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 EBITDA¹ 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 consensus² for 2022. Adjusted for acquisitions and FX, year-on-year organic growth³ 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 Debt⁴ 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:  

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