TIDMCNIC
RNS Number : 7769S
CentralNic Group PLC
18 July 2022
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU ) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ( "MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
18 July 2022
CentralNic Group plc
("CentralNic" or the "Company", or the "Group")
H1 2022 Trading Update and Notice of Results
Sixty-two per cent organic growth and upgraded FY22 outlook
CentralNic Group plc (AIM: CNIC), the global internet platform
company that derives recurring revenues selling online presence and
marketing services, is pleased to announce that the positive
trading momentum previously announced has continued and the
Company's organic growth has further accelerated during the second
quarter of 2022.
Highlights
-- H1 2022 reported revenue of USD 335m, up 92% from USD 174.7m
-- H1 2022 Adjusted EBITDA of USD 38m, up 85% from USD 20.5m
-- Organic revenue growth up to 62%
-- 30 June 2022 gross cash of $94m, up 68% from USD $56m as at 31 December 2021
-- 30 June 2022 net debt down to $65m, down 20% from USD $81m as at 31 December 2021
-- Inclusion in AIM 100 and AIM UK 50
Trading Update
The Company expects to report revenue of c.USD 335 million and
Adjusted EBITDA(1) of c.USD 38 million for the six months ending 30
June 2022, up by 92% and 85% respectively. Year-on-year pro forma
organic growth(2) for the trailing twelve months ending 30 June
2022 is c.62%. This outperformance has largely resulted from the
growth of our Online Marketing Segment, driven by increased demand
for our privacy-safe online customer acquisition services.
The Company maintained a strong balance sheet during the period,
with gross cash increasing by 68% to USD 94m(3) as at 30 June 2022
from USD 56m as at 31 December 2021, whilst Net Debt(4) decreased
by 20% to c.USD 65m as at 30 June 2022 from c.USD 81m as at 31
December 2021. Adjusted operating cash conversion continued to be
in excess of 100%.
Outlook
While the Directors remain vigilant concerning the current
global macro-economic environment, the Board has confidence that
the Group will meet at least the upper end of current market
expectations for the FY22 financial year(5) .
FTSE index inclusion
CentralNic is also pleased to announce that FTSE Russell has
recently included CentralNic Group PLC in its AIM 100 and AIM UK 50
indices for the first time. The inclusion of CentralNic within
these indices was effective from 20 June 2022.
Ben Crawford, CEO of CentralNic, said : "CentralNic has enjoyed
a strong first half of the year with year-on-year organic growth
now reaching a record 62%, a further improvement over the 53%
reported for the twelve-month period ending 31 March 2022.
CentralNic continues to deliver sustainable growth thanks to our
privacy safe solutions and the enormous scale of the market
opportunities we are addressing."
Notice of Results
The Company will publish its unaudited interim report for the
six months ending 30 June 2022 on Tuesday, 30 August 2022.
There will be a webinar / conference call for equity analysts at
9:30am BST on the day of results, hosted by CEO Ben Crawford and
CFO Michael Riedl. Anybody wishing to register should contact
Isabelle Smurfit at centralnic@secnewgate.co.uk where further
details will be provided.
Further, there will be an Investor Meet Company webinar at 1pm
BST on that date. Investors can sign up to Investor Meet Company
for free and add to meet CENTRALNIC GROUP PLC via:
https://www.investormeetcompany.com/centralnic-group-plc/register-investor
. Investors who already follow CENTRALNIC GROUP PLC on the Investor
Meet Company platform will automatically be invited.
(1) Parent, subsidiary and associate earnings before interest,
tax, depreciation, amortisation, non-cash charges and non-core
operating expenses. Non-core operating expenses include items
related primarily to acquisition, integration and other related
costs, which are not incurred as part of the underlying trading
performance of the Group, and which are therefore adjusted for, in
line with Group policy.
(2) Organic growth is calculated based on trailing twelve-month
pro-forma revenue adjusted for acquired revenue, constant currency
FX impact and non-recurring and non-cash items (c.USD 608m and
c.USD 374m for the trailing twelve months ending 30 June 2022 and
31 June 2021 respectively)
(3) Includes a net influx of c.USD 16m pertaining to the VGL
acquisition (equity and bond offering of c.USD 81m less
consideration paid net of cash acquired of c.USD 65m) whereas the
isolated net increase on Net Debt is c. USD 6m
(4) Includes gross cash, interest-bearing debt, prepaid finance
costs and Mark-To-Market (MTM) for the bond hedges of c.USD 16.6m
as of 30 June 2022 (USD 6.4m as of 31 December 2021) - MTM has
historically been reported outside of Net Debt
(5) Analyst expectations of revenue and adjusted EBITDA for the
financial year ending 31 Dec 2022 as of Sunday, 17 July 2022 range
from USD 570m to USD 603m and USD 66m to USD 70m respectively
-Ends-
For further information:
CentralNic Group Plc
Ben Crawford, Chief Executive Officer
Don Baladasan, Group Managing Director
Michael Riedl, Chief Financial Officer +44 (0) 203 388 0600
Zeus (NOMAD and Joint Broker)
Nick Cowles / Jamie Peel / James Edis
(Investment Banking) +44 (0) 161 831 1512
Dominic King (Corporate Broking) +44 (0) 203 829 5000
Berenberg (Joint Broker)
Mark Whitmore / Richard Andrews / Alix
Mecklenburg-Solodkoff +44 (0) 20 3207 7800
SEC Newgate (for Media) +44 (0) 203 757 6880
Bob Huxford / Isabelle Smurfit/ Max Richardson centralnic@secnewgate.co.uk
About CentralNic Group plc
CentralNic (AIM: CNIC) is a London-based AIM-listed company
which drives the growth of the global digital economy by developing
and managing online marketplaces allowing businesses globally to
buy subscriptions to domain names for websites and email, monetise
their websites, and acquire customers online. Its core growth
strategy is identifying and acquiring cash-generative businesses in
its industry with annuity revenue streams and exposure to growth
markets and migrating them onto the CentralNic software and
operating platforms.
For more information please visit: www.centralnicgroup.com
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