LONDON , April 25, 2022 /PRNewswire/ — 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.
Fifty-one per cent organic growth and upgraded FY22 outlook
Trading Update
The Company expects to report revenue of c.USD 156 million and Adjusted EBITDA of c.USD 18 million for the three months ending 31 March 2022, implying year-on-year organic growth 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 as at 31 March 2022 from USD 55.6m as at 31 December 2021, whilst Net Debt 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.
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 BST tonight. Investors can sign up at: https://www.tickettailor.com/events/melloeventslimited/674618
About CentralNic Group plc
CentralNic (AIM: CNIC) is a global tech company listed on the London Stock Exchange, which drives the growth of the global digital economy by providing businesses around the world with tools to build their online presence and to win customers and earn revenues online. The Company complements its organic growth with target acquisitions of 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. CentralNic operates globally with customers in almost every country in the world. It earns recurring revenues from the worldwide sales of online presence and online marketing services on a subscription or pay per use basis. For more information please visit: www.centralnicgroup.com
For further information, please contact CentralNic Group at media@centralnic.com
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SOURCE CentralNic Group
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