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olivLaw · European equity research

ME Group International plc MEGP.L

United Kingdom · London Stock Exchange · ISIN GB0008481250 · Vertical: Listed companies from United Kingdom

1.14GBP−3.22% · 1 dayClose 05 Nov 2026

ME Group International plc runs a global fleet of automated instant-service machines, mainly photobooths and self-service laundries, across 16 countries. With total revenue growing only modestly and a strong push to expand laundry operations, the group is a useful case study of an asset-based model with long-lived equipment. Reported revenue was £315.4m.

At the close of 05 Nov 2026, ME Group International plc (MEGP.L) stock was 1.14 GBP (−3.22% on the day), with market capitalisation 430.7 m GBP, P/E 7.7 on diluted EPS of 0.15 GBP over the last 12 months, beta 7.36, 52-week range 0.01–1.90 GBP.

Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.

Market cap
430.7 m GBP
shares as of 31 Oct 2025
P/E (TTM)
7.7
Diluted EPS TTM 0.15 · TTM to 31 Oct 2025
E/P (TTM)
13.06%
TTM to 31 Oct 2025
Dividend yield
unavailable
Beta (2y)
7.36
Volatility (1y) 655%
52-week range
0.011.90

Price history

Loading chart…

Technical reading

RSI (14)
47.5
neutral
Bollinger (20, 2)
1.09 – 1.21
in the lower half of the band · %B 0.45 · band width 10.5%
SMA 50 / 200
1.18 / 1.25
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.01 / -0.01
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyEURO STOXX 50vs EURO STOXX 50Vertical median
1 month−1.2%−0.6%−0.6 pp—
3 months−5.0%−4.2%−0.8 pp—
6 months−17.1%+4.3%−21.5 pp—
Year to date−24.4%+7.5%−31.9 pp—
1 year−41.3%+9.9%−51.2 pp+5.8%
3 years−20.1%+49.8%−70.0 pp+26.3%
5 years+72.5%+42.8%+29.7 pp—
Max drawdown (1y)
−99.3%
06 Nov 2025 → 02 Mar 2026
Max drawdown (5y)
−99.4%
17 Feb 2025 → 02 Mar 2026
Compound annual growth (5y)
+11.5%
EURO STOXX 50 +7.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 0 percentile of its own 3-quarter history (min 10.5, median 12.6, max 14.9; quarters with earnings only).

Fiscal years

Fiscal year202320242025
Revenue297.7 m307.9 m315.4 m
Revenue YoYunavailable+3.4%+2.4%
Net income50.7 m54.1 m56.6 m
Net income YoYunavailable+6.8%+4.6%
Diluted EPS0.130.140.15
Diluted EPS YoYunavailable+7.1%+4.5%
net %17.0%17.6%17.9%
Free cash flow41.9 m33.8 m28.7 m

Balance sheet & financial health

Fiscal year 2025 · 31 Oct 2025

Cash
56.5 m GBP
Financial debt
unavailable GBP
Net debt
unavailable GBP
Equity
213.0 m GBP
Total assets
334.4 m GBP
Debt / equity
unavailable
Current ratio
1.54x
ROE
28.8%
ROA
17.7%
FCF margin
9.1%

Financial statements (source on every figure)

Revenue and net income (GBP)

Margins

Income statement · GBP

Revenue
2023
297.7 m
2024
307.9 m
2025
315.4 m

esef· 24 Mar 2026verified

Cost of revenue
2023
194.4 m
2024
198.4 m
2025
202.4 m

esef· 24 Mar 2026verified

Gross profit
2023
103.2 m
2024
109.5 m
2025
113.0 m

esef· 24 Mar 2026verified

Operating income
2023
67.5 m
2024
74.4 m
2025
78.1 m

esef· 24 Mar 2026verified

Interest expense
2023
2.5 m
2024
2.6 m
2025
2.3 m

esef· 24 Mar 2026verified

Pre-tax income
2023
67.1 m
2024
73.4 m
2025
78.2 m

esef· 24 Mar 2026verified

Income tax
2023
16.4 m
2024
19.3 m
2025
21.6 m

esef· 24 Mar 2026verified

Net income
2023
50.7 m
2024
54.1 m
2025
56.6 m

esef· 24 Mar 2026verified

Diluted EPS
2023
0.13
2024
0.14
2025
0.15

esef· 24 Mar 2026verified

Balance sheet · GBP

Cash
2023
103.7 m
2024
77.5 m
2025
56.5 m

esef· 24 Mar 2026verified

Receivables
2023
12.3 m
2024
19.3 m
2025
19.2 m

esef· 24 Mar 2026verified

Inventories
2023
32.5 m
2024
38.1 m
2025
47.7 m

esef· 24 Mar 2026verified

Current assets
2023
156.4 m
2024
134.9 m
2025
133.5 m

esef· 24 Mar 2026verified

Property, plant & equipment, net
2023
118.1 m
2024
136.3 m
2025
—

esef· 04 Mar 2025verified

Goodwill
2023
15.9 m
2024
11.0 m
2025
11.2 m

esef· 24 Mar 2026verified

Intangibles (excl. goodwill)
2023
22.0 m
2024
14.4 m
2025
16.2 m

esef· 24 Mar 2026verified

Total assets
2023
326.3 m
2024
304.0 m
2025
334.4 m

esef· 24 Mar 2026verified

Accounts payable
2023
50.5 m
2024
48.2 m
2025
52.2 m

esef· 24 Mar 2026verified

Current liabilities
2023
95.1 m
2024
76.5 m
2025
86.6 m

esef· 24 Mar 2026verified

Equity
2023
160.1 m
2024
179.9 m
2025
213.0 m

esef· 24 Mar 2026verified

Shares outstanding at year end
2023
377.8 m
2024
376.7 m
2025
377.1 m

esef· 24 Mar 2026derived

Cash flow · GBP

Operating cash flow
2023
87.7 m
2024
85.9 m
2025
90.8 m

esef· 24 Mar 2026verified

Capex
2023
45.8 m
2024
52.1 m
2025
62.1 m

esef· 24 Mar 2026verified

Free cash flow
2023
41.9 m ≈
2024
33.8 m ≈
2025
28.7 m ≈

esef· 24 Mar 2026derived

Investing cash flow
2023
-57.0 m
2024
-47.6 m
2025
-60.5 m

esef· 24 Mar 2026verified

Financing cash flow
2023
-57.0 m
2024
-60.7 m
2025
-54.5 m

esef· 24 Mar 2026verified

Computed indicators

Growth

Revenue growth (YoY)
2.4%
computed by olivLawFY 2025
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
5.0%
computed by olivLawFY 2025
Net income growth (YoY)
4.6%
computed by olivLawFY 2025
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
4.5%
computed by olivLawFY 2025
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
-15.1%
computed by olivLawFY 2025

Profitability

Gross margin
35.8%
computed by olivLawFY 2025
EBITDA margin
unavailable
input data missing
EBIT margin
24.8%
computed by olivLawFY 2025
Net margin
17.9%
computed by olivLawFY 2025
FCF margin
9.1%
computed by olivLawFY 2025

Returns

ROE
28.8%
computed by olivLawFY 2025 · balance sheet at 31 Oct 2025
ROA
17.7%
computed by olivLawFY 2025 · balance sheet at 31 Oct 2025
ROIC
unavailable
input data missing
ROCE
31.5%
computed by olivLawFY 2025 · balance sheet at 31 Oct 2025
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
34.6x
computed by olivLawFY 2025

Liquidity

Current ratio
1.5x
computed by olivLawbalance sheet at 31 Oct 2025
Quick ratio
1.0x
computed by olivLawbalance sheet at 31 Oct 2025
Cash ratio
0.7x
computed by olivLawbalance sheet at 31 Oct 2025

Cash

Operating cash flow
90.8 m GBP
computed by olivLawFY 2025
Capital expenditure
62.1 m GBP
computed by olivLawFY 2025
Free cash flow
28.7 m GBP
computed by olivLawFY 2025
FCF conversion
50.7%
computed by olivLawFY 2025
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
22 days
computed by olivLawFY 2025 · balance sheet at 31 Oct 2025
Days inventory outstanding
77 days
computed by olivLawFY 2025 · balance sheet at 31 Oct 2025
Days payables outstanding
90 days
computed by olivLawFY 2025 · balance sheet at 31 Oct 2025
Cash conversion cycle
9 days
computed by olivLawFY 2025 · balance sheet at 31 Oct 2025

Market and valuation

Market capitalisation
430.7 m GBP
computed by olivLawbalance sheet at 31 Oct 2025
Enterprise value
unavailable
input data missing
Market cap / net income TTM
7.6x
computed by olivLawFY 2025
P/E (TTM)
7.7x
computed by olivLawFY 2025
Earnings yield
13.1%
computed by olivLawFY 2025
P/B
2.0x
computed by olivLawbalance sheet at 31 Oct 2025
P/S
1.4x
computed by olivLawFY 2025 · balance sheet at 31 Oct 2025
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
15.0x
computed by olivLawFY 2025 · balance sheet at 31 Oct 2025
FCF yield
6.7%
computed by olivLawFY 2025 · balance sheet at 31 Oct 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • score weight coverage: 41.7% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

1.14 GBP

05 Nov 2026Source: olivLaw, closing series

Market cap: 430.7 m GBP

Key indicators

Market capitalisation
430.7 m GBP
computed by olivLawbalance sheet at 31 Oct 2025
P/E (TTM)
7.7x
computed by olivLawFY 2025
P/B
2.0x
computed by olivLawbalance sheet at 31 Oct 2025
EV/EBITDA
unavailable
input data missing
ROE
28.8%
computed by olivLawFY 2025 · balance sheet at 31 Oct 2025
Net margin
17.9%
computed by olivLawFY 2025
Revenue growth (YoY)
2.4%
computed by olivLawFY 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

26/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 31 Oct 2025
Latest balance sheet date: 31 Oct 2025
Share count (cover of the latest filing), as of: 31 Oct 2025
Source: esefpublished 24 Mar 2026
verified 79derived 3

Score by group

42% · Insufficient data

Estimated value range

unavailable — no valuation assumptions for the reporting currency

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

    Assumptions (illustrative, editorial)

    Risk-free rate
    6.5%
    Equity risk premium
    6.0%
    Beta (default)
    1.00
    Cost of equity
    12.5%
    Terminal growth
    3.0%

    Factor scorecard

    Insufficient data

    Minimum-evidence gate: score weight coverage: 41.7% of at least 60%

    FactorValueScoreWeight used
    ROIC · Qualityunavailableunavailable—
    Net margin · Quality17.9%69 (vs peers)15%
    FCF conversion · Quality50.7%30 (on a fixed band)15%
    Revenue CAGR 3Y · Growthunavailableunavailable—
    EPS CAGR 3Y · Growthunavailableunavailable—
    Net debt / EBITDA · Balance sheetunavailableunavailable—
    Interest coverage · Balance sheet34.6x100 (on a fixed band)15%
    Current ratio · Balance sheet1.5x62 (on a fixed band)10%
    P/E (TTM) · Valuation7.7x89 (vs peers)25%
    EV/EBITDA · Valuationunavailableunavailable—
    FCF yield · Valuation6.7%83 (on a fixed band)20%
    Shareholder yield (distributions) · Returnsunavailableunavailable—
    Payout ratio (FCF) · Returnsunavailableunavailable—

    Factors without a value were dropped; the remaining weights were renormalised.

    Score groups

    • Balance sheet85/100 · 2/3 factors with a value
    • Growth· partialunavailable · 0/2 factors with a value
    • Quality49/100 · 2/3 factors with a value
    • Returns· partialunavailable · 0/2 factors with a value
    • Valuation86/100 · 2/3 factors with a value

    A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

    Memo

    ME GROUP INTERNATIONAL PLC (MEGP.L). Latest full fiscal year: 2025; data up to 2025-10-31.

    Figures computed from the financial statements: revenue 315.4 m GBP in 2025; YoY growth 2.4%; net margin 17.9%; ROE 28.8%.

    The estimated value range is 1.68–2.60 GBP per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 2.15 GBP, the price of 1.14 GBP leaves a potential of 88.3% (value / price − 1) and a margin of safety of 46.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

    Insufficient data for a verdict (score weight coverage: 41.7% of at least 60%).

    Text generated deterministically from the figures shown; no language model. Not investment advice.

    What supports the thesis

    • Interest coverage: 34.6x
    • P/E (TTM): 7.7x
    • FCF yield: 6.7%
    • The price is below the estimated value range

    What contradicts it

    • FCF conversion: 50.7%

    Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).

    Versus the vertical median

    Listed companies from United Kingdom · same country · compared with 39 companies

    Multiples and returns vs the median

    P/E
    7.7x
    vertical median 15.3x
    below median (−50.1%)
    EV/EBITDA
    —
    vertical median —
    P/S
    1.4x
    vertical median 1.5x
    below median (−11.1%)
    P/B
    2.0x
    vertical median 2.2x
    below median (−6.4%)
    ROE
    28.8%
    vertical median 14.4%
    above median (+100.4%)
    Net margin
    17.9%
    vertical median 10.8%
    above median (+66.5%)
    EBIT margin
    24.8%
    vertical median 22.9%
    above median (+8.0%)
    Revenue YoY
    2.4%
    vertical median 7.9%
    below median (−69.1%)
    Net debt/EBITDA
    —
    vertical median —
    Dividend yield
    —
    vertical median 2.9%

    Price rebased to 100 (monthly, 5 years)

    Companies in the vertical

    Market capP/EROENet marginRevenue YoY1A / 3A
    BATS.LBritish American Tobacco P.L.C.104.3 bn13.516.5%30.3%−1.0%+7% / +88%
    ABF.LAssociated British Foods PLC14.7 bn14.39.2%5.3%−3.1%−5% / −15%
    0EV1.LCarnival PLC5.5 bn4.146.7%13.4%+6.4%unavailable / unavailable
    BAB.LBabcock International Group PLC5.1 bn24.734.7%4.1%+7.2%−10% / +158%
    AUTO.LAutotrader Group PLC4.8 bn16.460.2%47.1%+3.9%−13% / −23%
    BBY.LBalfour Beatty PLC4.2 bn16.323.2%2.8%+15.2%+20% / +160%
    ABDN.LAberdeen Group PLC4.1 bn10.88.0%28.9%−2.1%+11% / +41%
    BKG.LThe Berkeley Group Holdings PLC3.6 bn11.38.8%13.4%−4.2%−0% / −22%
    BME.LB&M European Value Retail PLC2.9 bn17.421.2%2.8%+3.7%+68% / −51%
    AJB.LAj Bell PLC2.4 bn22.849.9%33.1%+18.0%+8% / +128%
    ASHM.LAshmore Group PLC1.4 bn13.913.1%71.6%−0.1%+28% / +18%
    BCG.LBaltic Classifieds Group PLC1.2 bn23.215.8%57.6%+6.9%−99% / −99%
    APN.LApplied Nutrition PLC763.6 m36.241.2%19.7%+24.2%+71% / unavailable
    BAG.LA.G. Barr P.L.C.671.9 m14.414.4%10.8%+4.0%−7% / +26%
    ASC.LAsos PLC494.5 m—-81.3%-12.0%−14.7%+71% / +8%
    ALFA.LAlfa Financial Software Holdings PLC486.8 m16.361.5%23.8%+15.3%−28% / +10%
    MEGP.LMe Group International PLC430.7 m7.728.8%17.9%+2.4%−30% / −11%
    AML.LAston Martin Lagonda Global Holdings PLC344.3 m—-93.4%-39.2%−20.6%−45% / −85%
    APTD.LAptitude Software Group PLC111.3 m28.57.2%6.2%−7.3%−30% / −23%
    AMGO.LAmigo Holdings PLC9.9 m———−81.9%+325% / +844%
    ASBE.LAssociated British Engineering PLC605.3 k—-19.1%—unavailableunavailable / unavailable
    AMIF.LAmicorp Fs (uk) PLC221.6 k0.127.5%9.1%+8.1%unavailable / unavailable
    AAF.LAirtel Africa PLC——24.1%10.6%+29.5%−7% / +164%
    AAL.LAnglo American PLC——-19.3%-20.2%+4.5%+30% / +76%
    ACG.LAcg Metals Limited——-80.3%-32.0%+134.8%+60% / +63%

    1- and 3-year price returns: for MEGP.L from daily closes (the same as the performance table), for the other companies from month-end closes.

    olivLaw engine forecast

    The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

    The engine has no published run for this company yet.

    Valuation scenarios (editable assumptions)

    Illustrative scenarios

    Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

    Bear
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Base
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Bull
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Nothing is saved.

    Estimated price (GBP)

    Estimated priceBearBaseBull
    1 years
    0.67
    Total return -42% · Per year -42%
    1.18
    Total return 3% · Per year 3%
    1.77
    Total return 55% · Per year 55%
    3 years
    0.62
    Total return -46% · Per year -18%
    1.23
    Total return 8% · Per year 3%
    2.05
    Total return 79% · Per year 21%
    5 years
    0.58
    Total return -50% · Per year -13%
    1.30
    Total return 13% · Per year 3%
    2.36
    Total return 107% · Per year 16%
    What moves the 3-year price the most
    • Exit P/E± 0.31
    • Net margin± 0.22
    • Annual revenue growth± 0.18
    • Annual dilution± 0.02

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    In brief

    ME Group International plc runs a global fleet of automated instant-service machines, mainly photobooths and self-service laundries, across 16 countries. With total revenue growing only modestly and a strong push to expand laundry operations, the group is a useful case study of an asset-based model with long-lived equipment. Reported revenue was £315.4m 1.

    SWOT

    Strengths

    • Strong and predictable cash flow from long-life assets and long-term contracts with site owners.
    • Dominant position in ID photobooths and an extensive in-house field engineer network.
    • In-house research and development capability that diversifies the service offer.

    Weaknesses

    • Heavy dependence on photobooths, whose segment revenue declined in fiscal 2025.
    • Most revenue is generated outside the UK, exposing the group to exchange-rate swings.
    • Sourcing most products from outside the UK adds trade and logistics risk.

    Opportunities

    • Rapid laundry rollout into new countries and through strategic acquisitions could accelerate growth.
    • New AI features and the laundry app could strengthen customer loyalty.
    • Renewing the printing estate with more efficient Speedlab units could improve margins.

    Threats

    • Centralised image capture for official documents could reduce demand for photobooths.
    • A prolonged recession or high inflation could reduce discretionary consumer spending.
    • Cyber attacks on ID data transfers could cause disruption and data breaches.

    Risks

    • Rules on official photographshigh

      Centralisation or acceptance of user-made photographs could directly affect photobooth revenue.

    • Exchange ratesmedium

      Most revenue is generated outside the UK, and a stronger pound could reduce the reported value of results.

    • Security of identity datahigh

      The photobooth network transfers biometric data to government databases, exposing the group to cyber risk.

    • Relationships with site ownersmedium

      Deterioration of ties with key site owners could affect results, although revenue is spread across a broad customer base.

    • Environmental and compliance costslow

      Rules on waste, energy and emissions could raise costs and reduce profitability.

    Investment thesis

    What would need to be true (bull case)

    • The laundry segment is growing strongly, and as its share of revenue and EBITDA rises, the group's growth profile could become more robust.
    • Cash flow from existing assets and long-term contracts gives flexibility for investment and acquisitions.
    • Innovation in digital products and AI could open new revenue streams from the same site network.

    What would break the thesis

    • Total revenue grew only modestly and photobooths, the largest segment, declined, which could limit overall growth.
    • Regulatory changes on ID photographs could abruptly reduce demand for a central part of the business.
    • Currency exposure and cost pressures could erode margins, especially if revenue growth stays slow.

    What to watch

    • Pace of new laundry installations and progress toward the long-term target2026
    • Trend in photobooth revenue following changes to rules on official photographsnext 10-K
    • Effect of exchange rates on reported sterling revenueQ1 2027
    • Results from the laundry app launch and the Kee.ME machines2027

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    The business

    The group installs and operates automated equipment in high-footfall locations such as shopping centres, travel hubs and supermarkets, based on long-term partnerships with site owners. Its core activities are photobooths and laundries, and it pays site owners a percentage of machine turnover, a fixed fee or a combination of both 1. The company presents itself as a global leader in photobooths for instant photo ID and aims to expand its laundry network quickly.

    The model relies on long-life assets maintained by an in-house field engineer network, which keeps incremental costs low. The group generated £115.5 million of cash from operations in 2025 and ended the year with a net cash position of £26.5 million 1.

    Diversification into digital printing, other vending equipment and innovations such as the new laundry app, launched in November 2025, complements the core. The stated purpose is to provide local services that make everyday life easier 1.

    Segments

    Photobooths (Photo.ME)

    The oldest and most cash-generative segment. Vending revenue was £166.2m in fiscal 2025, down 4.0% year on year, and EBITDA was £59.3m 1. Photobooths produce ID photos for official documents and form a stable, high-margin segment.

    Printing and other equipment

    Digital printing kiosks and other equipment (food and fruit juice vending, children's rides, photocopiers) are smaller segments. Printing had vending revenue of £10.8m and other vending £10.1m 1. The company is replacing older printing machines with lower-cost Speedlab units.

    Market context

    The group operates in Europe, Asia-Pacific and other regions, and its revenue depends on discretionary consumer spending and footfall at partner sites. The ID photo market is shaped by rules on official photographs, while self-service laundry is expanding across several European countries 1.

    The macroeconomic backdrop remains uncertain, and the group is exposed to exchange-rate movements because most revenue is generated outside the UK 1.

    Trends

    • Laundry expansiontailwind

      Rapid growth in self-service laundries is the main growth engine and shifts the revenue mix toward segments with higher returns on invested capital.

    • Rules on ID photographsheadwind

      If governments centralise biometric image capture or accept self-made photographs for official documents, photobooth revenue could be affected.

    • Digitalisation and AItailwind

      Demand for digital services and interactive photo products, including AI-generated photos, opens new sales and loyalty opportunities.

    • Environmental and energy costsmixed

      Rising costs linked to environmental rules, waste disposal and energy could weigh on profitability, while energy-efficiency measures may offset some pressure.

    Competitive position

    The company says it holds a dominant market position and high barriers to entry in its key markets, based on site-owner partnerships and its field engineer network 1. Direct competition comes from local laundry and photobooth operators, as well as from centralised ID-photo solutions promoted by governments.

    Its strengths include a large site network and an innovation track record, but the laundry and photo markets are fragmented and competitive pressure could grow as the segments become more attractive 1.

    • Local self-service laundry operators

      Regional competitors running laundries in commercial locations; the sources do not identify listed companies.

    • Instant ID photobooth operators

      Local or regional firms offering ID photos; the group has acquired one such competitor in Belgium.

    • Print kiosk providers

      Operators competing for the same high-footfall sites, particularly in Europe.

    • Public document-issuing authorities

      Not classic competitors, but centralised image capture could directly reduce demand for photobooths.

    News & filings

    In the press

    No news in our archive over the last 180 days.

    Annual reports (ESEF)

    Sources

    1. [1] Annual report, fiscal year ended 2025-10-31 (ESEF) · SEC / ME Group International plc · 31 Oct 2025

    Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.

    ME Group International plc (MEGP.L): stock, results, valuation and forecast · olivLaw