Home » Market News » DirectorsTalk Highlights » CentralNic Group FY2019 performance of Team Internet
CentralNic

CentralNic Group FY2019 performance of Team Internet

CentralNic Group plc (LON:CNIC), the global internet platform that derives revenue from the subscription sales of domain names and web services, has today announced an update on the FY2019 performance of its latest acquisition, Team Internet AG, Germany.

As reported by Matomy Media Group Ltd. (“Matomy Media”) as part of their audited annual report for FY2019, during the period from 1 January 2019 through 24 December 2019, the date of the sale of Team Internet to CentralNic, Team Internet has recorded revenue of USD 74.0m and adjusted EBITDA of USD 12.3m. This compares to USD 66.7m and USD 10.6m respectively reported for the trailing 12 months to 30 June 2019 at the occasion of the announcement of the acquisition of 15 November 2019.

CentralNic acquired Team Internet for a total consideration of USD 48m cash, equivalent to 3.9 times Team Internet’s EBITDA for the period 1 January 2019 to 24 December 2019. The acquisition is earnings enhancing and expected to be significantly accretive in the financial year ending 31 December 2020, before any synergies.

Ben Crawford, CEO of CentralNic, said: “These figures, which were recently released into the public domain by Matomy Media as part of their audited FY2019 results, are testament to the successful turnaround of the Team Internet business in H2 2019.”

ANNOUNCEMENT OF TRADING UPDATE

CentralNic will release an unaudited trading update for Q1 2020 in the week commencing 27 April 2020, alongside its audited annual report for financial year 2020. The Directors expect current trading to be in line with market expectations.

Receive our exclusive interviews – Enter your email to stay up to date.

Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.