Business
Unaudited Preliminary Accounts for Full Year 2022
Unaudited Preliminary Accounts for Full Year 2022.
About this update from Team Internet Group Plc
[{"type":"text","content":"\n \n \n \n 27 February 2023\n \n \n \n \n \n \n \n \n \n CENTRALNIC GROUP PLC\n \n \n \n (\"CentralNic\" or \"the Company\" or \"the Group\")\n \n \n \n \n \n \n UNAUDITED PRELIMINARY ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022\n \n \n \n \n \n \n \n \n \n A record year for revenue and Adjusted EBITDA; with a confident outlook for 2023\n \n \n \n \n \nCentralNic Group Plc (AIM: CNIC),\n the global internet company that derives\n recurring revenue from privacy-safe, AI based customer journeys that help online consumers make informed choices as well as from the distribution of domain names\n , is pleased to\n announce its unaudited preliminary accounts for the financial year ended 31 December 2022. The audited annual report and accounts for 2022 is expected to be published on 27 March 2023.\n \n \n Both revenue and profitability have increased significantly year-on-year, driven by a combination of strong organic growth and accretive acquisitions\n .\n \n \n \n Financial summary:\n \n \n \n ·\n Revenue increased by 77% to USD 728.2m (FY2021: USD 410.5m)\n \n \n ·\n Organic revenue growth* of 60% (FY2021: 39%)\n \n \n ·\n Net revenue (gross profit) increased by 50% to USD 177.7m (FY2021: USD 118.5m)\n \n \n ·\n Adjusted EBITDA** increased by 86% to USD 86.0m (FY2021: USD 46.3m)\n \n \n ·\n Operating profit increased by 172% to USD 33.6m (FY2021: USD 12.4m)\n \n \n ·\n Profit before tax increased dramatically to USD 14.8m (FY2021: USD 1.6m)\n \n \n ·\n Net debt*** reduced by 30% to USD 56.6m as compared to USD 81.4m at 31 December 2021 notwithstanding c. USD 41m M&A net of related equity raises\n \n \n ·\n Leverage**** reduced to 0.9x from 2.2x pro forma EBITDA as of 31 December 2021 due to improved profitability and cash generation\n \n \n ·\n Adjusted operating cash conversion of 110% (FY2021: 122%)\n \n \n ·\n Adjusted EPS for the year increased by 70% to 20.01 US cents (FY2021: 11.80 US cents)\n \n \n ·\n Proposed final dividend of 1.0p. This reflects a greater emphasis on returns to shareholders in future\n \n \n \n \n \n \n Operational highlights:\n \n \n \n ·\n The Group's organic growth further accelerated during the period, driven by ongoing market share gains of its proprietary\n privacy-safe, AI based customer journeys\n which address a multi-billion-dollar opportunity\n \n \n ·\n The number o...