TIDMCNIC
RNS Number : 1784O
CentralNic Group PLC
30 January 2023
30 January 2023
CentralNic Group plc
("CentralNic" or the "Company", or the "Group")
FY 2022 Trading Update, Board Changes and Notice of Results
Continued positive trading momentum, with record revenue and
EBITDA for 2022
CentralNic Group plc (AIM: CNIC), the global internet platform
company that generates recurring revenues selling online presence
and marketing services, is pleased to announce its trading update
for the full year 2022.
Trading Update
The Company now expects to report record gross revenue of c.USD
728 million, and net revenue and Adjusted EBITDA(1) of at least USD
177 million and USD 85 million respectively for the financial year
2022. These represent increases of c.77%, c.33% and c.84%
respectively versus the prior year, ahead of the recently upgraded
market consensus(2) for 2022. Adjusted for acquisitions and FX,
year-on-year organic growth (3) for 2022 was c.60%. This
outperformance has been driven largely by the growth of the Online
Marketing segment, reflecting increased demand for our privacy-safe
online customer acquisition services, and the resulting economies
of scale and consequent operating leverage.
Cash increased to c.USD 95m as at 31 December 2022 from c.USD
56m as at 31 December 2021, whilst Net Debt(4) decreased to c.USD
57m as at 31 December 2022 from c.USD 81m as at 31 December 2021.
Adjusted operating cash conversion continued to be in excess of
100%.
CEO, Michael Riedl, stated, "CentralNic ended the year 2022 on a
high note, with record revenue and profit in a challenging economic
environment. This is a testament to the outstanding business
portfolio we have built as a team. We will continue to exhibit
discipline and efficiency as we accelerate product rollouts, launch
strategic partnerships, and enhance scalability in the year ahead.
As a result, we anticipate another year of robust growth and
shareholder returns. I look forward to updating on our continued
progress throughout 2023."
Board changes
The Company also announces today that William "Billy" Green, who
was appointed Group CFO on 12 December 2022, has been appointed to
the board of directors with immediate effect.
At the same time, Don Baladasan, Group Managing Director, steps
down from the main board. Don has played a crucial role in the
Company's transformation, leading the team and systems that has
helped position CentralNic to achieve its sustainable growth. He
will continue to serve on the supervisory boards of CentralNic's
subsidiaries Team Internet AG and VGL Publishing AG.
Michael Riedl, Chief Executive Officer, commented: "I am pleased
to welcome Billy Green to the Board and I am confident that his
financial expertise and structured approach will make him a
valuable member of the team.
I would like to thank Don for his contributions over the past
years and his dedication and enthusiasm will be greatly missed. I
and rest of the CentralNic Board express our sincere gratitude for
his service and wish him the best for the future."
Don Baladasan, Group Managing Director of CentralNic, stated: "I
am proud of the transformation CentralNic has achieved over the
last five and a half years. I am confident that the Company will
continue to flourish and thrive under Michael's leadership. I look
forward to contributing to CentralNic's continued success as a
supervisory board member of Team Internet AG and VGL Publishing AG
and being a supportive shareholder."
The following information is provided in accordance with
Schedule Two (g) of the AIM Rules for Companies
William Geoffrey Michael Green (aged 45) does not currently
hold, nor has held within the last five years, any Directorships or
Partnerships.
There is no further information to be disclosed pursuant to
Schedule Two (g) of the AIM Rules for Companies.
Notice of Results
The Company will publish its unaudited pre-close report for the
financial year ending 31 December 2022 on Monday, 27 February
2023.
On the day of results there will be a webinar / conference call
for equity analysts at 9:30am, UK time, and for private client
investment managers at 11:30am, UK time. Both events will be hosted
by CEO Michael Riedl and CFO Billy Green. To register for either
event please contact Harry Handyside at centralnic@secnewgate.co.uk
where further details will be provided.
Furthermore, the company will hold an Investor Meet Company
session at 1pm on that day. Investors can sign up to Investor Meet
Company for free to meet CentralNic Group Plc via:
https://investormeetcompany.com/centralnic-group-plc/register-investor
Investors who already follow CentralNic Group Plc on the
Investor Meet Company platform will automatically be invited.
Questions can be submitted pre-event via your Investor Meet Company
dashboard up until 9am the day before the meeting or at any time
during the live presentation.
(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) Analyst consensus of revenue and adjusted EBITDA for the
financial year ending 31 December 2022 as of 29 January 2023 and
last updated on 6 January 2023 is USD 708.5m (analyst range of USD
701m to USD 715m) and USD 82.7m (analyst range of USD 80m to USD
85.1m) respectively.
(3) 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 743m and
c.USD 465m for financial years 2022 and 2021 respectively).
(4) Includes gross cash, interest-bearing debt and prepaid
finance costs.
-Ends-
For further information:
CentralNic Group Plc
Michael Riedl, Chief Executive Officer
Willian "Billy" Green, 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 / Harry Handyside 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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END
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