davy Corporate Finance & Senior Exec at Allegro Ltd. Acquired Arena Structures & Seating in 2007 & CEO since 2011.
  • Piers Wilson (FD): Joined Arena as FD in 2012. Previously with Cable & Wireless and qualified as an accountant with Arthur Anderson.
  • Ian Metcalf (NED): Chairman of Commonwealth Games England, member of the RFU Council. Previously Partner of international law firm Wragge & co.

 

P&L2018
GBP £~M
2017
GBP £~M
Turnover135108
Adjusted EBITDA12.110
Profit/ (Loss after Tax)(2)(3.3)
Total Dividend Per Share1.5p1.4p
Balance Sheet2018
GBP £~M
2017
GBP £~M
Cash & cash equivalents7.54.3
Total Borrowings(26.7)(15.2)
Net Assets7253.8

Peer Group

  • Manchester United Plc (NYSE: MANU): Football Club
  • International Speedway (NASDAQ: ISCA): Ownership of Nascar & Indycar race tracks

Major Shareholders

Directors

  • Greg Lawless –  4.43%%
  • Piers Wilson – 0.15%
  • Ken Hanna – 0.11%
  • Ian Metcalfe – 0.07%

Other

  • Miton Asset Management  – 11.52%
  • Benbridge – 7.18%
  • Livingbridge UK Micro Cap Fund – 6.34%
  • Hargreave Hale & Co – 5.9%
  • Ennismore European Smaller Co’s – 4.07%

Macro Indicators

Market Growth Predictions (Source: Arena Events Group plc)

USA:

  • 2.4% annual growth predicted 2015- 2020
  • c.9,645 companies in the US market
  • Arena is 3rd largest in the market

UK:

  • c.6,000 companies in the UK market
  • Arena is no.1 in the market

Media Coverage

Shares Magazine (December 2018): “Fast Growing Small Caps for 2019”
“Small cap Arena Events (ARE:AIM) provides equipment to run major sports events and shows. It joined the stock market in July 2017 with the intention of buying rivals to expand its skillset and geographical coverage. This strategy is now in play with various deals done in the US, Hong Kong and Dubai.”

Investor’s Chronicle (September 2018)
“…Wimbledon-based Arena Events (ARE:72p), a specialist provider of temporary physical structures, marquees, grandstands and ice rinks to major sporting, outdoor and leisure events, is delivering on the organic and bolt-on acquisition strategy”

Shares Magazine (February 2018)
“Arena has the hallmarks of a great small cap investment”

Broker Coverage

Cenkos (Sep 2018)
“…The Company has successfully delivered on, and won new contracts while making six acquisitions since the beginning of the year…”

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