CentralNic Group plc (AIM: CNIC) announced the Audited Annual Report for the financial year 2021.
All key figures have been confirmed and are without change from the announcement made on 28 February 2022, namely:
- Revenue increased by 71% to USD 410.5m (FY2020: USD 240.0m)
- Organic revenue increased by 39% (FY2020: 9%)
- Net revenue (gross profit) increased by 58% to USD 118.5m (FY2020: USD 75.1m)
- Adjusted EBITDA* increased by 57% to USD 46.3m (FY2020: USD 29.4m) resulting in a margin of 11.3% on gross revenue and 39.0% on net revenue, i.e. excluding passthrough expenses such as registry fees and revenue shares
- Operating profit of USD 12.4m (FY2020: operating loss of USD 2.1m)
- Profit before tax of USD 1.6m (FY2020: loss before tax of USD 11.8m)
- Net debt** down to USD 75.0m (gross interest-bearing debt of USD 131.1m, cash of USD 56.1m) as compared to USD 85.0m in FY2020 – despite four acquisitions for a combined USD 18.3m in the year, and the settlement of combined deferred consideration of USD 1.7m
- Adjusted EPS for the year increased by 18% to USD 11.80 cents (FY2020: USD 9.96 cents)
Minor adjustments arising from the audit process include:
- Operating Cashflow has improved from USD 40.7m to USD 43.3m
- Adjusted cash conversion ratio has improved from 116% to 122%
Ben Crawford, CEO of CentralNic, said:
“CentralNic’s results for 2021 demonstrate the potential of its strong marketplace model for Online Presence and Online Marketing services. With the completion of the acquisition of VGL in March 2022, we have recently enriched our Online Marketing marketplace with a perfectly complementary asset. Strong earnings, excellent cash conversion and a sound balance sheet will allow us to add more well curated offerings to our two marketplaces, further augmenting our strong organic growth. Whilst it remains early into the new financial year, we remain confident in our outlook for this year and beyond.”
