CentralNic Group plc (AIM: CNIC) announced that following its significant investment programme, the Group recorded c.USD 90 million of revenue, representing a 63% increase of reported revenue and a record organic growth of c.25%. during the three months ended 30 June 2021.
The company therefore expects to report revenue of c.USD 174 million and adjusted EBITDA of c.USD 20 million for the first half of 2021, reflecting growth across all business lines. This represents a 56% and 32% increase respectively over the USD 111.3m and USD 15.1m results for the same period last year. Cash increased to USD 39.5m from USD 28.7m as at 31 December 2020, whilst net debt decreased to USD 84m from USD 85m as at 31 December 2020, notwithstanding the deployment during the half of a total of c.USD 13 on the acquisitions of Safebrands and Wando and the final deferred consideration payment for Team Internet. Adjusted operating cash conversion was again well in excess of 100%.
The Company will publish its interim report for the six months ended 30 June 2021 on Tuesday, 31 August 2021.
Ben Crawford, CEO of CentralNic, said: “CentralNic has enjoyed a very strong second quarter across both our digital subscriptions products and our privacy enabled online marketing technologies – achieving record organic growth of 25%, following 16% organic growth for the first quarter 2021 and 9% for the full year 2020. The Company expects to deliver revenue for the year well ahead of market expectations through our significant investment in resources, restructuring and new business, resulting in profits we expect to be comfortably in line with market expectations. As our investment levels plateau, we expect future periods to benefit from increasing operational leverage.”
There will be a webinar / conference call for equity analysts at 09:30am UK on the day of results, hosted by CEO Ben Crawford and CFO Michael Riedl. Anybody wishing to register should contact Isabelle Smurfit at [email protected] where further details will be provided.