Business
Audited Annual Report 2023,Notice of Results & AGM
Audited Annual Report 2023,Notice of Results & AGM.
About this update from Team Internet Group Plc
[{"type":"text","content":"\n\n18 March 2024\n \nTEAM INTERNET GROUP PLC\n(\"Team Internet\" or \"the Company\" or \"the Group\")\n \nAudited Annual Report 2023\nNotice of Q1 2024 Results\nNotice of Annual General Meeting\nand\nDividend Timetable\n \nA record year for revenue, adjusted EBITDA and profit after tax\n\nTeam Internet Group Plc (AIM: TIG), the global internet company that generates recurring revenue from creating meaningful and successful connections: business to domains, brands to consumers, publishers to advertisers, is pleased to announce its audited annual report for the financial year 2023 is now available on the Group's website at the following link: https://teaminternet.com/annual-interim-reports/. The annual report will shortly be posted to those shareholders who have opted to receive a hard copy. \nFinancial summary:\n· Revenue increased by 15% to USD 836.9m (FY2022: USD 728.2m)\n· Organic revenue growth of 13%\n· Net revenue (gross profit) increased by 8% to USD 191.1m (FY2022: USD 177.7m)\n· Adjusted EBITDA increased by 12% to USD 96.4m (FY2022: USD 86.0m)\n· Operating profit increased by 26% to USD 42.3m (FY2022: USD 33.6m)\n· Profit before tax increased by 98% to USD 29.3m (FY2022: USD 14.8m)\n· Profit after tax increased to USD 24.3m (FY2022: loss of USD 2.1m)\n· Net debt increased by 31% to USD 74.1m as compared to USD 56.6m at 31 December 2022, following USD 39.7m of cash share repurchases, (including Employee Benefit Trust repurchases), USD 3.6m payment of dividends and USD 21.5m settlement of deferred contingent consideration during 2023\n· Leverage increased to 0.96x adjusted EBITDA (31 December 2022: 0.84x), remaining under 1.0x\n· Adjusted operating cash conversion of 96% (FY2022: 110%)\n· Adjusted EPS for the year increased by 32% to 23.22 US cents (FY2022: 17.56 US cents)\n· Proposed final dividend of 2.0p (FY2022: 1.0p), an increase of 100% as the group continues t...