GlobalData Launch of new £5m Share Buyback Programme

研报英文原文证据摘录

GlobalData Launch of new £5m Share Buyback Programme

C A Z E N O V E Europe Equity Research

23 June 2026

GlobalData Neutral

DATA.L, DATA LN

Launch of new £5m Share Buyback Programme Price (22 Jun 26):81p

Price Target (Dec-27):135p

Our Take: GlobalData has announced the launch of a new £5m share buyback European Internet & Media

ACprogramme (commencing today, June 23rd), which follows the completion of the Lara Simpson

£10m share buyback programme launched at the end of March 2026. As we have (44-20) 7134-3637

argued (here), the company remains well placed to return capital through buybacks lara.simpson@jpmorgan.com

while continuing to fund targeted acquisitions (JPMe FY26 net debt of £71m, or J.P. Morgan Securities plc

0.6x leverage), although the magnitude of today’s return may disappoint (£5m Marcus Diebel

announced, c.LSD% earnings accretion), with our SBB scenario suggesting upside (44-20) 7742-4447

marcus.diebel@jpmorgan.com

to an incremental £50m cash return this year, raising the likelihood of an ongoing J.P. Morgan Securities plc

bolt-on strategy in Healthcare for the remainder of this year. We recently initiated

Daniel Kerven

coverage at Neutral (here), taking a more balanced view on risk/reward post the the (44-20) 7134-3057

recent share price run and are more tempered in our view of the conversion and daniel.kerven@jpmorgan.com

cadence of earnings delivery (-2% to consensus on FY26E adj. EBITDA). J.P. Morgan Securities plc

Thyagarajan J

• Launch of new £5m Share Buyback Programme. GlobalData has (91-22) 6157-5005

announced a new share buyback programme of up to a maximum consideration thyagarajan.j@jpmchase.com

of £5m, the purpose of which is to return surplus capital to shareholders and J.P. Morgan India Private Limited

reduce the company's share capital.