CentralNic H1 2022 results

CentralNic Group announced that the positive trading momentum previously announced has continued and the Company’s organic growth has further accelerated during the second quarter of 2022.

Highlights

• H1 2022 reported revenue of USD 335m, up 92% from USD 174.7m
• H1 2022 Adjusted EBITDA of USD 38m, up 85% from USD 20.5m
• Organic revenue growth up to 62%
• 30 June 2022 gross cash of $94m, up 68% from USD $56m as at 31 December 2021
• 30 June 2022 net debt down to $65m, down 20% from USD $81m as at 31 December 2021
• Inclusion in AIM 100 and AIM UK 50

Trading Update

The Company expects to report revenue of c.USD 335 million and Adjusted EBITDA¹ of c.USD 38 million for the six months ending 30 June 2022, up by 92% and 85% respectively. Year-on-year pro forma organic growth² for the trailing twelve months ending 30 June 2022 is c.62%. This outperformance has largely resulted from the growth of our Online Marketing Segment, driven by increased demand for our privacy-safe online customer acquisition services.

The Company maintained a strong balance sheet during the period, with gross cash increasing by 68% to USD 94m³ as at 30 June 2022 from USD 56m as at 31 December 2021, whilst Net Debt⁴ decreased by 20% to c.USD 65m as at 30 June 2022 from c.USD 81m as at 31 December 2021. Adjusted operating cash conversion continued to be in excess of 100%. 

Ben Crawford, CEO of CentralNic, said: “CentralNic has enjoyed a strong first half of the year with year-on-year organic growth now reaching a record 62%, a further improvement over the 53% reported for the twelve-month period ending 31 March 2022. CentralNic continues to deliver sustainable growth thanks to our privacy safe solutions and the enormous scale of the market opportunities we are addressing.”