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Live Company Group Plc: THE INVESTMENT CASE

Live Company sets furious pace as it builds Lego events business

From an almost standing start in 2016, the group is scheduled to run Bricklive banded shows at 60 venues this year
Lego
INVESTMENT OVERVIEW: LVCG The Big Picture
A Bricklive event

Lego events promoter Live Company Group Plc (LON:LVCG) is moving at a ferocious pace.

From an almost standing start in 2016, the group is scheduled to run Bricklive banded shows at 60 venues this year in the UK, Europe, Japan, South Korea and Brazil.

WATCH: Live Company Group to launch BRICKLIVE Christmas show in Monaco

Bricklive branded centres have also opened in Korea, China and Guam, while there are Bricklive Kids cafes now in operation in Korea and China.

Another new initiative, Bricklive Touring meanwhile has just signed an agreement to stage Animal Paradise Lego shows in South Korea and Macau, with options over Japan, Taiwan and Hong Kong.

Animal Paradise is a themed show supporting endangered species and includes full-size models of an African elephant and a Mako shark.

As the roster of events illustrates, Asia is becoming an important part of Live Company’s business, but the US too is being looked at now as a potential growth opportunity and David Ciclitira says a global brand is the aim.

“Wherever you are there’s a Bricklive show,” he told Proactive.

Lots of activity

With all this activity, getting a handle on the numbers is not easy.

Last results were published in June for the 2017 financial year and showed revenues of £1.92mln and an operating loss of £391,000, but the company is much changed since then.

Ciclitira said: “The reality is those accounts are not really related to this particular company as we are now … they relate to the acquisition they don’t relate to the business we’re in now”.

The Touring shows for example represent a “significant increase on what the Bricklive brand has been to date.”

Japan alone might add “significant additional licence fees” of around US$500,000 annually, he estimates.

“The business is going to be profitable this year … we are investing in our sets, growth and the brand which is where the ultimate value of the company is going to come”.

Cliclitira said even he was a little surprised at what it had achieved so quickly.

It’s down to the kids visiting the shows, he said, and "a product they want to be involved with".

Shares in Live Company have risen to 53p from 30p at the end of 2017.

At that price, the company is valued at £28.5mln.

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