Sunday , June 4 2023

CentralNic reports year-on-year organic revenue growth of 37%


CentralNic Group plc announced that following its significant investment programme, the Company’s organic growth has further accelerated during the fourth quarter of 2021, resulting in year-on-year organic revenue growth of 37% for the full year ended 31 December 2021.

The Company therefore expects to report revenue of around USD 410m and adjusted EBITDA of around USD 45m for the financial year ended 31 December 2021, c.5% ahead of consensus of USD 383m and USD 42.9m respectively. This represents an increase of c.70% and 47% respectively over the USD 241.2m and USD 30.6m results reported for the financial year 2020.

Cash increased to USD 55.6m from USD 28.7m as at 31 December 2020, whilst net debt decreased to USD 76m from USD 85m as at 31 December 2020, notwithstanding the deployment during the year of a total of c.USD 19m on four highly accretive acquisitions of Safebrands, Wando, a Publishing Network, and NameAction, as well as the final deferred consideration payment for Team Internet. Adjusted operating cash conversion continues to be well in excess of 100%. The Company also successfully completed a tap issue of EUR 15m (c.USD 18m) under its existing senior callable bonds in February 2021.

Ben Crawford, CEO of CentralNic, said: “CentralNic’s growth has continued its acceleration during the last quarter of the year with year-on-year organic growth now reaching a record 37%. The Company has comfortably exceeded the high end of market expectations for the year, which had already been revised upwards repeatedly over the course of the year.”

The Company will publish its unaudited preliminary report for the financial year ended 31 December 2021 on Monday, 28 February 2022. 

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