Euromoney Institutional Investor - Embedded solutions

Euromoney’s teach-in focused on Finance & Professional Services (FPS) within the newly reconfigured Data & Market Intelligence (DMI) segment. FPS represents 37% of pro forma group FY19 revenues including Asset Management; 59% without. Its attributes epitomise Euromoney’s journey to becoming a fully embedded partner to its clients, with a high proportion of recurring revenues. Uncertainty regarding the Asset Management strategic review continues to undermine the share price, with the valuation at a wide discount to peers (c 37%), which we view as unjustified on fundamentals.