Photo-Me International Plc £PHTM - A Valuation on 16th July 2021

Photo-Me is a big player in the small and shrinking photo booth market but a minor player in the large and growing laundromat market. They've recognised this and are pivoting.

Photo-Me operates, sells, and services a range of instant-service equipment in the United Kingdom, Continental Europe, Ireland, and Asia. The company operates coin-operated automatic photo booths for identification and fun and vending equipment, including digital photo kiosks, amusement machines, business service equipment, laundry machines, and children’s rides.

The company has five main business lines:

1. Identification — Photobooths and integrated biometric identification solutions — 28,095 booths and 55.5% of revenue.

2. Laundry — Unattended Revolution laundry services, launderettes, business-to-business laundry services — 5,298 booths and 25.3% of revenue.

3. Printing Kiosks — High-quality digital printing services — 5.211 booths and 6.3% of revenue.

4. Other Vending — Includes children’s rides, photocopiers and other miscellaneous machines — 7,509 booths and 9.5% of revenue.

5. KIS Food — Fresh juice machines — 2,700 booths and 3.4% of revenue.

Photo-Me is primarily a photo booth and convenience lau…