CentralNic Group PLC Q1 2022 Update, Outlook & Notice of Results (1318J)
25 April 2022 - 4:01PM
UK Regulatory
TIDMCNIC
RNS Number : 1318J
CentralNic Group PLC
25 April 2022
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU ) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ( "MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
25 April 2022
CentralNic Group plc
("CentralNic" or the "Company", or the "Group")
Q1 2022 Trading Update, Outlook, Investor Presentation and
Notice of Results
Fifty-one per cent organic growth and upgraded FY22 outlook
CentralNic Group plc (AIM: CNIC), the global internet platform
company that derives recurring revenues selling online presence and
marketing services, is pleased to announce that the positive
trading momentum previously announced has continued and the
Company's organic growth has further accelerated during the first
quarter of 2022.
Trading Update
The Company expects to report revenue of c.USD 156 million and
Adjusted EBITDA(1) of c.USD 18 million for the three months ending
31 March 2022, implying year-on-year organic growth(2) for the
trailing twelve months ending 31 March 2022 of c.51%. This
outperformance has been driven largely by the growth of the Online
Marketing Segment, driven by increased demand for our privacy-safe
online customer acquisition services.
Cash increased to USD 86.9m(3) as at 31 March 2022 from USD
55.6m as at 31 December 2021, whilst Net Debt(4) decreased to c.USD
65m as at 31 March 2022 from c.USD 75m as at 31 December 2021.
Adjusted operating cash conversion continued to be in excess of
100%.
Outlook
While the Directors are cognisant of the current global
macro-economic environment, they now have confidence that the Group
will materially exceed the most recent market expectations for the
year(5) .
Ben Crawford, CEO of CentralNic, said : "CentralNic has enjoyed
a strong start to the year with year-on-year organic growth now
reaching a record 51%, gaining market share in a growing market. At
the same time, we have continued to add scale and capability
through the completion of 3 strategic acquisitions in the period,
including VGL, our largest acquisition to date, funded by an
oversubscribed equity placing and tap bond issue."
Investor Presentation
The Company will present at MelloMonday at 6.30pm tonight.
Investors can sign up at:
https://www.tickettailor.com/events/melloeventslimited/674618
Notice of Results
The Company will publish its unaudited interim report for the
three months ending 31 March 2022 on Monday, 23 May 2022.
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 centralnic@secnewgate.co.uk where further
details will be provided. There will also be an Investor Meet
Company session at 4.30pm. Investors can sign up to Investor Meet
Company for free to meet CentralNic Group Plc via:
https://investormeetcompany.com/centralnic-group-plc/register-investor
(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) Organic growth 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 530m and
c.USD 350m for the trailing twelve months ending 31 March 2022 and
31 March 2021 respectively)
(3) Includes a net influx of c.USD 16m pertaining to the VGL
acquisition (equity and bond offering of c.USD 81m less
consideration paid net of cash acquired of c.USD 65m)
(4) Includes gross cash, interest-bearing debt and prepaid
finance costs; it does not include Mark-To-Market (MTM) for the
bond hedges of c.USD 9.4m as of 31 March 2022 (c.USD 6.4m as of 31
December 2021)
(5) Analyst consensus of revenue and adjusted EBITDA for the
financial year ending 31 Dec 2022 as of Sunday, April 24 is USD
516.6m and USD 60.4m respectively
-Ends-
For further information:
CentralNic Group Plc
Ben Crawford, Chief Executive Officer
Don Baladasan, Group Managing Director
Michael Riedl, Chief Financial Officer +44 (0) 203 388 0600
Zeus (NOMAD and Joint Broker)
Nick Cowles / Jamie Peel / James Edis
(Investment Banking) +44 (0) 161 831 1512
Dominic King (Corporate Broking) +44 (0) 203 829 5000
Berenberg (Joint Broker)
Mark Whitmore / Richard Andrews / Alix
Mecklenburg-Solodkoff +44 (0) 20 3207 7800
SEC Newgate (for Media) +44 (0) 203 757 6880
Bob Huxford / Isabelle Smurfit/ Max Richardson centralnic@secnewgate.co.uk
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
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